Shaktikanta Das, the RBI Governor on Thursday kept the policy rate unchanged for the third time. The projection for CPI inflation has been raised to 5.4 per cent from 5.1 per cent on account of vegetable price surge.
Meanwhile, rate sensitive stocks traded mixed, with indices displaying a deliberate volatility. Shares of Manappuram Finance reached a new 52-week high, while HDFC Bank, Union Bank, DLF traded sluggish. Mahindra & Mahindra shares gained over a per cent and were seen scaling fresh intraday highs. The BSE Sensex and Nifty 50 plunged 0.50 per cen.
Here’s the technical outlook post RBI rate policy:-