Auto, bank, financial, real estate stocks trade in red as RBI’s MPC keeps policy rate unchanged

Rate-sensitive stocks, including those in real estate, banking, financial services, and auto sectors, were trading in the negative territory on Friday, February 6.

This comes as the Reserve Bank of India’s (RBI) Governor Sanjay Malhotra announced that the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 5.25%. It also maintained its “neutral” stance.

How stocks are faring

The Indian benchmark indices, SENSEX and NIFTY50, were trading in the red after the RBI Governor Sanjay Malhotra’s address.

At around 11:26 am, SENSEX was trading trading flat with a negative bias at 83,246.07, while the NIFTY50 stood at 25,595.95, reflecting a 46.85 point or 0.18% decline.

Rate-sensitive stocks

At the time of writing, the NIFTY Auto index was trading 0.99% or 274 points lower at 27,390.50.

Just one constituent, Hero MotoCorp (1.3%), was among the gainers of the index, while the rest were in the losers' pack.

Shares of Uno Minda (-5.14%), Samvardhana Motherson International (-4.08%), Tube Investments of India (-4.21%), Sona BLW Precisions Forgings (-3.01%), and Bajaj Auto (-1.68%), among nine others, were the top losers of the NIFTY Auto index.

The Nifty Bank index, which comprises 12 leading banking company shares, stood at 59,670.05, down by 393.60 or 0.66% at the time of writing.

Out of the 12, only three, including Kotak Mahindra Bank (0.82%), Axis Bank (0.32%) and ICICI Bank (0.21%), were on the index’s winners’ list.

The top laggards included IndusInd Bank (-1.90%), Punjab National Bank (-1.88%), Bank of Baroda (-1.79%), Canara Bank (-1.59%) and Union Bank of India (-1.57%), among others.

The NIFTY Financial Services index was trading 0.52% or 142.65 points lower at 27,546.70.

While four out of 20 stocks of the index were trading in the positive territory, the rest were in the red.

The index was dragged down due to selling in the shares of Muthoot Finance (-2.86%), REC (-2.12%), BSE (-1.89%), State Bank of India (-1.63%), Shriram Finance (-1.56%), and 11 others.

The NIFTY Realty index slumped by 7.40 points or 0.90% to trade at 812.30 at the time of writing.

Nine out of 10 constituents of the index were trading in red, the exception being Phoenix Mills (0.55%).

The top losers of the index were Signatureglobal (-3.38%), Godrej Properties (-2.23%), Oberoi Realty (-2.12%), Anant Raj (-1.69%) and Lodha Developers (-1.52%).

Other key indices, such as the NIFTY PSU Bank, were trading in the red, while the NIFTY Private Bank index was in the positive territory.