Market Now: Nifty Realty volatile as RBI announces 25 bps rate cut

NEW DELHI: Nifty Realty index swung between gains and losses in Wednesday's trade post Reserve Bank's policy outcome where it cut interest rates by 25 basis points as expected.

After hitting an intraday high of 285, just 4 points below its all-time high of 289, it slipped to Rs 282, down 0.14 per cent.

Shares of The Phoenix Mills (up 2.11 per cent), Indiabulls Real Estate (up 1.63 per cent), Housing Development and Infrastructure (up 0.82 per cent), Prestige Estates Projects (up 0.53 per cent), and Delta Corp (up 0.50 per cent) were still trading in green in the index.

However, Unitech (down 2.92 per cent), Godrej Properties (down 2.21 per cent), Oberoi Realty (down 1.93 per cent) and DLF (down 0.10 per cent) were trading in red.

The Nifty Realty index was trading 0.12 per cent lower at 282.60 around 1.20 pm (IST).

While the beginning of Wednesday's session saw a record high for both Nifty and Sensex, the afternoon session was marred by gloom as all sectoral indices were trading in the negative zone on NSE.

Tata Motors, Tech Mahindra, Dr. Reddy's Laboratories, Mahindra & Mahindra, Oil & Natural Gas Corporation and Infosys were at the bottom in NIfty50 pack.

However, NTPC, Lupin, Hero MotoCorp and Reliance Industries stood firm.

Benchmark Nifty50 index was 23 points down at 10,091, while the 30-share Sensex was 43 points down at 32,532 around 1.20 pm (IST).

In the Nifty50 pack, 17 stocks were trading in green, while 33 stocks were in red.

On BSE, 1,104 stocks were advancing whereas 1,379 stocks were lagging.

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