Rate-sensitive bank, financial, realty stocks gain after RBI policy

Following rally in these companies, BSE Finance index was quoting with over 2 per cent gains. From the realty pack, companies witnessed a mixed trend while the index was trading 0.79 per cent higher. However, auto index was in the red. BSE benchmark Sensex jumped over 300 points in morning trade..

Rate-sensitive bank, financial and realty stocks gained Friday after the Reserve Bank of India (RBI) left the benchmark interest rate unchanged at 4 percent but retained an accommodative stance. HDFC was the top gainer in the Sensex pack, rising over 3 percent.

Bank counters also witnessed buying with ICICI Bank, Bandhan Bank, Axis Bank, HDFC Bank, SBI, and Kotak Mahindra Bank trading up to 3.51 percent higher in the morning trade. The BSE bank index rose by over 2 percent following gains in its components. The benchmark repurchase (repo) rate has been left unchanged at 4 percent, RBI Governor Shaktikanta Das said while announcing the decisions taken by the Monetary Policy Committee (MPC).

Consequently, the reverse repo rate will also continue to earn 3.35 percent for banks for their deposits kept with RBI. Shares of LIC Housing Finance jumped nearly 10 percent and Repco Home Finance gained 7.76 percent.

Also, GIC Housing Finance, Indiabulls Housing Finance, AU Small Finance Bank, PNB Housing Finance were trading with up to 7 percent gains. Following the rally in these companies, the BSE Finance index was quoting with over 2 percent gains.

From the realty pack, companies witnessed a mixed trend while the index was trading 0.79 percent higher. Counters like Indiabulls Real Estate and DLF rose to 1.5 percent. However, the auto index was in the red.

BSE benchmark Sensex jumped over 300 points in morning trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)