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.
NSE
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
| Stock | Change (%) |
| PNB | 2.4 |
| Bank of Baroda | 1.6 |
| Kotak Bank | 1.6 |
| HDFC Bank | 1.2 |
| SBI | 1.1 |
| Bandhan Bank | 0.7 |
| Axis Bank | 0.7 |
| ICICI Bank | 0.6 |
| IDFC First Bank | 0.5 |
| IndusInd Bank | 0.5 |
| Federal Bank | 0.4 |
| AU Bank | -0.7 |
Financial Services
| Stock | Change (%) |
| Piramal Enterprises | 1.4 |
| SBI Life | 1.1 |
| Bajaj Finserv | 0.9 |
| HDFC AMC | 0.8 |
| Muthoot Finance | 0.8 |
| HDFC | 0.7 |
| SBI Card | 0.5 |
| Bajaj Finance | 0.4 |
| Chola Finance | 0 |
| HDFC Life | -0.4 |
| Shriram Transport | -0.5 |
| PFC | -0.5 |
| REC | -0.9 |
| ICICI Prudential | -1.8 |
Auto
| Stock | Change (%) |
| Bharat Forge | 0.8 |
| Bajaj Auto | 0.7 |
| Eicher Motors | 0.6 |
| Maruti | 0.4 |
| MRF | 0.3 |
| Bosch | 0.2 |
| 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
| Stock | Change (%) |
| Phoenix Mills | 2.1 |
| Godrej Properties | 1.4 |
| DLF | 1.3 |
| IBREL | 0.5 |
| Oberoi Realty | 0.4 |
| Sobha | 0.3 |
| Prestige Estates | 0.1 |
| Sunteck Realty | -0.8 |
| Brigade Enterprises | -1 |
| Macrotech | -2.1 |
Consumer Durables
| Stock | Change (%) |
| Titan | 1.4 |
| TTK Prestige | 1 |
| Dixon Tech | 0.8 |
| Bata | 0.2 |
| Rajesh Exports | 0.1 |
| Blue Star | 0 |
| 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 |
Catch latest RBI policy updates with CNBCTV18.com's blog
First Published:Sept 30, 2022 9:41 AM IST
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