Sensex dives 746 pts after RBI maintains status quo; rate sensitive stocks fall
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
In December, the domestic passenger vehicle sales crossed the 4 million units mark led by robust sports utility vehicle (SUV) sales
Hero MotoCorp was the top laggard on the BSE auto index, falling as much as 3.3% to ₹2,470.60 on weak monthly sales in April.
The stock markets slipped in red after the RBI announced rate hike, led by interest rate sensitive realty stocks.
While the share price of Tata Motors, Mahindra & Mahindra, and Maruti Suzuki dropped up to 3%, the nifty auto index plunged 1.09% at 13,048 points.
FM Nirmala Sithraman announced a slew of measures for the automotive sector including a new battery swapping policy and a focus on electric vehicles for public transport.