Rate sensitive stocks trade mixed after RBI cuts repo rate by 25 bps

The RBI slashed the GDP growth projection for financial year 2019-20 (FY20) to 6.1 per cent from the earlier forecast of 6.9 per cent.

Shares of rate sensitive sectors such as banking, automobiles and real estate were trading mixed in the afternoon deals on Friday, thus erasing their early morning gains despite the Reserve Bank of India (RBI) slashing the repo rate by 25 basis points (bps) to 5.15 per cent.

Repo rate is the rate at which the central bank lends money to the commercial banks, in case of any shortfall in funds. Also, the central bank maintained its accommodative policy stance.

At 12:18 pm, Nifty Bank, Nifty PSU Bank, Nifty Private Bank and Nifty Realty indices were down 1 per