Rate-sensitive stocks rally after RBI’s 50 bps repo cut; banking, realty, auto gains over 2%
In a move that pleasantly surprised the Street, the Reserve Bank of India’s Monetary Policy Committee (MPC) slashed the repo rate by 50 basis points on Friday, June 6, pushing rate-sensitive stocks into sharp recovery mode. The repo rate now stands at 5.5 per cent, compared to 6 per cent earlier. The central bank also…