RBI monetary policy outcome: Rate-sensitive stocks end higher; auto, banks, realty extend gains
Bank along with the auto sector added a percent each while realty stocks are also trading in the green.
December 08, 2021 / 04:53 PM IST
The Indian stock market ended on a robust note for the second consecutive day on December 8. Benchmark indices ended strong after Reserve Bank of India (RBI) kept the key rates unchanged. At close, the Sensex was up 1,016.03 points or 1.76% at 58,649.68, and the Nifty was up 293.10 points or 1.71% at 17,469.80.
The announcement came in the context of fresh threats from the Omicron variant. So far, India has reported over two dozen Omicron cases. This has forced several states to impose fresh travel restrictions. There is a fear that the Omicron surge will lead to a third wave of Covid-19 in the country.
Rate-sensitive sectors, ended on a strong note with the auto index ending with over 2 percent gains while the banking and realty indices were up over a percent each.
The Nifty auto ended higher by over 2 percent led by Maruti Suzuki, Ashok Leyland, Bharat Forge, Tata Motors and TVS Motor Company among others.
The top gainers from the banking space included ICICI Bank, State Bank of India, IndusInd Bank, RBL Bank, Canara Bank and Indian Bank which were up 2-5 percent each.
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Among the realty names, the top gainers included Phoenix Mills, Godrej Properties, Prestige Estates, Sobha, DLF and Oberoi Realty among others.Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own, and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.