Shares of rate-sensitive stocks gained after the Reserve Bank of India (RBI) on Friday announced measures to infuse liquidity.
These measures would help mitigate the damage caused to the economy and businesses due to the 40-day nationwide lockdown in the wake of the covid-19 outbreak.
Rate-sensitive stocks in realty, banks and auto sectors rallied over optimism that the central bank's announcements will enable more lending.
At 11:34 am, BSE Bankex jumped 3.17%, BSE Auto was up 2.90%, while BSE Realty traded 4.70% higher. Overall, the benchmark indices surged nearly 2%.