Realty stocks shine; HDIL surges 24%

MUMBAI: Realty stocks attracted strong buying interest in an overall bullish broader market today, surging up to 24 per cent, a day ahead of the RBI's monetary policy.

Shares of Housing Development and Infrastructure Ltd ( HDIL) skyrocketed 24.25 per cent to Rs 128.85 on the BSE.

Among others, Unitech jumped 8 per cent, Indiabulls Real Estate surged 7.25 per cent and Anant Raj Ltd climbed 6.24 per cent.

Similarly, shares of DLF rose by 4.82 per cent, Godrej Properties (4.76 per cent) and Phoenix Mills (4.48 per cent).

Following the sharp rally in these stocks, the BSE realty index ended 6.43 per cent higher at 1,800.22.

"As RBI is likely to hold rates, there is scope to surprise the market through CRR/SLR and assessment of future outlook," said, Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services.

Meanwhile, in the broader market the benchmark Sensex ended 244.32 points higher at 28,504.46.

"RBI policy tomorrow will decide the near term direction of markets," said Aamir Mir, Senior Analyst, HBJ Capital.