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.

Related News

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%. 

Read more on:   
|
|

Read More

Former CJI Kapadia joins BSE

Nominated to post by Sebi, takes over as public interest director

Quick Links

 

Market News

Raising the output key to Cairn India's prospects

With crude oil prices benign, increasing oil and gas production is crucial to drive growth

Biocon sees muted quarter, lacks immediate triggers

Reduced exports to West Asia & North Africa, capacity constraints affect sales

Exchanges plan stake sales in depository arms

NSE in talks with investors for offloading stake, BSE considering an IPO; to do so before April

Many listed firms had same auditors for over 10 yrs: IIAS

Proxy advisory body Institutional Investor Advisory Services India (IIAS) has called for periodic rotation of auditors and capping their tenure ...

Freeing diesel : Profound effect across many industries

The decontrol of diesel over the weekend will have a profound effect on the oil industry value chain. It could significantly reduce the fiscal ...

Back to Top