Following the Reserve Bank of India’s (RBI) policy announcement, shares in rate-sensitive industries including banking, finance, auto, and real estate are seeing a stable day. The financial industry is where the most notable effects are observed.
At 50,243.45, the Nifty Bank index was up. It gained 611 points in a single day. Over the past month, the Bank Nifty Index has produced a range of results. The bank nifty fell more than 2.69% in the previous week, and in the previous month, it had a negative return of 4.26%.
Prestige Estates Projects Ltd. and Sunteck Realty Ltd. were two of the real estate industry’s biggest risers, increasing more than 2% on the National Stock Exchange (NSE).
For the ninth time in a row, the RBI Monetary Policy Committee (MPC) chose to maintain the repo rate at 6.5%. The MPC will continue to concentrate on the “withdrawal of accommodation” following the 4:2 majority decision.
Shaktikanta Das, governor of the RBI, observed that June saw a rise in headline inflation, which was mostly driven by ongoing food inflation. He said that the third quarter of the fiscal year would probably see a reversal of the headline inflation slowdown that has been linked to a favorable base. Additionally, the RBI has kept its GDP growth prediction for FY25 at 7.2%, which is an increase from 7% in the prior policy review. The 4.5% inflation estimate for FY25 is still in place.
