Saturday , February 16 2019

Rate-sensitive stocks gain up to 5 per cent ahead of RBI policy meet.

Shares of ICICI Bank went up by 0.95 per cent and Bank of Baroda saw a increase of 1.38 per cent.


New Delhi: Bank, realty and auto shares today rushed nearly five per cent in before noon trade on BSE ahead of the Reserve Bank’s policy review meet. Between bank stocks, State Bank of India rose 1.06 per cent, while Federal Bank (4.39 per cent) PNB flown 2.01 per cent, and Yes Bank (2.05 per cent) on BSE.

Shares of ICICI Bank went nearby 0.95 per cent and Bank of Baroda saw an increase of 1.38 per cent. As a result, the BSE bank index was also swapping with gains of 0.68 per cent at 21,218.24 points at 11.46 hours. In the midst of realty scrips, Oberoi Realty gained 2.77 per cent NBCC surged 0.59 per cent, and Unitech went up by 5.31 per cent.

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The realty index was dealing higher by 0.71 per cent at 1288.49 at 11.47 hours.

From auto space, stocks of Tata Motors advanced by 0.88 per cent, Bajaj Auto saw an upswing of 0.98 per cent and Hero MotoCorp (1.62 per cent). The auto file was quoted at 20,082.86, up 0.68 per cent.

Home, auto and business loans may get cheaper if the (MPC) Monetary Policy Committee goes for a rate cut. Brokers said gush remained upbeat as depositors set for fresh bets in anticipation of a rate cut. The RBI policy meet, arranged for later in the day, will be the first after demonetisation.

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