HDIL leads realty scrips’ fall after promoter sells 1% stake
Media reports said the government is planning to include the bulk price of diesel fuel in its calculation of wholesale price index (WPI) as early as February that could put an upward pressure on the headline inflation. However, the timing of the inclusion of bulk diesel prices in WPI is still uncertain as it depended how quickly oil companies made their new price data available. WPI data for January will be released on February 14. Diesel has a 4.67% weighting in the index.
The Reserve Bank of India will meet on January 29 to decide on policy rates. Market is expecting RBI to cut key policy rates by 25 basis points (bps).
The BSE Realty index was the biggest loser on Wednesday. It closed the day at 2182.67, down 52.34 points or 2.34%. Most other interest rate sensitive indices also witnessed selling pressure on concerns surrounding cut in interest rates next week. BSE Consumer Durables and BSE Auto indices fell nearly 1%. The fall in index heavyweights led to fall in real estate stocks on Wednesday. DLF and Unitech lost 0.7% and 1.6%, respectively, whereas HDIL
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