Interest Rate Sensitive Sectors Trade Mixed After RBI's Status Quo

The headline indices in trade on October 8, 2021 continue to trade in the green as the MPC in its October monetary policy kept the repo rate unchanged with'accommodative' stance.

At the time of writing this copy at around 10:48 am, Sensex was up 0.78 percent at 60,145, while Nifty with gains of 0.73 percent or 129 points traded close to all time high levels at 17,916 points.

Also, there is effected no change in the reverse repo rate and it continues to be at 3.35 percent. India is in a much better place today than at the time of the last MPC meeting. Growth impulses are strengthening, inflation trajectory more favourable than expected, said RBI Governor Shaktikanta Das.

Meanwhile on the announcement, interest rate sensitive sectors auto, bank and realty trade mixed. While, auto and banking pack has extended morning gains, realty continues to decline.

Nifty Bank is up 0.7 percent led by gains in the counters including Bandhan Bank, AU Bank, RBL Bank which gained between 1 to more than 3 percent.

Likewise, within the Nifty Auto, all of the stocks excluding Bosch traded in the green, with maximum gains in the MRF, Tube Investments, Bharat Forge etc. traded with gains of over 1 percent.

On the contrary, realty stocks after record gains are seeing profit booking and are down by up to 4 percent as in the case of Godrej Properties.

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