Real estate stocks gained on Wednesday as RBI in its immediate move slashed 25 basis points from 7.75% to 7.5% and kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).

Real estate stocks such as Indiabulls Real Estate gained the most with a rise of 4.43%, followed by DLF (3.17%), Housing Development and Infrastructure (HDIL) (3.03%), Unitech (2.75%), D B Realty (1.37%) Godrej Properties (0.84%) and Sunteck Realty (0.78%).

The RBI continue to provide liquidity under overnight repos at 0.25% of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75% of NDTL of the banking system through auctions. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5%, and the marginal standing facility (MSF) rate and the Bank Rate to 8.5% with immediate effect.