Stock Market Closing: Nifty Realty Stocks End at 780 as RBI Lowers FY26 GDP Forecast and Shifts to 'Neutral'

Despite the Reserve Bank of India (RBI) on Wednesday reducing the repo rate by 25 basis points, the market could not find much relief. The Indian stock indices, Sensex and Nifty continued to slide as concerns over economic growth grew, especially after the RBI lowered its FY26 GDP forecast. The real estate sector also took a hit, as the RBI shifted its policy stance from 'accommodative' to 'neutral,' signaling a more cautious approach.

Stock Market Closing April 9: Nifty Reality Index Close At 780

The sharp selloff in realty stocks pulled the Nifty Realty index down by 1.90 percent or 15.10 points to close at 780.30. According to technical charts, the majority of real estate stocks are trading below the 20-Month Moving Average (20-MMA), a crucial long-term moving average, as a result of the steep decline.

Nifty Realty Stock Performance Today

As of 2:45 PM today, the majority of Nifty Realty stocks were among the top losers, with some significant drops in their prices. Stocks of Phoenix Mills are among the top losers, down by 4.81%, trading at Rs. 1,496.75. Anant Raj stocks has seen a decline of 4.23%, priced at Rs. 416.75, while Sobha is down by 3.59%, trading at Rs. 1,115. Oberoi Realty also took a hit, with its share price falling 2.27% to Rs. 1,493.45. Lodha declined by 1.82%, at Rs. 1,112.10.

Only two stocks are in the top gainers list of Nifty Realty index. Raymond is up by 1.12%, at Rs. 1,474.65, while Godrej Properties saw a modest gain of 0.28%, trading at Rs. 1,980.05.

The real estate stocks fell after the RBI highlighted concerns over global growth, particularly due to trade restrictions, which could also impact local economic performance. The RBI revised its FY26 GDP growth forecast down to 6.5% from 6.7%, signaling potential headwinds. The RBI governor also warned that global tariff uncertainties might put pressure on the rupee and lead to higher imported inflation, posing an upside risk to inflation, which could further affect real estate market sentiment and costs.

On RBI monetary policy day, realty stocks took a hit, with some falling by as much as 25%. While the stock market was not too thrilled, homebuyers got a bit of relief as the RBI cut the repo rate twice this year, making home loans cheaper. So, while real estate stocks struggled, those looking to buy property could potentially benefit from lower borrowing costs, connecting the health of the realty sector to the ease of securing home loans.

What is Repo Rate in Simple Terms?

The interest rate at which commercial banks receive loans from the RBI is known as the repo rate. Homebuyers and other borrowers typically benefit from lower repo rates.

Will RBI's Decision to Cut Repo Rate Benefit Home Buyers?

As per the Chairman of ANAROCK group, Anuj Puri, " RBI's decision to reduce the repo rates by 25 bps (to 6%) second time this year was expected to the backdrop of moderating inflation. Home loan borrowers may not see much meaningful or immediate interest rate relief."

"Banks have not transmitted earlier MPC rate cuts to borrowers because of higher funding costs, pressure on net interest margins, higher NPAs, and a cautious lending climate," Chairman Puri said.

Furthermore, he added, "If banks do pass on the benefits of the last two rates cuts, it will be a boost to homebuyers, particularly for those eyeing affordable housing. Many first-time homebuyers who had been hesitating to take the plunge may make their move if home loan rates reduce."