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A majority of rate-sensitive stocks in the red after RBI's first rate hike in nearly 4 years

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A majority of rate-sensitive stocks in the red after RBI's first rate hike in nearly 4 years

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The RBI announced an out-of-cycle decision to hike the repo rate by 40 bps and the cash reserve ratio by 50 bps. Here's how rate-sensitive stocks -- or stocks from spaces such as auto, banking and consumer durables -- reacted to the announcements.

A majority of rate-sensitive stocks in the red after RBI's first rate hike in nearly 4 years
Most of the rate-sensitive stocks -- or stocks from spaces sensitive to changes in interest rates -- were in the red on Wednesday, after the Reserve Bank of India (RBI) in a surprise move announced a 40 basis-point hike in the repo rate. That marked the first increase in the repo rate -- or the key rate at which the RBI lends short-term funds to commercial banks -- since August 2018. 
Stocks of the likes of SBI, the HDFC twins, Bajaj Finance, Tata Motors, Maruti Suzuki, DLF, Godrej Properties and Havells finished the day 2-5 percent lower.
RBI Governor Shaktikanta Das said the Monetary Policy Committee decided unanimously to raise the repo rate to 4.4 percent, and to continue with its 'accommodative' stance of policy. The MPC also decided to hike the cash reserve ratio (CRR) -- or a proportion of total deposits that commercial banks need to keep partked with the RBI -- by 50 basis points to 4.5 percent.
Here's how some of rate-sensitive stocks reacted to the RBI's out-of-cycle announcements:
Banking
StockChange (%)
KOTAKBANK0.1
FEDERALBNK-0.7
IDFCFIRSTB-0.8
PNB-1.7
ICICIBANK-2
SBIN-2.6
AXISBANK-2.7
AUBANK-2.9
BANDHANBNK-2.9
HDFCBANK-3.3
INDUSINDBK-3.3
BANKBARODA-4
Financial services
StockChange (%)
ICICIGI-0.2
SBILIFE-0.3
MUTHOOTFIN-1.5
HDFCLIFE-1.6
ICICIPRULI-1.7
HDFCAMC-1.8
RECLTD-2.3
PFC-2.3
HDFC-2.4
BAJAJFINSV-4.1
SBICARD-4.2
BAJFINANCE-4.2
CHOLAFIN-4.4
PEL-4.9
SRTRANSFIN-6.6
Auto
StockChange (%)
TIINDIA0.8
BALKRISIND-0.6
MRF-0.8
ESCORTS-0.9
BHARATFORG-1.1
BOSCHLTD-1.9
TATAMOTORS-1.9
M&M-2.3
EICHERMOT-2.5
HEROMOTOCO-2.8
MARUTI-2.9
SONACOMS-3.5
BAJAJ-AUTO-3.5
TVSMOTOR-3.5
ASHOKLEY-4.2
Realty
StockChange (%)
LODHA0.2
PRESTIGE-0.5
PHOENIXLTD-1.2
BRIGADE-2.1
GODREJPROP-3.9
OBEROIRLTY-4
SOBHA-4.6
DLF-4.9
IBREALEST-5
SUNTECK-5.7
Consumer durables
StockChange (%)
TTKPRESTIG0.2
ORIENTELEC0.1
RELAXO-0.2
RAJESHEXPO-1.1
WHIRLPOOL-1.2
BLUESTARCO-1.5
VGUARD-1.9
KAJARIACER-2.1
BATAINDIA-2.8
CROMPTON-2.8
HAVELLS-3
TITAN-4.5
DIXON-4.5
AMBER-6
VOLTAS-6.3
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