The RBI keeps repo rate unchanged at 6% and reverse repo rate at 5.75%. Repo rate is the rate at which the RBI lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation.
The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth, the RBI said in a press release.
At 02:35 PM; Nifty Realty was trading nearly 2% higher and Nifty Auto index up 0.57%. Nifty PSU Bank was index quoting flat, while Nifty Bank and Nifty Private Bank trading lower by less than 1%, as compared to a marginal 0.04% decline in the benchmark Nifty 50 index.
Godrej Properties, Oberoi Realty, Brigade Enterprises and Indiabulls Real Estate from the real estate sectors were up more than 2% on the National Stock Exchange (NSE). Ashok Leyland, Amara Raja Batteries and Apollo Tyres from the Nifty Auto index up in the range 2% to 6%.
HDFC Bank, YES Bank and Punjab National Bank were down an over 1%, while IDFC Bank, Federal Bank, ICICI Bank, State Bank of India (SBI) and Bank of Baroda trading higher by up to 1%.
Thus far in February, Nifty Realty (down 9%), Nifty PSU Bank (6.6%) and Nifty Bank (5.7%) had underperformed the Nifty 50 index, which down 4.8% till Tuesday. Nifty Auto index was down 3.7% during the period.
|I O B||21.05||20.45||2.93|
|M & M||748.05||754.35||-0.84|