Rate sensitive stocks mixed ahead of RBI policy

Shares from interest rate sensitive banking, automobile and realty sectors are exhibiting a mixed trend ahead of the Reserve Bank of India’s monetary policy statement.

While bank stocks are mostly moving in a tight band around their previous closing levels, some stocks from realty and automobile sectors are down sharply on selling pressure.

Meanwhile, the Sensex is down 47.32 points o.14% at 35,527.85 and the Nifty50 is lower by 23.45 points or 0.24% at 10,091.10.

Among the stocks in the banking space, State Bank of India, Federal Bank, IDFC Bank, Canara Bank, IndusInd Bank and HDFC Bank are down marginally. ICICI Bank, Bank of Baroda, Yes Bank, Axis Bank and Kotak Bank are up 0.2% – 0.5%, while Punjab National Bank is trading 1.2% up.

In the automobile space, Ashok Leyland, Tata Motors, TVS Motor and Mahindra & Mahindra are down 1% – 1.6%. Bajaj Auto is lower by 0.8% and Maruti Suzuki is down marginally. Eicher Motors is flat, while Hero Motocorp (2.3%) is up with a strong gain.

Unitech (down 4.7%), Godrej Properties (down 2.2%) and Oberoi Realty (down 1.7%) are among the major losers in the realty space. Sobha is down 1.3% and Prestige Estates is down marginally. DLF and Delta Corp are up with modest gains, HDIL is gaining nearly 1%, Indiabulls Real Estate is up 1.8% and Phoenix is up 2.3%.


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