Shares of interest rate-sensitive sectors such as banking, real estate and autos were trading lower ahead of the Reserve Bank of India (RBI) policy review at 11 am today.
ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Axis Bank and Yes Bank from banking, Tata Motors, Ashok Leyland and Motherson Sumi Systems from auto and Oberoi Realty, Unitech, Indiabulls Real Estate and Godrej Properties from the real estate sector were decline between 2%-4% on the National Stock Exchange (NSE).
Bank Nifty, the banking share index, was dipped 1.8% or 305 points at 16,795 on the NSE. CNX Realty and CNX Auto index were down 1% each at 09:17 am.
According to Reuters report, the RBI is expected to cut its key repo rate to a four-year low on Tuesday to help support the domestic economy at a time when consumer inflation is at a record low, but may express caution about easing further as price risks still loom. CLICK HERE TO READ FULL REPORT.
The central bank is expected to cut its key repo rate by at least 25 basis points, but investors' focus would be on the tone of the central bank at a time when both the WPI and retail inflation are falling, said broking firm Angel Broking in client note.
ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Axis Bank and Yes Bank from banking, Tata Motors, Ashok Leyland and Motherson Sumi Systems from auto and Oberoi Realty, Unitech, Indiabulls Real Estate and Godrej Properties from the real estate sector were decline between 2%-4% on the National Stock Exchange (NSE).
Bank Nifty, the banking share index, was dipped 1.8% or 305 points at 16,795 on the NSE. CNX Realty and CNX Auto index were down 1% each at 09:17 am.
According to Reuters report, the RBI is expected to cut its key repo rate to a four-year low on Tuesday to help support the domestic economy at a time when consumer inflation is at a record low, but may express caution about easing further as price risks still loom. CLICK HERE TO READ FULL REPORT.
The central bank is expected to cut its key repo rate by at least 25 basis points, but investors' focus would be on the tone of the central bank at a time when both the WPI and retail inflation are falling, said broking firm Angel Broking in client note.