India's realty stocks hit session-high as RBI holds rates

DLF

05/04/2024 06:02

** India's Nifty Realty index  .NIFTYREAL  jumps 1.76% to
session-high after RBI keeps lending rates unchanged
    ** "Decision to maintain status quo will keep the ongoing
residential real estate sales momentum on course and unimpeded"
- Anuj Puri, Chairman of realty consultant ANAROCK
    ** 8 out of 10 stocks on the realty index are higher
    ** Top-weighted stock DLF  DLF.NS  up 1.7%
    ** Mahindra Lifespace  MALD.NS  top gainer, up 6.1% now vs
vs 4% before RBI decision
    ** Consultancy Knight Frank believes RBI will take a more
assertive stance to support growth, consider lowering rates at
some point in 2024, which would be positive for demand in sector
    ** Realty stocks last up 1.6%, have risen 20% this year vs
blue-chip Nifty 50  .NSEI  index's 3.6% rise

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))