Mumbai, March 6: Shares of real estate firms saw strong buying on Wednesday, settling with gains of as much as 12 per cent on hopes of interest rates cut by the Reserve Bank in its monetary policy review meeting this month.
Housing Development & Infrastructure surged 12.23 per cent to Rs 67.90, while Indiabulls Real Estate climbed 5.74 per cent to Rs 64.50 and Unitech rose by 3.23 per cent to Rs 27.15 on the BSE.
Among others, Oberoi Realty soared 5.78 per cent, while DLF was up 3.81 per cent.
Led by the gains in these stocks, the BSE realty index ended 4.52 per cent higher at 2,034.94 and was the top gainer among the 13 sectoral indices.
Marketmen said realty sector stock gained on expectations of rate cut by the RBI at the mid—quarter review of monetary policy on March 19.
According to a report by Motilal Oswal Financial Services “RBI would cut rates by 75 basis points in 2013 and would effect a 25 basis point cut in March 19 policy.”
In the broader market, the BSE benchmark Sensex ended at 19,252.61, up 109.44 points.
