Key highlights:
Interest rate sensitive sectors surge: Banking, financial, auto and realty stocks surged up to 8% following the Reserve Bank of India’s decision to keep interest rates unchanged.
Top gainers:
Wipro (+5%),
Infosys (+3%),
Tech Mahindra,
TCS, and
HCL Tech (+2-3%).
Bajaj Finance, UltraTech Cement and Tata Steel also rose.
Reliance was the major contributor to the Sensex index, pushing it up by 192 points.
Sector:
Nifty Bank shares also rose by up to 3 per cent. Bandhan Bank, Federal Bank, AU Small Finance Bank, Axis Bank, ICICI Bank and Bank of Baroda rose between 1-3 per cent. Bajaj Finance, SBI Cards, Bajaj Finserv and IDFC also rose between 1-3.5 per cent.
Shares of Bajaj Finance, SBI Cards, Bajaj Finserv and IDFC also rose between 1% and 3.5%.
Nifty Auto shares rose up to 2.5 per cent, while Apollo Tyre, Balkrishna Industries, Ashok Leyland, Tata Motors and M&M rose between 1-2.5 per cent.
RBI decision:
Repo rate: maintained at 6.5%.
GDP Growth Projection: Real GDP growth for FY25 has been revised to 7.2% from 7%.
Other interest rates: SDF is 6.25%, MSF and bank rate is 6.75%.
