Indian bank stocks rise as expectations of RBI rate hike grow
HDB HDFC Bank Ltd ADR
$22.42 +1.40%
View chart & analysis → - 1Indian bank stocks rose as investors prepared for a potential interest rate hike by the Reserve Bank of India (RBI) this week amid signs of rising inflationary pressures.
- 2Kotak Mahindra Bank rose 3.77% to 431.70 rupees.
- 3Nearly 60% of economists surveyed by Reuters expect a 25 basis point rate hike.
So what's the key point?
Bank stock prices rose on news that the Reserve Bank of India might raise interest rates due to rising inflation. With 60% of economists expecting a rate hike, share prices for companies like Kotak Mahindra Bank increased.
Source Investing.com +2 · View original ↗
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