Rate-sensitive stocks edge higher after the RBI keeps repo rate unchanged at 6.5%
RBI Monetary Policy 2023: Last seen, all the sectoral indices were trading in the green except Pharma. Nifty Consumer Durables was up 0.38 per cent, Nifty Bank was up 0.55 per cent, Nifty Financial Services was up 0.52 per cent and Nifty Realty was up 1.13 per cent.
RBI Monetary Policy 2023: Rate-sensitive stocks—banking, financial services, realty, auto, and other consumer durable stocks—traded in green after of the Reserve Bank of India (RBI) kept the rates unchanged at 6.5 per cent in line with analysts' expectations on Friday, December 8.
Last seen, all the sectoral indices were trading in the green except Pharma. Nifty Consumer Durables was up 0.38 per cent, Nifty Bank was up 0.55 per cent, Nifty Financial Services was up 0.52 per cent and Nifty Realty was up 1.13 per cent.
Rate-sensitive stocks are those stocks that are influenced by changes in interest rates.
In the Nifty Bank basket, nine stocks advanced and three declined. Except for AU Small Finance Bank, State Bank of India (SBI), and Bandhan Bank, all the banking names were trading higher between 0.34 per cent to 1.56 per cent. Among Nifty Financial Services stocks, 11 advanced and nine declined; in Nifty Consumer Durables, 11 stocks advanced and four declined; and in Nifty Realty, nine stocks advanced and one declined.
The RBI policy statement is the first since the release of official macroeconomic data last month that showed the country's GDP expanded a much faster-than-expected 7.6 per cent in the July–September period, aided by government spending and manufacturing, and raised hopes that Asia's third-largest economy will outperform its estimates for the financial year ending March 2024.
Also Read: RBI Monetary Policy Live Updates: Shaktikanta Das announces status quo on benchmark interest rates
Meanwhile, the latest MPC review also comes at a time when investors across the globe are hoping for an earlier-than-expected cut in benchmark interest rates as central banks have stopped tightening the supply of money after battling sky-high consumer prices for months.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
10:21 AM IST