While the RBI decision to hold the key rates unchanged had sent the financial stocks running for cover and made the overall market ignore the impact of key election outcome in Greece, one of the most interest rate sensitive sectors-auto- held its own in the markets today.
It was not that auto stocks did not lose value but they escaped the bruising that some of the market heavyweights from the financial sector sustained.
Bank stocks like SBI, which shed Rs 88.80 to trade at Rs 2094, HDFC Bank which lost Rs 15.35 at Rs 532.50 or ICICI Bank that shed Rs 28.40 to Rs 816.50 had to face the selling fury from investors after the RBI shocker.
In comparison, the auto stocks suffered less, though the impact of RBI's decision on the auto industry may intensify the slowdown the industry is witnessing.
Hero MotoCorp lost Rs 14.45 to slip to Rs 1,985.60 and Maruti Suzuki shed Rs 16.55 to trade at Rs 1091.45. But others like Tata Motors and M&M suffered less and Bajaj Auto was actually trading in the green. Tata Motors was down by just Rs 1.05 at Rs 239 and M&M was down by Rs 4.90 to Rs 692.50. But Bajaj Auto was the only auto gainer in the Sensex-up by Rs 10.45 to Rs 1,538 on the BSE.