Rate sensitive stocks extend gains as RBI keeps rates unchanged; realty, banks, auto stocks edge higher

RBI Governor Shaktikanta Das said the MPC voted unanimously to keep the policy rates unchanged. The “accommodative” policy stance will continue.

April 07, 2021 / 10:15 AM IST

RBI Governor Shaktikanta Das said the MPC voted unanimously to keep the policy rates unchanged. The “accommodative” policy stance will continue.

This means the repo rate is maintained at 4 percent and the reverse repo rate at 3.35 percent.

The policy announcement comes amid elevated inflation and a surge in COVID-19 infections across the country.

Rate sensitive stocks are trading in the green and have extended the morning gains with Bank Nifty, realty and the auto index adding over a percent each.

S&P BSE Realty was up over a percent led by Indiabulls Real Estate which jumped over 3 percent followed by Sunteck Realty, Brigade Enterprises, DLF, Sobha and Godrej Properties.

Close

Among the banking names, City Union Bank gained over 3 percent followed by State Bank of India, IndusInd Bank, Federal Bank, RBL Bank, Bandhan Bank, ICICI Bank and Kotak Mahindra Bank.

The Auto index added close to a percent led by Ashok Leyland which added 2 percent followed by Escorts, Motherson Sumi Systems and Maruti Suzuki.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sandip Das
first published: Apr 7, 2021 10:06 am

stay updated

Get Daily News on your Browser
Sections