Nifty Realty Index rises 1.55% as RBI keeps repo rate unchanged
Mumbai/IBNS: The rate-sensitive Nifty Realty Index on Friday surged over 1.55 percent as the Reserve Bank of India (RBI) kept the repo rate and liquidity stance unchanged during the June 2024 monetary policy review.
The repo rate is a key determinant of interest rates in the economy as this is the rate at which the central bank lends money to commercial banks.
According to reports, changes in the repo rate in the realty sector can significantly impact borrowing costs and, consequently, demand for real estate.
After RBI governor Shaktikanta Das announced to keep the lending rate unchanged at 6.5 percent in the bank's new monetary policy, the Nifty Realty index surged over 1.55 percent, whereas Indian realty majors Oberoi Realty and Sobha hit a new peak, reports said.
As per data, shares of Suntech Realty shot up over 8 percent.
Stock market experts said the realty sector is a rate-sensitive segment, and the central bank keeping the repo rate unchanged has boosted the morale of Dalal Street bulls regarding the rate-sensitive segment.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Assam Rifles conducts major operation against drug smuggling in Tripura
New railway projects connecting India and Bhutan announced
Canada declares Lawrence Bishnoi Gang a terrorist entity, assets to be frozen
Pakistani government plans to shut down 16 Afghan refugee camps
