Rate-sensitive stocks gain after WPI data

Fri Dec 14, 2012 2:53pm IST

People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009. REUTERS/Arko Datta/Files

People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009.

Credit: Reuters/Arko Datta/Files

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Reuters Market Eye - The Sensex is up 0.25 percent while the Nifty gains 0.23 percent. Gains come after the wholesale price index rose a slower-than-expected 7.24 percent.

Stocks in rate-sensitive sectors such as banks and real estate are leading the gains on rising hopes the Reserve Bank of India will move towards easing interest rates starting early next year.

The RBI's next policy review is on December 18. Although the central bank is not expected to ease policy then, traders said they could cut the cash reserve ratio or sound more dovish on inflation.

ICICI Bank (ICBK.NS) gains 0.6 percent, while State Bank of India is up 1.7 percent.

In the real estate sector, DLF (DLF.NS) is up 1.3 percent while Unitech (UNTE.NS) gains 0.9 percent.

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