After RBI hikes repo rate by 25 bps, some bank, auto stocks rally; Nifty Auto jumps 2%
Nifty Bank gained 0.4 per cent to 26,365.50. On the index, IDFC Bank, State Bank of India and Punjab National Bank added the most, rallying up to 6 per cent. However, big private lenders HDFC Bank, ICICI Bank and Axis Bank shed up to 0.3 per cent.
The RBI raised its policy rate for the first time in more than four years. Image source: Pixabay