Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Market Now: Realty stocks up ahead of RBI policy outcome

Sobha was the only component of the Nifty Realty index that was trading in the red.

ETMarkets.com|
Updated: Oct 04, 2017, 10.41 AM IST
0Comments
A firm trend in most markets in Asia following a record close on Wall Street also boosted sentiment here.
A firm trend in most markets in Asia following a record close on Wall Street also boosted sentiment here.
NEW DELHI: Realty stocks such as Godrej Properties (up 2.52 per cent), Prestige Estates Projects (up 1.72 per cent), Phoenix Mills (up 1.18 per cent), Delta Corp (up 0.84 per cent), Unitech (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.

For trending stocks and buzzing news, track this LIVE BLOG from Dalal Street

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, Sun Pharma, Aurobindo Pharma, Reliance Industries, Dr Reddy's and ITC were the top gainers in the Nifty index.

On the other hand, Bharti Airtel, Coal India, Tata Steel, Tata Consultancy Services, Zee Entertainment and Eicher Motors 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.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service