Rate sensitive shares trade mixed as RBI hikes repo rate by 35 bps to 6.25%

At 10:35 AM; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank indices were up in the range of 0.10% to 0.90%; while Nifty Auto and Nifty Realty indices slipped up to 0.2%.

Shares of rate sensitive sectors such as financials, automobiles and real estate traded on a mixed note after the Reserve Bank of India (RBI) on Wednesday hiked the repo rate by 35 basis points (bps) to 6.25 per cent.

RBI also lowered its GDP growth forecast for FY23 to 6.8 per cent from 7 per cent earlier. The policy rate is now at the highest level since August 2018. The RBI continued to keep the rate hike stance unchanged at “withdrawal of accommodation”.

At 10:35 AM, the Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private