BSE Sensex gains on banks, property firms

Reuters Market Eye - The BSE Sensex is up 0.75 percent, while the Nifty rises 0.73 percent. Interest rate-sensitive stocks gain on expectation that weak growth and an easing of inflation will spur the RBI bank to keep policy on hold later this month.

The Reserve Bank of India surprised investors last month by keeping interest rates on hold while noting inflation data would determine its future decisions.

ICICI Bank gains 1.7 percent, while Axis Bank is up 2.2 percent.

Housing Development Finance Corporation gains 1.6 percent, while IDFC is up 1.3 percent.

Among real estate stocks, DLF is up 1.8 percent, while Unitech gains 1.9 percent.

 

(Reporting by Abhishek Vishnoi)