Among bank stocks, ICICI Bank fell by 3.02%, Axis Bank was down 2%, State Bank of India lost 2% and Kotak Mahindra Bank slipped 1.67% on BSE
Bank, auto and realty stocks were down by as much as 5% on Tuesday post Reserve Bank of India (RBI) policy where the central bank left the key interest rate unchanged.
Among bank stocks, ICICI Bank fell by 3.02%, Axis Bank was down 2%, State Bank of India lost 2% and Kotak Mahindra Bank slipped 1.67% on BSE.
Similarly, Bank of Baroda stocks went down by 0.94%, Yes Bank fell by 0.91%, Punjab National Bank 0.67% and HDFC Bank 0.54%.
Led by the losses in these stocks, the BSE bank index lost 1.68% to end at 17,065.50.
"The RBI has kept the key policy rate unchanged today, which is along the expected lines. We believe there remains a headroom for rate cut going ahead, but more clarity to emerge post budget," Angel Broking Chairman and MD, Dinesh Thakkar said.
From realty pack, Indiabulls Real Estate plunged by 5.08%, DLF was down 3.51%, Oberoi Realty (2.34%), Unitech (1.80%), D B Realty (0.98%) and Godrej Properties (0.91%).
The BSE realty index fell by 1.71 per cent to 1,190.75.
Among auto scrips, Tata Motors lost 2.56%, Maruti Suzuki was down 1.79%, Mahindra & Mahindra declined by 1.46% and Hero MotoCorp fell by 0.52%.
Following the dip in these stocks, the BSE auto index slipped by 1.39% to end at 16,748.33.
RBI Governor Raghuram Rajan on Tuesday left the key interest rate unchanged citing inflation risks and growth concerns, while pegging further easing of monetary policy on government's budget proposals.
Rajan said RBI "continues to be accommodative" but would look forward to the government's budget proposals on February 29 as also the inflation trend.
RBI, which had cut interest rate by 125 basis points or 1.25% in 2015, retained the benchmark repo (lending) rate at 6.75 per cent for the second straight bi-monthly policy of the current fiscal. The next review or the first for the 2016-17 is scheduled for April 5.
Reserve Bank's dovish stand on policy rates on Tuesday failed to soothe jittery investor nerves as the market benchmark Sensex plummeted by 286 points to close at 24,539.
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