PNB, Kotak Mahindra Bank, other bank stocks rise up to 2% after RBI’s rate hike, Nifty Bank above 55,500

What happened: After the RBI MPC raised the policy repo rate by 25 basis points, bank stocks rose, with Kotak Mahindra Bank up 2% and PNB, Union Bank, Canara Bank, Axis Bank and SBI up around 1% each. The Nifty Bank index gained over 147 points. Key numbers: Repo rate up 25 bps to 5.50%. SDF at 5.25%, MSF and bank rate at 5.75%. Why it matters: Analysts said the hike was already priced in and rising floating rates should improve bank margins. Attention now turns to Q2 earnings, with margins seen as the main pain point while growth and asset quality hold firm.

RBI rate hike lifts PNB, Kotak Mahindra Bank stocks up to 2%, Nifty Bank above 55,500.

RBI rate hike lifts PNB, Kotak Mahindra Bank stocks up to 2%, Nifty Bank above 55,500. — impact context not separately stored; see What changed.