Shares of rate-sensitive sectors such as banking, finance, auto, and real estate were trading on a mixed note after the Reserve Bank of India’s (RBI) policy decision.

While the Nifty Bank index was trading lower at 49,968.20, the auto index was trading flat at 24,920.30.

NSE realty index, on the other hand, was trading 0.11% higher at 1,020.10. In comparison, the Nifty 50 index was trading 0.24% lower at 24,238.75.

Among the realty, Prestige Estates Projects Ltd. and Sunteck Realty Ltd. were the top gainers, rising over 2% on the National Stock Exchange (NSE).

Private sector banks, such as Federal Bank was up about 1%, HDFC Bank gained 0.44%, while Axis Bank, ICICI Bank, and Bandhan Bank dropped up to 1%.

Meanwhile, shares of automobile players like Tata Motors and Samvardhana Motherson International climbed over 1%, while MRF, Maruti Suzuki, and TVS Motor Company were trading with losses after RBI’s policy announcement.

The RBI Monetary Policy Committee (MPC) has left the repo rate unchanged at 6.5% for the ninth time in a row. A CNBC-TV18 poll had predicted the same. This is also in-line with what other market watchers and economists were expecting.

The decision to keep the rates unchanged was taken with a 4:2 majority. The RBI MPC also decided by a 4:2 majority to remain focused on “withdrawal of accommodation”.

RBI Governor Shaktikanta Das said that the headline inflation increased in June driven by a “stubborn” food inflation component. The moderation in headline inflation on account of a favourable base is likely to reverse in the third quarter of the financial year, he said.

The RBI has also kept its financial year 2025 GDP forecast unchanged at 7.2%. The central bank had revised its projection higher to the current level from 7% in the previous policy.

Inflation forecast for financial year 2025 has also been left unchanged at 4.5% for the financial year 2025.

“The recent RBI policy announcement was largely uneventful, with the central bank keeping policy rates unchanged and continuing the withdrawal of accommodation as expected. The focus remains on tackling inflation, with no concerns about growth, and there are no indications of rate cuts in the near term,” said Santosh Meena, Head of Research at Swastika Investmart Ltd.

Consequently, Meena said the market will now turn its attention back to global cues. Although there are signs of a temporary bottom in the global market, Nifty, and Bank Nifty, there is still a risk of fresh selling pressure at higher levels.

“Technically, Nifty is forming a bottom around the 50-DMA of 24,000, with important hurdles at 24,350, 24,525, and 24,700. Meanwhile, Bank Nifty is trying to establish a base around the 100-DMA of 5,000, with the key resistance area lying between 51,000 and 51,500,” he said.

VK Vijayakumar of Geojit Financial Services said that there is nothing in the policy that will influence the market much. “The market will be focused on the US jobs data today and the market’s response to it and the recession fears in the US.”