Rate-sensitive stocks rise post RBI policy; IIFL Securities, Paytm, Bajaj twins rise up to 20%
In the rate-sensitive space, the financial services sector was the top performer, with IIFL Securities, Bajaj Finance, Paytm rising up to 20%.
In the rate-sensitive space, the financial services sector was the top performer, with IIFL Securities, Bajaj Finance, Paytm rising up to 20%.
The rate-sensitive stocks witnessed choppy trade after the RBI policy announcement, with auto realty, and bankex indices sliding up to 1%.
The BSE Sensex and Nifty50 are likely to open flat as GIFT Nifty was down 7 points, indicating a gap down opening for the bourses.
Rate-sensitive stocks saw mixed reactions with financial services and banking stocks witnessing buying whereas auto and realty stocks seeing marginal selling pressure.
Rate-sensitive stocks slipped in red as the central bank raised the repo rate for the sixth time in a row, which is likely to impact consumption and demand for loans.
The stock markets slipped in red after the RBI announced rate hike, led by interest rate sensitive realty stocks.
The BSE bankex index was the top performer with a 2% gain, led by Bank of Baroda, Federal Bank, Kotak Mahindra Bank, HDFC Bank, and SBI.
The Sensex and Nifty are poised to start the day on a positive note, tracking strong cues from global peers and a similar trend on the SGX Nifty futures.