Realty index sheds 2% on rate hike

Most of the real estate stocks like DLF, Unitech, Indiabulls Real Estate, HDIL and Orbit Corporation are trading 2% to 3% lower after the Reserve Bank of India (RBI) hiked the short-term rates at which it borrows and lends funds to banks by 25 basis points each on Friday evening, adopting a tight money policy.
 
Among sectoral indices, the BSE Realty index is the biggest loser, trading around 2% lower at 3,279 levels as compared to around 1% decline in the Senesx.
 
The recent move by the apex bank will see home, auto and commercial loans are likely to become more expensive.