Banks, auto and realty stocks soar on Fed decision; RBI meet eyed:-

 

 NEW DELHI: Rate sensitive stocks in banks, realty, capital goods and auto sector rallied in morning trade on Thursday, supported by sharp short covering rally as the US Federal Reserve deferred scaling back its $85 billion stimulus program. 

  Rate sensitive stocks will be in focus in Friday's session also, ahead of the Reserve Bank of India's (RBI) policy review. Expectations are mixed, while some still believe a substantial roll-back of the tightening measures, others fear that a decisive rate hike is on the cards. 

 

  Tracking the momentum, the BSE Sensex rallied over 500 points in morning trade while Nifty managed to regain its key psychological level of 6000 in trade today. The 50-share Nifty index rallied over 3 per cent to touch its highest level since July 23 in trade today. 

 

  At 09:30 a.m.; the S&P BSE Banking index was trading 6.3 per cent higher led by gains in Yes Bank which was trading 15 per cent higher, followed by Axis Bank which was up 7 per cent, Federal Bank and Punjab National Bank were trading over 5 per cent each. 

 

  ICICI Bank was the leading gainer on the BSE Sensex, up 8 per cent to Rs 1051.25. 

 

  The BSE Realty Index was trading 3.6 per cent higher, led by gains in Prestige Estate, Anant Raj Industries, Unitech, HDIL, IndiaBulls Real Estate and DLF which were trading 3-6 per cent. 

 

  The BSE Auto index was trading 2.9 per cent higher, led by gains in Bajaj Auto, Cummins India, Ashok Leyland, Hero MotoCorp, Tata Motors and Mahindra & Mahindra were trading 1-5 per cent. Maruti Suzuki was the lead gainer in the Auto index, up 6 per cent at Rs 1482.80. 

  Here is a list of top gainers on the S&P BSE Banking index as on :-

 

 

 

               Akanksha shanu

               PGDM 1st sem.