Rate Sensitive stocks gain ahead of RBI policy; Ashok Leyland, Syndicate Bank stocks gain

HDFC, Reliance and Infosys contributed the most to the upmove in Sensex, whereas ITC, Kotak Mahindra Bank and HUL were the biggest drags.

Oct 04, 2019 05:10 IST India Infoline News Service

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Shares from interest-rate sensitive auto, banking and realty sectors are trading higher ahead of the Reserve Bank of India (RBI) monetary policy decision.

Among the stocks in the PSU banking space, Syndicate Bank climbed 4% and is among the top gainers on the index. Shares of SBI, J&K Bank and Allahabad Bank were among the top contributors to the index's gain, up almost 2% each. Central Bank, PNB and Indian Bank were trading slightly higher.

From the auto space, the index is trading higher at 7,552.90 levels. Ashok Leyland soared 5%, followed by Apollo Tyre, Hero MotoCorp, Maruti and M&M, which were the other top gainers on the Auto index.

The Nifty Realty index is also up at 251.85 levels led by Brigade, Godrej Prop, DLF and Mahindra Life.

HDFC, Reliance and Infosys contributed the most to the upmove in Sensex, whereas ITC, Kotak Mahindra Bank and HUL were the biggest drags.

BSE Midcap and Smallcap indices were up 0.28%and 0.38%, respectively, outperforming the benchmark Sensex.

Meanwhile, the Sensex traded 230 points higher at 38,337 while the Nifty was up 54 points at 11,367. 

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