ICICI Bank, Bandhan Bank, RBL Bank, City Union Bank stocks rise after RBI keeps repo rate unchanged

Banking stocks turned green in early trade today after Reserve Bank of India (RBI ) kept repo rate unchanged. BSE bankex rose 300 points after the RBI announced  its monetary policy at 10:00 am.

On BSE bankex, ICICI Bank, Bandhan Bank, RBL Bank, City Union Bank, HDFC Bank and Axis Bank stocks rose up to 3%.

Bank Nifty too rose 2.27% or 519 points to 23,708 on BSE.

The index which stood at 26,231  at 9:52 am gained 297 points to hit intra day high of 26, 528 after the RBI governor Shaktikanta Das announced the Monetary Policy Committee (MPC)'s decisions today.

RBI keeps repo rate unchanged at 4%; expects FY21 GDP to shrink 9.5%

Sensex also gained 250 points after the RBI kept lending rates unchanged. The index which stood at 40,129 at 9:50 am zoomed to intra day high of 40,378.

Nifty which stood at 11,810 at 9:45 am rose to 11,924 clocking gain of 114 points after the policy announcement.