Banks, realty, autos gain as FM sparks hope of easing monetary policy

Banks, auto makers and property developers gain after the finance minister's comments about interest rates being high spark hopes the government will exert pressure on the RBI to ease monetary policy.

The NSE's banking index gained 0.8 percent for a second day of advances: ICICI Bank rallied 1.5 percent, while State Bank of India has risen 1.4 percent.

Reuters

Bank stocks also benefit after P Chidambaram said the government would shortly announce measures tackling investments into mutual funds.

Tata Motors is up3.3 percent, while Bajaj Auto has advanced 1.8 percent as lower interest rates would reduce financing costs for vehicle purchases.

DLF gained 1.5 percent, a day after India's biggest property company said April-June net profit fell 18 percent because of high interest rates and slowing home sales.

Reuters


Updated Date: Dec 20, 2014 19:11 PM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See