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As RBI hikes repo rate by 50 basis points, here is how rate sensitives are faring

As RBI hikes repo rate by 50 basis points, here is how rate sensitives are faring

As RBI hikes repo rate by 50 basis points, here is how rate sensitives are faring
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By Hormaz Fatakia  Sept 30, 2022 12:11:06 PM IST (Updated)

Banking stocks recover from the day's low and are leading the index recovery after the RBI's policy announcement.

Most interest rate-sensitive stocks recovered from the day's low to trade higher after the Reserve Bank of India's Monetary Policy Committee hiked interest rates by another 50 basis points.

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Economists in a CNBC-TV18 poll had expected the central bank to announce a similar hike. This is the RBI's fourth consecutive rate hike since May this year. Over this period, the key policy rate has risen from 4 percent to 5.90 percent.
Experts like Sanjeev Prasad of Kotak Institutional Equities believe that the central bank may have to raise rates faster than anticipated to combat the aggressive rate hikes by the US Federal Reserve.
PSU Banks like PNB and Bank of Baroda, along with private heavyweights like HDFC Bank and Kotak Mahindra Bank, are leading the recovery with gains between 1-2 percent.
Among financial services names, Piramal Enterprises and Muthoot Finance are gaining up to 1 percent.
Auto and real estate stocks are also recovering from the day's low, with most of them trading with gains.
Here's how the rate-sensitive stocks are faring post the RBI rate hike:
Banking
StockChange (%)
PNB2.4
Bank of Baroda1.6
Kotak Bank1.6
HDFC Bank1.2
SBI1.1
Bandhan Bank0.7
Axis Bank0.7
ICICI Bank0.6
IDFC First Bank0.5
IndusInd Bank0.5
Federal Bank0.4
AU Bank-0.7
Financial Services
StockChange (%)
Piramal Enterprises1.4
SBI Life1.1
Bajaj Finserv0.9
HDFC AMC0.8
Muthoot Finance0.8
HDFC0.7
SBI Card0.5
Bajaj Finance0.4
Chola Finance0
HDFC Life-0.4
Shriram Transport-0.5
PFC-0.5
REC-0.9
ICICI Prudential-1.8
Auto
StockChange (%)
Bharat Forge0.8
Bajaj Auto0.7
Eicher Motors0.6
Maruti0.4
MRF0.3
Bosch0.2
Balkrishna Industries-0.2
Ashok Leyland-0.2
Hero Motocorp-0.3
M&M-0.3
Escorts-0.4
TVS Motor-0.7
Tata Motors-1.5
Sona Comstar-1.9
Real Estate
StockChange (%)
Phoenix Mills2.1
Godrej Properties1.4
DLF1.3
IBREL0.5
Oberoi Realty0.4
Sobha0.3
Prestige Estates0.1
Sunteck Realty-0.8
Brigade Enterprises-1
Macrotech-2.1
Consumer Durables
StockChange (%)
Titan1.4
TTK Prestige1
Dixon Tech0.8
Bata0.2
Rajesh Exports0.1
Blue Star0
V-Guard-0.2
Voltas-0.3
Relaxo-0.4
Havells-0.8
Whirlpool-0.8
Orient Electric-0.8
Amber Enterprises-1.2
Kajaria-1.9
Crompton-2.2
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