NEW DELHI: Most realty stocks were trading with gains after the Reserve Bank of India hiked repo rate post its second bimonthly policy meet of the current fiscal.
The six-member monetary policy committee of RBI headed by Governor Urjit Patel on Wednesday bit the bullet and hiked the repo – the short-term lending rate – by 25 basis points to 6.25 per cent.
The MPC kept its policy stance to 'neutral'.
The BSE Realty index was trading 1.41 per cent up at 2,147 around 02:55 pm on Wednesday.
Indiabulls Real Estate (up 1.74 per cent), Unitech (up 1.72 per cent), Sobha (up 0.61 per cent), Omaxe (up 0.52 per cent) and DLF (up 0.48 per cent) were also pocketing decent gains.
Benchmark BSE Sensex was up 236 points at 35,139, while the NSE Nifty50 index was up 79 points at 10,672.
Among the 50 stocks in Nifty index, 39 were trading in the green, while 11 were in the red.
In the Sensex index, 29 stocks were up while 2 were down.