Rate-sensitive stocks were trading mixed after the Reserve Bank of India cut repo rate by 25 bps to 6 percent on Thursday, in a widely expected move to boost the economy. The central bank kept its monetary policy stance neutral despite subdued inflation.

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All the respondents to CNBC-TV18's poll expected a 25 basis points (bps) rate cut from the monetary policy committee in its first bi-monthly policy of this financial year.

The Nifty Bank fell after the policy announcement but later trimmed losses to turn positive. Nifty PSU Banks, however, rose over half a percent led by gains in Indian Bank, Syndicate Bank, Allahabad Bank and SBI, up in the range of 0.8 percent to 2 percent.

At 12:29 PM, Nifty Bank was trading flat, up 26 points at 30,121.20 after falling over 100 points just after the policy announcement. In comparison, the Nifty was also trading 0.02 percent lower at 11,642.

Other rate-sensitive sectors like auto and realty gained with both Nifty Realty and Nifty Auto up over half a percent.

HeroMoto Corp, Tata Motors, Bajaj Auto, and Maruti Suzuki were top gainers in the auto index, while, Godrej Properties, Prestige Industries, and Phoenix were best performers in the realty sectors

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First Published:Apr 4, 2019 12:52 PM IST