Realty stocks up ahead of RBI policy outcome
stocks such as Godrej Properties BSE 2.30 % (up 2.52 per cent), Prestige Estates Projects BSE 1.46 % (up 1.72 per cent), Phoenix Mills BSE 1.26 % (up 1.18 per cent), Delta Corp BSE 0.64 % (up 0.84 per cent), Unitech BSE -0.15 % (up 0.76 per cent) and DLF (up 0.66 per cent) were gaining in Wednesday’s morning trading session, expecting a rate cut by the Reserve Bank of India (RBI)
RBI’s monetary policy review outcome is due later during the day
The Nifty Realty index was trading 0.78 per cent up at 276 around 10.18 am (IST), while benchmark Nifty was 0.44 per cent up at 9,902. BSE Sensex was trading 0.42 per cent up at 31,628.
Sobha (down 0.90 per cent) was the only component of the index that was trading in the red around that time
Equity benchmarks extended gains after a cautious start on Wednesday. Investors looked optimistic in the anticipation of a rate cut by the Reserve Bank of India (RBI). However, bankers are of the view that the RBI would maintain status quo as inflation has risen
A firm trend in most markets in Asia following a record close on Wall Street also boosted sentiment here
Among the gainers, oil and pharma stocks led. Hindustan Petroleum Corporation BSE 1.70 %, Sun Pharma BSE 3.31 %, Aurobindo Pharma BSE 1.71 %, Reliance Industries BSE 1.58 %, Dr Reddy’s and ITC BSE 1.40 % were the top gainers in the Nifty index.
On the other hand, Bharti Airtel BSE -1.70 %, Coal India BSE -0.50 %, Tata Steel BSE -0.35 %, Tata Consultancy Services BSE -0.49 %, Zee Entertainment BSE -0.51 % and Eicher Motors BSE -0.28 % were the top losers in the Nifty pack.
On the NSE, 1116 stocks were advancing, compared with 448 stocks declining and 396 stocks remaining unchanged.
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