Rate sensitive stocks trade higher ahead of RBI policy; Central Bank jumps 9%

Among the stocks in the PSU banking space, Central Bank, Indian Bank, Oriental Bank of Commerce, Canara Bank and Bank of Baroda contributed to the surged today.

Aug 07, 2019 05:08 IST India Infoline News Service

sensex
Shares from interest rate sensitive banking, automobile and realty sectors are trading higher on the Nifty index ahead of the Reserve Bank of India's monetary policy statement.

Among the stocks in the PSU banking space, J&K Bank surged 20%  and is among the top gainers on the index. Followed by Central Bank, Indian Bank, Oriental Bank of Commerce, Canara Bank and Bank of Baroda, which contributed to the index gain.

From the realty space, Prestige gained 3%, Sobha rose 2%, Mahindra Life, DLF, Godrej Properties and Brigade were among other top gainers, while losers include SunTeck, Indiabulls Real Estate and Oberoi Realty.

In the automobile space, Amara Raja, Hero MotoCorp, TVS Motor and Tata Motors rose 1%, while M&M slipped 1.5% ahead of Q1 numbers. Maruti, Motherson Sumi and Bosch were trading in the negative zone.

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

BSE Midcap and Smallcap indices were up 0.66%and 0.94%, respectively, outperforming the benchmark Sensex.

Meanwhile, the Indian rupee opened 15 paise down at 70.98 against the US dollar. Sustained outflow by overseas investors and higher crude oil prices weighed on the domestic currency. 

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