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Shares of bank, real estate companies gain after RBI announcements
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Interest-rate sensitive bank, realty and auto shares on Friday gained up to 12.40 per cent after the Reserve Bank of India cut benchmark interest rate by 75 basis points to deal with the hardship caused due to the outbreak of COVID-19.
Shares of Axis Bank were trading higher by 12.40 per cent, IndusInd Bank 6.25 per cent, State Bank of India 5.19 per cent, Federal Bank 4.55 per cent, ICICI Bank 2.61 per cent, RBL Bank 2 per cent, Kotak Mahindra Bank 1.47 per cent and HDFC Bank 0.21 per cent.
Led by rise in these companies, the BSE Bankex rose by 4.12 per cent. The Reserve Bank of India (RBI) on Friday cut benchmark interest rate by 75 basis points to 4.4 per cent to in wake of the outbreak of COVID-19.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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