Rate sensitive stocks slip as RBI cuts repo rate by 25 bps to 6%

STOCK MARKET - Shares of rate sensitive sectors such as financials, automobiles and real estate were trading lower after the Reserve Bank of India (RBI) cut the repo rate and reverse repo rate by 25 bps at 6% and 5.75%, respectively, at Wednesday's third Bi-monthly monetary policy, keeping in line with what analysts and experts had forecast.

At 2:55 PM; Nifty PSU Bank and Nifty Private Bank index trading lower by 0.3% each, while Nifty Auto, Nifty and Nifty Realty indices fell 0.4% each on the National Stock Exchange (NSE), as compared to 0.4% decline in the Nifty 50 index.


Only Punjab Nation Bank and Axis Bank were trading in green while IDFC Bank, IndusInd Bank, Canara Bank, HDFC Bank, Federal Bank, State Bank of India (SBI), and Bank of Baroda were quoting in red on NSE.

Tata Motors, Ashok Leyland, Mahindra & Mahindra (M&M) and Bajaj Auto from automobiles and Unitech, Oberoi Realty, Godrej Properties and Sobha from real estate were down in the range of 1% to 4%.

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