Most rate sensitive stocks shrug off RBI policy decision to end higher

Nifty Realty pared all its losses to end 0.7% higher

Most rate sensitive stocks from auto, banking and realty sectors recovered after falling up to 3% in intraday trade after the Reserve Bank of India (RBI) maintained status quo on interest rates in its sixth monetary policy review of financial year 2016-17.

RBI's six-member Monetary Policy Committee (MPC) headed by governor Urjit Patel kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at

6.25%.

Repo rate is the rate at which the RBI lends money to commercial banks in the event of any shortfall of funds.

Reacting to the policy announcement, the Nifty Bank shed over 1% in intraday deals, but