Banking stocks rise as investors cheer 35 bps repo rate hike, PSU banks big winners2 min read . Updated: 07 Dec 2022, 10:34 AM IST
- PSU bank stocks were big winners, while notable gains were also seen in private bankers.
Banking stocks picked up momentum after RBI hiked the repo rate by 35 basis points in line with expectations on Wednesday. PSU bank stocks were big winners, while notable gains were also seen in private bankers. RBI has hiked the repo rate to 6.25% -- taking it to the highest level since August 2018. So far in FY23, RBI has been hiking the policy repo rate to tame CPI inflation which is above its tolerance limit for the tenth consecutive month.
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