The RBI policy review which was announced today at 11 am. said that it has kept the key rates unchanged.
Many industry gurus and analysts had projected a 25 basis point hike in the repo rate amid high food inflation. But this was a surprise move by the RBI governor.
Markets reacted positively to this news and the benchmark index NIFTY peaked at 6230 and is now trading at 6205.
Banking, Auto and Real Estate stocks have gained substantially from this news.
Chart source – Rediff Money