Rate sensitive shares trade firm as RBI hikes repo rate by 50 bps to 5.4%

Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty indices gained up to 1%

Shares of rate sensitive sectors like financials including banks, non-banking finance companies (NBFCs), housing finance companies (HFCs) and insurance companies, along with automobiles and real estate traded firm after the Reserve Bank of India (RBI) hiked repo rate by 50 basis points to 5.4 per cent, while retained real gross domestic product (GDP) growth rate at 7.2 per cent for the current financial year 2022-23 (FY23).

At 10:38 am, Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank, and Nifty Realty indices were up in the range of 0.45 per cent to 1 per cent.