Most of the rate-sensitive stocks -- or stocks from spaces sensitive to changes in interest rates -- were in the red on Wednesday, after the Reserve Bank of India (RBI) in a surprise move announced a 40 basis-point hike in the repo rate. That marked the first increase in the repo rate -- or the key rate at which the RBI lends short-term funds to commercial banks -- since August 2018.
Stocks of the likes of SBI, the HDFC twins, Bajaj Finance, Tata Motors, Maruti Suzuki, DLF, Godrej Properties and Havells finished the day 2-5 percent lower.
RBI Governor Shaktikanta Das said the Monetary Policy Committee decided unanimously to raise the repo rate to 4.4 percent, and to continue with its 'accommodative' stance of policy. The MPC also decided to hike the cash reserve ratio (CRR) -- or a proportion of total deposits that commercial banks need to keep partked with the RBI -- by 50 basis points to 4.5 percent.
Here's how some of rate-sensitive stocks reacted to the RBI's out-of-cycle announcements:
Banking
| Stock | Change (%) |
| KOTAKBANK | 0.1 |
| FEDERALBNK | -0.7 |
| IDFCFIRSTB | -0.8 |
| PNB | -1.7 |
| ICICIBANK | -2 |
| SBIN | -2.6 |
| AXISBANK | -2.7 |
| AUBANK | -2.9 |
| BANDHANBNK | -2.9 |
| HDFCBANK | -3.3 |
| INDUSINDBK | -3.3 |
| BANKBARODA | -4 |
Financial services
| Stock | Change (%) |
| ICICIGI | -0.2 |
| SBILIFE | -0.3 |
| MUTHOOTFIN | -1.5 |
| HDFCLIFE | -1.6 |
| ICICIPRULI | -1.7 |
| HDFCAMC | -1.8 |
| RECLTD | -2.3 |
| PFC | -2.3 |
| HDFC | -2.4 |
| BAJAJFINSV | -4.1 |
| SBICARD | -4.2 |
| BAJFINANCE | -4.2 |
| CHOLAFIN | -4.4 |
| PEL | -4.9 |
| SRTRANSFIN | -6.6 |
Auto
| Stock | Change (%) |
| TIINDIA | 0.8 |
| BALKRISIND | -0.6 |
| MRF | -0.8 |
| ESCORTS | -0.9 |
| BHARATFORG | -1.1 |
| BOSCHLTD | -1.9 |
| TATAMOTORS | -1.9 |
| M&M | -2.3 |
| EICHERMOT | -2.5 |
| HEROMOTOCO | -2.8 |
| MARUTI | -2.9 |
| SONACOMS | -3.5 |
| BAJAJ-AUTO | -3.5 |
| TVSMOTOR | -3.5 |
| ASHOKLEY | -4.2 |
Realty
| Stock | Change (%) |
| LODHA | 0.2 |
| PRESTIGE | -0.5 |
| PHOENIXLTD | -1.2 |
| BRIGADE | -2.1 |
| GODREJPROP | -3.9 |
| OBEROIRLTY | -4 |
| SOBHA | -4.6 |
| DLF | -4.9 |
| IBREALEST | -5 |
| SUNTECK | -5.7 |
Consumer durables
| Stock | Change (%) |
| TTKPRESTIG | 0.2 |
| ORIENTELEC | 0.1 |
| RELAXO | -0.2 |
| RAJESHEXPO | -1.1 |
| WHIRLPOOL | -1.2 |
| BLUESTARCO | -1.5 |
| VGUARD | -1.9 |
| KAJARIACER | -2.1 |
| BATAINDIA | -2.8 |
| CROMPTON | -2.8 |
| HAVELLS | -3 |
| TITAN | -4.5 |
| DIXON | -4.5 |
| AMBER | -6 |
| VOLTAS | -6.3 |
First Published: May 4, 2022 2:41 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM