Loveena Kansal, EVP - Business Head, MegaCorp

The RBI's decision reflects a balanced and measured approach towards supporting growth while remaining vigilant on inflation. Policy stability at this juncture provides greater visibility for consumers, businesses, and lenders, enabling more confident financial and investment decisions.

As credit demand remains resilient across retail and MSME segments, a stable rate environment, coupled with continued focus on liquidity and financial sector development, will support sustainable credit growth and broader financial inclusion. The decision reinforces confidence in India's economic fundamentals and growth trajectory.

Dr Mohit Ramsinghani - President & Business Head at VTP Realty

"The RBI's status quo on the repo rate provides much-needed policy predictability at a time when the economy continues to demonstrate resilience. For the real estate sector, stability in borrowing costs supports homebuyer confidence and sustains demand momentum across housing segments. Equally important is the continued focus on maintaining adequate liquidity, which is critical for healthy credit flow, efficient project execution, and long-term sectoral growth. With infrastructure-led development and urbanization continuing to drive demand, a stable financial environment will further strengthen real estate's contribution to economic expansion."

Ashish Sharma, AVP Operations, Brahma Group, says, "The RBI's decision to maintain the repo rate at 5.25% reflects a balanced and prudent approach amid evolving global and domestic economic conditions. For the real estate sector, policy stability is a positive outcome as it helps sustain homebuyer confidence and preserves the affordability gains achieved through the rate-easing cycle over the past year. Stable interest rates provide greater visibility for both developers and consumers, supporting long-term investment decisions. With housing demand remaining resilient across key markets, the continuation of a neutral stance is expected to reinforce market momentum and contribute to the sector's sustained growth trajectory."

Pratik Tibrewala (Senior Vice President & Head Corporate Finance at M3M India), said "The MPC's decision to keep the repo rate unchanged at 5.25% is indicative of a measured approach which will impact the real estate sector positively. For homebuyers, the stability in repo rate will translate to manageable home loan costs and conviction in buying decisions. For developers, the unchanged repo rate will reinforce disciplined execution of ongoing and pipeline projects. Investors are also set to benefit from a stable environment that consolidates real estate's positioning as a dependable, non volatile , long term asset. At a broader level, the stability in repo rate will act to keep the momentum of India's housing demand cycle intact, providing  the sector with the policy continuity it needs to sustain its sustain its ongoing demand-led expansion."

Preeti Rai - President sales and Strategy, Origen Realty, said"The RBI's decision to keep the repo rate unchanged at 5.25% provides much-needed stability to the real estate sector, particularly amid an evolving global economic landscape. The move is expected to support buyer confidence by ensuring greater predictability in home loan interest rates, thereby sustaining end-user demand. A stable interest rate environment also enables developers to plan investments and project execution with greater certainty. As the housing market continues to witness healthy demand, this policy continuity will help maintain positive market sentiment and support the sector's steady growth trajectory."

Aman Sarin, Director & CEO, Anant Raj Limited

This is a welcome move by the RBI, especially given the ongoing crisis in West Asia, which continues to put pressure on input costs across sectors. In such an environment, stability in interest rates is important for maintaining overall confidence in the market. A steady rate scenario helps in better financial planning and provides clarity for both businesses and homebuyers. When borrowing costs are stable, it becomes easier to plan investments, manage cash flows, and stay focused on execution.

At the same time, current home loan rates are still at reasonable levels, which supports buying decisions. For many homebuyers, affordability today is not just about lower rates, but about certainty in monthly payments. That confidence plays a key role in converting intent into actual purchases. Overall, this decision creates a supportive environment where demand can continue to build gradually, while allowing the sector to navigate external challenges with greater resilience.

Yashank Wason, Managing Director, Royal Green Realty

RBI MPC's decision to keep the repo rate unchanged at 5.25% is a significant positive note for the real estate industry. The unchanged repo rate will significantly benefit both buyers and developers. For homebuyers, unchanged interest rates mean manageable EMIs which will improve the rate of potential purchasers. For developers this unchanged stance will accelerate the project launches and completion timeline.

Rishabh Periwal, Senior Vice President, Pioneer Urban Land & Infrastructure Ltd., says, "The RBI Monetary Policy Committee's decision to maintain the repo rate at 5.25% provides much-needed stability to the real estate sector.  A steady rate environment ensures predictability in home loan costs, encouraging buyer confidence and sustaining housing demand. For developers, stable funding conditions and improved liquidity visibility enable better planning of project launches and execution timelines. Overall, this decision reinforces a growth-oriented environment and strengthens confidence across key real estate markets."

Pushpender Singh - Managing Director, JMS Group said, "The decision to keep the repo rate unchanged brings much-needed stability and predictability for the real estate sector. For homebuyers, it sustains affordability and supports sentiment in an already improving market. For developers, it allows better financial planning and project execution. However, timely liquidity support and faster approvals remain critical to maintain momentum. A balanced policy approach like this helps build long-term confidence and keeps the sector aligned with India's growth aspirations."

Sudeep Bhatt, Director Strategy, Whiteland Corporation says, "The RBI MPC has decided to keep the repo rate unchanged at 5.25%. The stance is significant for the real estate sector. It means stable home loans which directly boost housing demand, while improving liquidity for developers. The sector stands to benefit from the re - established buyer sentiment and a growth in investment appetite with EMIs and borrowing cost stabilising."

Sudeep Bhatt, Director Strategy, Whiteland Corporation says, "The RBI MPC has decided to keep the repo rate unchanged at 5.25%. The stance is significant for the real estate sector. It means stable home loans which directly boost housing demand, while improving liquidity for developers. The sector stands to benefit from the re - established buyer sentiment and a growth in investment appetite with EMIs and borrowing cost stabilising."

Abhay Mishra, CEO & President, Jindal Realty says, The decision to hold the repo rate steady offers a sense of continuity at a crucial time for the real estate sector. It reassures homebuyers by keeping borrowing costs stable and helps sustain demand momentum. For developers, it provides clarity for planning and execution. Going ahead, policy support and improved liquidity will be key to unlocking the sector's full potential and ensuring steady, inclusive growth across markets.

Rishabh Periwal, Senior Vice President, Pioneer Urban Land & Infrastructure Ltd ., says,

"The RBI Monetary Policy Committee's decision to maintain the repo rate at 5.25% provides much-needed stability to the real estate sector.  A steady rate environment ensures predictability in home loan costs, encouraging buyer confidence and sustaining housing demand. For developers, stable funding conditions and improved liquidity visibility enable better planning of project launches and execution timelines. Overall, this decision reinforces a growth-oriented environment and strengthens confidence across key real estate markets."

Jitender Yadav, Director, Roots Developers, "The RBI's decision to maintain the repo rate at 5.25% is a catalyst for renewed enthusiasm in the real estate sector. Stability in borrowing costs will make home loans more accessible which will increase demand of home buyers. This will also help developers to speed up project launches and improve completion timelines, strengthening an environment of growth and confidence across key housing markets. We look forward to a pragmatic environment for the real estate industry"

Pushpender Singh - Managing Director, JMS Group "The decision to keep the repo rate unchanged brings much-needed stability and predictability for the real estate sector. For homebuyers, it sustains affordability and supports sentiment in an already improving market. For developers, it allows better financial planning and project execution. However, timely liquidity support and faster approvals remain critical to maintain momentum. A balanced policy approach like this helps build long-term confidence and keeps the sector aligned with India's growth aspirations."

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 ended Thursday on a subdued note, closing nearly flat at 23,416.55, up just 10.95 points (0.05%), as investors largely stayed on the sidelines ahead of the RBI's monetary policy announcement. While the index managed to defend the crucial 23,250-23,300 support zone, the rebound from intraday lows lacked strong follow-through buying. Strength in auto, capital goods and consumer durable stocks provided support, though weakness in IT and metal counters restricted upside momentum.

Global cues remained largely constructive. US markets witnessed a strong rally, with the Dow Jones surging 1.73% to a fresh record high as investors rotated into financials and healthcare stocks, while the S&P 500 gained 0.41%. The Nasdaq ended marginally lower amid profit-taking in select technology and semiconductor names. Asian markets traded mixed in early deals, reflecting a cautious stance ahead of key macro developments.

Meanwhile, Brent crude has eased from recent highs amid hopes of easing geopolitical tensions, offering some comfort on the inflation and current account front for India. GIFT Nifty is indicating a largely flat start, with market participants expected to closely monitor the RBI policy outcome and commentary for directional cues.

