S&P BSE Realty Index rallies after RBI cut repo rate

S&P BSE Realty Index rose after the central bank in a surprise move cut interest rates today, January 15, 2015.

RBI reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8% to 7.75% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 6.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 8.75% with immediate effect. It kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).

On the BSE at 11.15 am, HDIL up 12.22%, IB Real Estate up 8.67%, Unitech up 8.01%, DLF up 7.24%, Anant Raj up 6.18%, Godrej Prop up 4.58%, Sobha Developers up 3.20%, Oberoi Realty up 3.07%, Peninsula Land up 2.37%, Prestige Est up 2.09%.

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