Moneycontrol
Last Updated : Aug 01, 2018 02:21 PM IST | Source: Moneycontrol.com

RBI policy: Rate-sensitives trade mixed ahead of MPC meet outcome

Sectors like banking, real estate and auto, among others, will be impacted the most from the rate hike as the cost of the products will be directly influenced due to increase in interest rate.

Moneycontrol News @moneycontrolcom

Shares of rate-sensitive stocks were trading with caution ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meet outcome.

Such stocks react before and after the meeting’s outcome is known, especially on the interest rate front.

Sectors like banking, real estate and auto, among others, will be impacted the most from the rate hike as the cost of the products will be directly influenced due to increase in interest rate.

The Bank Nifty was trading lower, with stocks such as Yes Bank, Federal Bank and HDFC Bank, among others in the red. IndusInd Bank and Kotak Bank were trading in the green.

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There was some upmove visible among financial services. The likes of IIFL, Max Financial Services, Shriram Transport, Bajaj Finance, Edelweiss were all up 1-3 percent.

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Meanwhile, PSU banks are cautious ahead of the meet. The likes of Canara Bank, Bank of India and State Bank of India are in the green, but IDBI, Andhra Bank and Union Bank, among others are lower.

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Auto names were trading mixed too. Nifty Auto index was up down around half a percent. Shares of Ashok Leyland, Bharat Forge, Apollo Tyres, Amara Raja Batteries, and TVS Motor, among others are higher, while Hero Moto, Tata Motors and Maruti are in the red.

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Realty stocks, a part of the rate-sensitive pack, are mixed, with the Nifty realty index falling over half a percent. Phoenix Mills, Prestige Estates and Brigade Enterpries were up around 3 percent, while the likes of Sobha, Godrej Properties and DLF have fallen up to 2 percent.

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First Published on Aug 1, 2018 11:27 am
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