Business Standard

Rate sensitive shares gain on rate cuts hopes, Bankex at 52-week high

Unitech, Bombay Dyeing and Indiabulls Real Estate from realty and SBI, Canara Bank and Bank of India from banking are up 2-3% on the BSE.

SI Reporter  |  Mumbai 

Shares of interest rate sensitive sectors mainly banking and real estate are in focus on optimism of Reserve Bank of India (RBI) easing monetary policy this month.

The Bombay Stock Exchange (BSE), real estate sector index Realty, the largest gainer among the sector indices, is up almost 2% compared to 0.80% rise in benchmark Sensex. The banking index Bankex, trading at its 52-week high, is up 1.1% at 14,508 at 1015 hours

“Goldman Sachs Group’s call for a 0.5% interest-rate cut by India’s central bank this month,” the Bloomberg report suggests.

Goldman Sachs forecasts the repurchase rate, held at 8% since April, will be lowered to 7.5% at the next review on January 29, while BNP Paribas SA sees a 25 basis point reduction. Eleven of 20 analysts surveyed by Bloomberg see a 50 basis point decrease by March 31, the report suggests.

Meanwhile, in last month meeting, kept the key interest rates unchanged, but hinted at easing of rates in January saying with decline in inflation, the focus of monetary policy would shift to removing impediments to growth.

Among the individual stocks, Unitech, Bombay Dyeing and Indiabulls Real Estate from and State Bank of India, Canara Bank and Bank of India from banking are trading higher by 2-3%. 

RECOMMENDED FOR YOU

Rate sensitive shares gain on rate cuts hopes, Bankex at 52-week high

Unitech, Bombay Dyeing and Indiabulls Real Estate from realty and SBI, Canara Bank and Bank of India from banking are up 2-3% on the BSE.

Shares of interest rate sensitive sectors mainly banking and real estate are in focus on optimism of Reserve Bank of India (RBI) easing monetary policy this month.

Shares of interest rate sensitive sectors mainly banking and real estate are in focus on optimism of Reserve Bank of India (RBI) easing monetary policy this month.

The Bombay Stock Exchange (BSE), real estate sector index Realty, the largest gainer among the sector indices, is up almost 2% compared to 0.80% rise in benchmark Sensex. The banking index Bankex, trading at its 52-week high, is up 1.1% at 14,508 at 1015 hours

“Goldman Sachs Group’s call for a 0.5% interest-rate cut by India’s central bank this month,” the Bloomberg report suggests.

Goldman Sachs forecasts the repurchase rate, held at 8% since April, will be lowered to 7.5% at the next review on January 29, while BNP Paribas SA sees a 25 basis point reduction. Eleven of 20 analysts surveyed by Bloomberg see a 50 basis point decrease by March 31, the report suggests.

Meanwhile, in last month meeting, kept the key interest rates unchanged, but hinted at easing of rates in January saying with decline in inflation, the focus of monetary policy would shift to removing impediments to growth.

Among the individual stocks, Unitech, Bombay Dyeing and Indiabulls Real Estate from and State Bank of India, Canara Bank and Bank of India from banking are trading higher by 2-3%. 

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Indbull.RealEst. 67.55 6.46
Bata India 586.05 5.75
Suzlon Energy 14.99 5.27
Castex Tech 7.19 4.96
GMR Infra. 12.61 4.91
> More on BSE Gainers
Company Price() Chg(%)
Indbull.RealEst. 67.65 6.54
Suzlon Energy 14.95 5.28
Bombay Rayon 144.95 5.04
Bata India 584.20 5.02
GMR Infra. 12.60 5.00
> More on NSE Gainers
Company Price() Chg(%)
Titagarh Wagons 91.60 -7.33
Idea Cellular 118.30 -6.52
Jindal Steel 69.90 -6.49
HCL Technologies 750.45 -6.19
CEAT 1097.70 -5.88
> More on BSE Gainers
Company Price() Chg(%)
Jindal Steel 69.80 -6.56
CEAT 1098.60 -6.39
Idea Cellular 118.55 -6.28
HCL Technologies 750.30 -6.20
JMT Auto 53.25 -5.67
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard