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People believe that things are improving, and as the prices move up there is a FOMO in the form of analysis by various analysts who did nothing till now, but suddenly now they are upgrading the entire PSU banking space.

The property sector in India is seeing a multi-year pent-up demand and is more dependent on the pricing sentiment instead of mortgage rates. As a result, the 225-basis-point hike in repo rate by the Reserve Bank of India since May this year hasn’t affected the housing demand.

The benchmark 10-year yield ended at 7.2890% after ending at 7.2693% on Wednesday. It has risen by eight basis points in last five sessions through Thursday.

In its board meeting on Wednesday, the company announced a special interim dividend of Rs 100 per equity share i.e. 1000% of the face value of Rs 10 each fully paid up for the financial year 2023.

The Nifty Realty index was trading 0.07 per cent up at 458.2.

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A sweeping victory for the Bharatiya Janata Party in Gujarat assembly elections did little to lift the mood in Dalal Street, as the hawkish view of RBI on inflation Wednesday played on the minds of investors

The BJP was all set for a landslide victory in Gujarat where the party has not lost state assembly elections since 1995. However, the BJP looked set to lose control of Himachal Pradesh with outgoing Chief Minister Jairam Thakur conceding defeat.

State-run banks were seen bidding for dollars on behalf of oil marketing companies through the session as crude slumped, three foreign exchange traders confirmed.