New Delhi, Dec 6 (PTI) Rate-sensitive stocks such as
banking, realty and auto ended in the negative today after the
RBI kept the policy unchanged leaving little scope for banks
to lower interest rates on housing and auto loans.
The 6-member Monetary Policy Committee (MPC), headed by
Reserve Bank of India (RBI) Governor Urjit Patel, in its 5th
bi-monthly review for the current fiscal, kept repo rate
unchanged at 6 per cent and reverse repo at 5.75 per cent.
Following the announcement, stock of Kotak Mahindra Bank
today settled down 0.06 per cent while Yes Bank declined 0.76
per cent, State Bank of India 2.21 per cent, Federal Bank 0.23
per cent, Punjab National Bank 2.24 per cent and Bank of
Baroda 2.27 per cent.
The BSE bank index finished at 28,110.49, down 1.23 per
India Inc has been demanding a lower interest rate to
further build on positive sentiment generated by the economic
rebound and upgrade of the country’s sovereign rating by
In realty play, Godrej Properties declined 1.55 per cent,
Prestige Estates Projects 2.24 per cent, Oberoi Realty 0.62
The BSE realty index closed at 32,597.18, down 0.63 per
“After the in-line RBI policy, Indian market shifted its
focus towards the global market, which was under the negative
trend. But given that interest rates are unlikely to reduce at
least in the near to medium term, rate-sensitive stocks slid
due to rising oil prices and concern over fiscal slippage,”
Geojit Financial Services Head of Research Vinod Nair said.
In the auto pack, Mahindra & Mahindra skidded 1.37 per
cent, Tata Motors 1.38 per cent and Bajaj Auto 1.65 per cent.
The BSE auto index settled lower by 0.73 per cent at
This is published unedited from the PTI feed.