Nifty Realty index closes under pressure post RBI policy
DSIJ Intelligence / 07 Dec 2016
Real Estate sector was under pressure, post RBI maintaining status quo in its fifth bi-monthly Monetary Policy Committee meet headed by RBI governor. Repo rate was unchanged at 6.25 per cent, whereas markets had factored in a 25-bps cut.
Real Estate sector was under pressure, post RBI maintaining status quo in its fifth bi-monthly Monetary Policy Committee meet headed by RBI governor. Repo rate was unchanged at 6.25 per cent, whereas markets had factored in a 25-bps cut.
Real Estate had seen a run up pre-policy meet as it was widely expected that the central bank will be going for a rate cut which would have helped the sector to tide over conditions, post the demonetisation move announced by the government in early November.
Realty index was anticipating a ray of hope when it came to the cost of funds for the home buyers which was expected to come down drastically which now seems to have taken a back seat.
However, with the RBI removing the CRR limit from the commercial banks will help the bank with higher liquidity and subsequently lower rates in times to come.
Realty Losers: -
HDIL- 4.5 %.
DLF- 3.5 %
Indiabulls Real Estate- 2.3 %
Realty Gainers: -
Sobha- 3.45 %
Prestige Estate- 3.25 %
Oberoi Realty- 1.9 %
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