Technically, Nifty continues to trade within a well-defined range, and the near-term trend is likely to remain stock-specific until a decisive breakout emerges. A sustained move above 23,550 could trigger fresh buying interest and pave the way towards 23,700-23,800 levels. On the downside, holding above 23,300 remains crucial; a breach of this support may invite profit booking and drag the index towards the 23,150-23,100 zone. The RBI policy outcome and management commentary will be key catalysts in determining the market's next directional move.

Riya Sehgal, Research Analyst, Delta Exchange

The overall crypto market remains under pressure as risk appetite weakens, ETF demand slows, and volatility expands across major assets. BTC has slipped below key short-term levels, ETF outflows have continued for 13 straight trading days, and professional investors cut spot Bitcoin ETF exposure by nearly 52,000 BTC in Q1.

For BTC, the $62,000-$61,200 zone is now critical. If this range breaks, a retest of $60,000 becomes likely. RSI near 25 shows oversold conditions, so a relief bounce is possible. But recovery strength will only improve if BTC reclaims $64,000 first, followed by $65,500. With volatility elevated, bounce attempts can remain unstable unless BTC breaks above resistance with conviction.

ETH is also weak. It is trading around $1,730 and remains below all major 4H EMAs. Immediate support is near $1,720-$1,700. A breakdown below this zone can open downside toward $1,650-$1,600. On the upside, ETH needs to reclaim $1,820-$1,840 for early recovery signs.

Also, AI-led equities are showing stronger relative market attention and momentum, while Bitcoin ETF outflows suggest weaker BTC demand. Until ETF demand stabilizes and key resistance levels are reclaimed, selling pressure may continue.

The Thesis

With RBI's policy decision at 10am IST the anchor and Brent easing to $97 on Iran ceasefire hopes, today is a barbell - rate-sensitive financials primed for a hold against export IT bid by rupee weakness. Overnight US flow rotated OUT of chips INTO Dow banks and retail, aligning squarely with our blend; India VIX collapsed 3.13% to 15.77, signalling the tape is pricing through geopolitical noise, not into it.

Where We're Concentrated

Concentration sits in three macro-fit places: NBFC and PSU infra-finance riding the rate-pause trade, export IT turning rupee weakness into a tailwind rather than a drag, and auto cyclicals with disciplined volume mix. The thesis breaks if RBI hikes - re-accelerating FII outflows - or if Iran talks stall and Brent re-tests $100, snapping the VIX easing.

Conviction Picks

Highest Conviction

Sammaan Capital

NBFC bid into RBI 10am - consensus hold at 5.25% preserves carry trade; credit cycle still extending despite crude noise.

Tata Motors Passenger Vehicles

EV mix accretive even as Brent near $97 squeezes ICE demand; sector rotation favours disciplined volume names this open.

HCL Technologies

IT major absorbs overnight Nasdaq tech rotation; rupee weakness from Iran risk premium is a tailwind for revenue conversion.

LTIMindtree

Mid-cap IT proxy - same FX tailwind; deal pipeline cushions against the US chip-led AI derating priced in overnight.

NBCC

PSU construction proxy - government capex tempo unbroken; infra spend insulated from Iran-war crude via budget allocation.

One Thing to Watch

RBI MPC at 10am IST. A hold at 5.25% per consensus reignites financial flows; any hike - even 25 bps - triggers cascading FII selling into a Brent-fragile open and a tape already four sessions stretched.

WazirX Market Desk

"Bitcoin's recent pullback to $62,351 appears to be driven more by institutional portfolio rebalancing. After a strong rally, it's natural for large investors to book profits and rotate capital into sectors they believe offer the next growth opportunity. We've seen this pattern play out across multiple market cycles, most recently in February this year.

At the same time, global events are reshaping where capital flows. Rising geopolitical tensions and the rapid expansion of AI infrastructure are putting energy security back in focus. Nuclear energy, once viewed as a niche sector, is increasingly becoming critical to powering the next generation of technology. Markets are ultimately a reflection of capital seeking efficiency, and right now we're witnessing that shift in real time. For long-term retail investors, these rotations are often part of the journey. However, the coming weeks might continue to be volatile for the crypto market, especially with major IPOs of SpaceX, and other AI companies coming up."

The Indian rupee has been one of the worst performers this year. Its value has eroded by over 2.3 per cent since April. Read full report here

At the close on Thursday, the total market cap of all 30 BSE Sensex companies stood at Rs 4,62,03,291.