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Stock market update: Realty stocks mixed ahead of RBI's policy outcome

The Nifty Realty index was trading 0.20 per cent down at 272 around 10:10 am.

ETMarkets.com|
Updated: Aug 01, 2018, 10.27 AM IST
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Stock market update: Realty stocks mixed ahead of RBI's policy meet outcome
Among the 50 stocks in the Nifty index, 29 were trading in the green, while 21 were in the red.
NEW DELHI: Rate-sensitive realty stocks were trading mixed in morning trade on Wednesday, ahead of the RBI's monetary policy meet outcome.

The Reserve Bank of India is likely to raise interest rates while retaining a neutral policy stance as it aims to strike a balance between rising inflationary pressures and still recovering growth, Reuters reported.

The Nifty Realty index was trading 0.20 per cent down at 272 around 10:10 am.

Oberoi Realty (down 1.93 per cent), DLF (down 1.48 per cent), Godrej Properties (down 0.31 per cent) and Sobha (down 0.19 per cent) were the losers in the realty index.

However, shares of Housing Development & Infrastructure (HDIL) (up 2.90 per cent) and Phoenix Mills (up 2.90 per cent) jumped up to 3 per cent.

Brigade Enterprises (up 1.45 per cent), Prestige Estates Projects (up 1.26 per cent) and Indiabulls Real Estate (up 0.23 per cent) too were in the green.

Equity market was in the positive territory, awaiting the outcome of the RBI's monetary policy committee meeting.

Asian stocks were mixed after reports that Trump administration may increase the tariff on $200 billion of imported Chinese goods from 10 per cent to 25 per cent.

Benchmark NSE Nifty50 index was up 28 points at 11, 385, while the BSE Sensex was up 69 points at 37,676.

Among the 50 stocks in the Nifty index, 29 were trading in the green, while 21 were in the red.

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