As against the expectation of a 25 bps points cut RBI has cut the repo rate by 50 bps. Banking stocks are up in the range of 0.60% to 2% on the announcement.
Majority of the banking shares are trading on a positive note as the RBI announced the monetary policy today.
State Bank of India is the biggest gainer in banking shares, which gained 2.28%, Canara Bank is up 1.85%, OBC up by 1.43% and ICICI Bank is up by 0.75%.
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Majority of the banking shares are trading on a positive note as the RBI announced the monetary policy today.
State Bank of India is the biggest gainer in banking shares, which gained 2.28%, Canara Bank is up 1.85%, OBC up by 1.43% and ICICI Bank is up by 0.75%.
....more info