homemarket NewsSBI, ICICI Bank, Tata Motors rise but HDFC, SBI Cards, Maruti fall after RBI's 50 bps hike

SBI, ICICI Bank, Tata Motors rise but HDFC, SBI Cards, Maruti fall after RBI's 50-bps hike

Interest rate-sensitive stocks — or stocks from pockets responsive to interest rates, such as financial, auto, consumer durables and real estate — saw mixed moves after the RBI hiked the COVID-era repo rate by 50 basis points.

By CNBCTV18.com Aug 5, 2022 10:21:46 AM IST (Updated)

2 Min Read

Interest rate-sensitive stocks — or stocks from spaces likely to be impacted by changes in interest rates — saw mixed moves after the RBI announced a 50 basis points hike in the COVID-era interest rate. The central bank's Monetary Policy Committee — the panel led by RBI Governor Shaktikanta Das that decides benchmark interest rates in the country — has now increased the repo rate by a total 140 bps since May. 
Half of bankers in a CNBC-TV18 poll had expected the RBI to hike the repo rate — the key interest rate at which it lends money to commercial banks — by 35 basis points.
In the banking and financial services pack, stocks such as SBI, ICICI Bank, Kotak Mahindra Bank and Axis Bank rose, but HDFC Bank was flat, and scrips such as HDFC, SBI Cards and IndusInd in the red.