Rate sensitive stocks trade mixed after RBI cuts repo rate by 35 bps

Nifty Auto, PSU Bank and Realty indices were trading red in the range of 0.13% to 1%, while Nifty Private Bank and Nifty Bank index up 0.67% and 0.37%, respectively, against an unchanged Nifty50.

Shares of rate sensitive stocks like financial, auto and real estate were trading mixed in afternoon trade despite the Reserve Bank of India's (RBI's) monetary policy committee (MPC) reducing the repo rate by 35 basis points (bps) to 5.40 per cent to help revive the economy.

Repo rate is the rate at which the central bank lends money to the commercial banks, in case of any shortfall of funds.

At 1:20 PM, Nifty Auto, Nifty PSU Bank and Nifty Realty index were trading with losses in the range of 0.13 per cent to 1 per cent, as compared