Banking stocks end with gains after RBI leaves benchmark lending rate unchanged


Team Udayavani, Feb 10, 2022, 5:19 PM IST

Banking sector stocks on Thursday ended in green after the central bank’s monetary policy committee decided to keep the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance.

Barring Bank of Baroda, shares of all other lenders in the S&P BSE BANKEX index ended with gains.

The highest gainer was Federal Bank Ltd, which rallied 2.2 per cent to end at Rs 104.4.

HDFC Bank jumped 1.77 per cent, Kotak Mahindra Bank was up 1.6 per cent and State Bank of India ended the day with 0.99 per cent gain.

Also, AU Small Finance Bank Ltd closed the counter with 0.76 per cent gain, Axis Bank went up by 0.73 per cent, IndusInd Bank 0.55 per cent, ICICI Bank 0.32 per cent and Bandhan Bank 0.03 per cent. On the other hand, Bank of Baroda was the lone loser with its shares sliding 0.09 per cent to Rs 114.75.

S&P BSE BANKEX ended 1.07 per cent higher at 44,683.73.

The Reserve Bank of India (RBI) on Thursday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance in the backdrop of an elevated level of inflation.

This is the 10th time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo.

Besides, the reverse repo also remains unchanged at 3.35 per cent.

The six-member MPC, which has been on pause since August 2020, voted unanimously to maintain the status quo on the repo rate and by a majority of 5-1 to retain the accommodative policy stance as long as necessary, he said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

World Diabetes Day: One-fourth of people living with diabetes in 2022 are in India, Lancet study estimates

Mangaluru: Lecturer succumbs to food allergy; Organs donated

Karnataka sets up panel for internal reservation among STs

Maharashtra Assembly Elections 2024 | Congress in clutches of urban naxals, became puppet of people with divisive agenda: J P Nadda

Even if Indira Gandhi returns from heaven, Article 370 will not be restored: Amit Shah

Tilak Varma slams ton as India take 2-1 lead against South Africa with 11-run win in third T20I

PM Modi to visit Bihar’s Jamui to commemorate Janjatiya Gaurav Divas

Related Articles More

FSSAI directs online platforms to deliver food items with minimum 45 day shelf life

Retail inflation rises to 6.21 pc in Sep amid higher food prices

Sensex, Nifty slump 1 pc amid unabated foreign fund outflows, weak global trends

Integrated Air India-Vistara entity’s first flight takes off from Doha

PHF Leasing Limited Transforms into Credifin

MUST WATCH

Punganur Cow

Rangoli design

Jagadeesh Nagaraj Kudupali Audio Viral

Gho Pooja in Deepavali Festival

Melukote Deepavali


Latest Additions

World Diabetes Day: One-fourth of people living with diabetes in 2022 are in India, Lancet study estimates

CM Siddaramaiah says no decision taken on 4 per cent Muslim reservation in govt tenders

Haryana Shiv Sena leader claims he received threat call from Bishnoi gang

Vitla: Tree falls on truck, blocks Mani-Mysuru State Highway

Mangaluru: Lecturer succumbs to food allergy; Organs donated

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.