Wednesday, 6 June 2018

Monetary Policy positive: RBI raises repo rate by 25 bps

Bank stocks fell soon after the RBI’s Monetary Policy Committee  choose to hike its key policy rate, the repo rate, by 25 basis points to 6.25 per cent, in its second bi-monthly meeting for the fiscal.
Among Nifty Bank stocks, ICICI Bank was trading down by 0.83 per cent at Rs 281.75, HDFC Bank 0.76 per cent at Rs 2,048, Axis Bank 0.55 per cent at Rs 528 and YES Bank 0.52 per cent at Rs 335.

Sun Pharmaceutical Industries Ltd climbed as much as 2.5 per cent to Rs 485.35, and was among the top percentage gainers on the NSE index.



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