Mumbai: Realty stocks attracted strong buying interest in an overall bullish broader market Moday, surging up to 24 percent, a day ahead of the RBI's monetary policy.
Shares of Housing Development and Infrastructure Ltd (HDIL) skyrocketed 24.25 percent to Rs 128.85 on the BSE.
Among others, Unitech jumped 8 percent, Indiabulls Real Estate surged 7.25 percent and Anant Raj Ltd climbed 6.24 percent.
Similarly, shares of DLF rose by 4.82 percent, Godrej Properties (4.76 percent) and Phoenix Mills (4.48 percent).
Following the sharp rally in these stocks, the BSE realty index ended 6.43 percent 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.
