Rate sensitive shares trade mixed as RBI keeps repo rate unchanged at 6%

Godrej Properties, Oberoi Realty, Brigade Enterprises and Indiabulls Real Estate were up more than 2% on NSE.

Shares of rate sensitive sectors such as banks, automobiles and real estate were trading mixed after the Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) Governor Urjit Patel, maintained status quo on interest rates.

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