Real Estate stocks fall after RBI MPC keeps repo rate unchanged; Analysts call it good news for realty sector

Real Estate stocks fall after RBI MPC keeps repo rate unchanged; Analysts call it good news for realty sector

Real Estate stocks fell today after the RBI MPC decided to keep the repo rate unchanged. The Nifty Realty fell 3 points or 0.59% to 503.30. Macrotech Developers, Brigade Enterprises, Godrej Properties, DLF and Oberoi Realty stocks fell today; while Indiabulls Real Estate, Prestige Estates Projects, Mahindra Lifespace Developers, Sobha and The Phoenix Mills shares gained.

“We appreciate the decision of the RBI to maintain the REPO rate unchanged for the second consecutive time. Although inflation still remains higher than the tolerance level, it has decreased over the last few months, allowing the RBI to maintain its stance. We believe that this status quo will facilitate positive decision-making for home buyers,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.

RBI rate pause announcement, a good news for real estate sector

“As expected, RBI has decided to keep the repo rates unchanged for second time in a row. This is a good news for the real estate sector and the outlook for homebuyers who are looing to buy a property via a home loan in near future remains favourable. This announcement can provide a booster in maintaining the momentum in housing sector which has so far been firing on all cylinders,” said Subhash Goel, MD, Goel Ganga Development.

Meanwhile, Banking and NBFC stocks rose today; Bank Nifty jumped 130.95 points or 0.30% to 44,406.25 and Nifty Financial Services (Fin Nifty) gained 47.45 points or 0.24% to 19,585.55. Nifty PSU Bank rose 24.85 points or 0.61% to 4,121.75. On the other hand, Nifty Auto index traded with mild cuts, down 0.1%. Eicher Motors, TVS Motors and M&M traded in the red, with losses up to 1.3%, dragging the index.