DLF, Prestige Estates Projects, Godrej Properties Drag Nifty Realty Lower After RBI MPC Decision
The market-cap of realty stocks on NSE declined Rs 11,285 crore to Rs 6.08 lakh crore as of 11:28 a.m.
DLF Ltd., Prestige Estates Projects Ltd., and Godrej Properties Ltd shares weighed on the NSE Nifty Realty index. The index extended losses and became the worst performer after the Reserve Bank of India kept the benchmark repo rate unchanged at 5.5%, in line with expectations.
"With robust economic growth and headline inflation under control, the RBI’s neutral stance reflects its intent to closely monitor evolving conditions. This steady monetary policy is expected to bring stability to the real estate sector and encourage fence-sitters to make investment decisions," said Shrinivas Rao, chief executive officer, Vestian.
The Indian central bank kept the stance neutral and the growth projection unchanged. Meanwhile, RBI lowered the inflation projection for financial year 2026 to 3.10% from the earlier 3.70%.
The NSE Nifty Realty index declined 2.65% to 885.35. The index was trading 2.17% down at 887.05 as of 11:19 a.m., as compared to a 0.39% decline in the NSE Nifty 50 index.
The index has declined 11.24% in 12 months. The relative strength index was at 31.15.
In terms of share price movement, Sunteck Realty Ltd. was the biggest loser. It declined 3.15% to Rs 370.3 apiece. It was trading 3.03% down at Rs 370.75 apiece as of 11:24 a.m.
DLF Ltd., The Phoenix Mills Ltd., and Prestige Estates Projects Ltd followed Sunteck Realty. DLF and The Phoenix Mills declined as much as 3.31% and 2.78%, respectively. The share prices were trading 2.68% and 2.32% down, respectively, as of 11:26 a.m.
Meanwhile, Oberoi Realty Ltd and Sobha Ltd declined the least. The share prices were trading 0.73% and 1% down as of 11:27 a.m.
The market cap of realty stocks on NSE declined Rs 11,285 crore to Rs 6.08 lakh crore as of 11:28 a.m.
