<p>Interest-rate sensitive banking and realty stocks today dropped as much as 6 per cent, dragging down the Sensex by about 170 points, after RBI kept key interest rate unchanged and lowered economic growth estimate to 5.8 per cent for 2012-13, from 6.5 per cent projected earlier.<br /><br /></p>.<p>Indiabulls Real Estate plunged 4.06 per cent, while Unitech fell by 3.11 per cent, D B Realty (2.53 per cent) and DLF (2.41 per cent).<br /><br />Following the losses in these stocks, the BSE realty index was down 2.20 per cent at 1,748.06 in the afternoon.<br /><br />From the financials space, Bank of Baroda tanked 5.44 per cent, Canara Bank (4.56 pc), PNB (3.88 pc), SBI (3.14 pc) and ICICI Bank (2.39 pc).<br /><br />The BSE banking index was trading down by 1.96 per cent at 12,922.17.<br /><br />The BSE 30-stock index, Sensex, was trading 169 points lower at 18,466.82 at 1348 hrs.<br /><br />Marketmen said investors ignored RBI move to reduce the cash reserve ratio - the percentage of deposits banks keep with the Reserve Bank - by 0.25 per cent to infuse additional liquidity that will inject Rs 17,500 crore into the financial system. CRR now stands at 4.25 per cent.<br /><br />"Markets are likely to be slightly disappointed since they were largely factoring in a reduction in CRR and the Reserve Bank has delivered on those lines, so there are no positive surprises.<br /><br />"By maintaining the repo rate, the RBI has reiterated its stance on inflation management since upside risks to inflation continue to persist," Dinesh Thakkar, Chairman & Managing Director, Angel Broking said.<br /><br />According to Sonal Varma, Economist, Nomura: "We see today's decision as prudent and fortifying the RBI's inflation fighting credibility."</p>
<p>Interest-rate sensitive banking and realty stocks today dropped as much as 6 per cent, dragging down the Sensex by about 170 points, after RBI kept key interest rate unchanged and lowered economic growth estimate to 5.8 per cent for 2012-13, from 6.5 per cent projected earlier.<br /><br /></p>.<p>Indiabulls Real Estate plunged 4.06 per cent, while Unitech fell by 3.11 per cent, D B Realty (2.53 per cent) and DLF (2.41 per cent).<br /><br />Following the losses in these stocks, the BSE realty index was down 2.20 per cent at 1,748.06 in the afternoon.<br /><br />From the financials space, Bank of Baroda tanked 5.44 per cent, Canara Bank (4.56 pc), PNB (3.88 pc), SBI (3.14 pc) and ICICI Bank (2.39 pc).<br /><br />The BSE banking index was trading down by 1.96 per cent at 12,922.17.<br /><br />The BSE 30-stock index, Sensex, was trading 169 points lower at 18,466.82 at 1348 hrs.<br /><br />Marketmen said investors ignored RBI move to reduce the cash reserve ratio - the percentage of deposits banks keep with the Reserve Bank - by 0.25 per cent to infuse additional liquidity that will inject Rs 17,500 crore into the financial system. CRR now stands at 4.25 per cent.<br /><br />"Markets are likely to be slightly disappointed since they were largely factoring in a reduction in CRR and the Reserve Bank has delivered on those lines, so there are no positive surprises.<br /><br />"By maintaining the repo rate, the RBI has reiterated its stance on inflation management since upside risks to inflation continue to persist," Dinesh Thakkar, Chairman & Managing Director, Angel Broking said.<br /><br />According to Sonal Varma, Economist, Nomura: "We see today's decision as prudent and fortifying the RBI's inflation fighting credibility."</p>