Godrej Properties, DLF to Oberoi Realty: Realty stocks rise after RBI MPC meeting, Nifty Realty jumps over 3%
Stocks in the real estate sector experienced gains after the RBI’s Monetary Policy Committee meeting, where the market saw significant announcements regarding rate cuts and a reduction in the Cash Reserve Ratio (CRR) by RBI Governor Sanjay Malhotra. Shares of Godrej Properties, DLF, Oberoi Realty, Prestige Estates Projects, Sobha, jumped 3% to 6%.
Nifty Realty experienced a surge of over 3%, with all stocks in the realty indices showing positive movement, except for Raymond, which was the only stock trading in the red.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Nifty Realty is witnessing a strong tick post the RBI policy gaining more than 2.5%, broad based buying is seen, and further up move is expected in near term. Traders can maintain positive bias using minor dips to buy, DLF, Lodha, and Godrej Properties are the top picks from this space.
