Market Reacts: Auto, Realty, Bank Stocks Slide Amid Steady RBI Rates
Interest rate-sensitive stocks in auto, realty, and banking sectors fell following the RBI's decision to maintain its policy interest rate. The central bank's stance considers risks associated with US trade policies. Notable stock declines include Bosch, DLF, and IndusInd Bank, while others like Bajaj Auto saw minor gains.
- Country:
- India
Interest rate-sensitive stocks in auto, realty, and banking sectors took a hit on Wednesday, dropping by 5% after the Reserve Bank of India (RBI) kept its policy interest rate unchanged. The decision by policymakers was influenced by the risks posed by US President Donald Trump's trade policies.
Prominent declines included Bosch, which fell 4.85% to Rs 38,617.75, while Hyundai Motor India and HeroMoto Corp saw decreases of 1.95% and 1.31%, respectively. Meanwhile, the BSE Auto index fell 0.85% to 52,907.31.
The banking sector was not spared, with IndusInd Bank declining by 2.58% to Rs 798.10. However, some banking stocks like ICICI Bank and HDFC Bank edged up slightly. The overall sentiment in the market was reflected in the BSE Sensex, which dropped 0.10% to 80,629.26.
(With inputs from agencies.)
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- RBI
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- auto stocks
- realty stocks
- bank stocks
- BSE
- index
- trade policies
- Sensex
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