Realty Shares Retreat As RBI Hikes Repo Rate

Orbit Semiconductor (down 1.51%), Housing Development and Infrastructure (HDIL) (down 0.53%), India Bulls Real Estate (down 1.23%), Unitech (down 1.79%), Sobha Developers (down 1.63%), DLF (down 0.23%) and Godrej Properties (down 0.14%), slipped in volatile trading.

Property stocks fell on worries of higher interest rates could affect demand for residential and commercial properties. Purchases of residential and commercial properties, largely driven by funding

The RBI as cash reserve ratio (CRR), the share of bank deposits, which must take a central bank, unchanged at 6%.

This is the twelfth time since March 2010 that the RBI has raised its interest rates. The rate hike comes in order to control inflation, which is at a high level.

Today’s rate hike was expected lines. Eleven of the twelve economists who responded to the capital market had been waiting for 25 points (bps) increase in the repo rate, the key short-term interest of the political middle of his fourth RBI of the policy review today, 16 September 2011.


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