 "Rate-sensitive stocks trade weak ahead of RBI policy")
Shares of rate sensitive sectors such as banking, auto and real estate are trading lower by up to 2% ahead of the Reserve Bank of India (RBI) monetary policy today.
Ashok Leyland, Bajaj Auto, Mahindra and Mahindra, Tata Motors and Maruti Suzuki India from automobiles, State Bank of India (SBI), Yes Bank, Indusind Bank, Bank of Baroda, Canara Bank and Federal Bank from banking and Prestige Estate, DLF and Delta Corp from realty are down in the range of 1-2% on the National Stock Exchange (NSE).
At 0929 hours, CNX Auto index was down 0.92%, followed by the banking share index Bank Nifty, which down 0.72% and CNX Realty down 0.57%.
According to Business Standard reports, RBI is expected to keep interest rates unchanged today, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth.
Forty-one of 45 economists saw the RBI keeping the repo rate at 8% at its policy review, while four expected a reduction of 25 basis points.
Most think the RBI will wait until February or April to ease rates, despite sharply lower inflation, the report added.
Ashok Leyland, Bajaj Auto, Mahindra and Mahindra, Tata Motors and Maruti Suzuki India from automobiles, State Bank of India (SBI), Yes Bank, Indusind Bank, Bank of Baroda, Canara Bank and Federal Bank from banking and Prestige Estate, DLF and Delta Corp from realty are down in the range of 1-2% on the National Stock Exchange (NSE).
At 0929 hours, CNX Auto index was down 0.92%, followed by the banking share index Bank Nifty, which down 0.72% and CNX Realty down 0.57%.
According to Business Standard reports, RBI is expected to keep interest rates unchanged today, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth.
Forty-one of 45 economists saw the RBI keeping the repo rate at 8% at its policy review, while four expected a reduction of 25 basis points.
Most think the RBI will wait until February or April to ease rates, despite sharply lower inflation, the report added.