Shares of interest rate-sensitive sectors such as realty, banking and auto met with heavy selling pressure on Tuesday, falling up to 8 per cent, after the RBI hinted that there may not be any more rate cuts in the near-term.
Among realty scrips, Prestige Estates registered a sharp fall of 8.11 per cent on the BSE, followed by Indiabulls Real Estate (6.53 per cent), Godrej Properties (5.08 per cent), DLF (4.31 per cent) and HDIL (4.23 per cent).
Among bank stocks, Union Bank of India lost 8.08 per cent, SBI (4.28 per cent), Canara Bank (4.66 per cent), Axis Bank 4.20 per cent, Bank of India 3.74 per cent, Yes Bank 3.72 per cent, ICICI Bank 3.70 per cent and Bank of Baroda.
Auto stocks witnessed heavy selling, with Hero MotoCorp shedding 3.76 per cent, Bajaj Auto 2.88 per cent, M&M 2.56 per cent, Maruti Suzuki 1.31 per cent and Tata Motors 1.05 per cent.
