Nifty Realty advances 2% as Phoenix Mills, DLF hit fresh record highs; Except Hemisphere, all stocks rise

Low-interest rates and hopes of a faster economic recovery in the post-pandemic world have boosted interest in realty stocks.

Sep 27, 2021 10:09 IST India Infoline News Service

The Nifty Realty stocks continued to record high levels on broad-based buying session on Monday. The winning streak is stretched by heavyweights Phoenix and DLF hitting 52-week high amid strong positive market cues. The Nifty Realty has surged by nearly 2% today as the real estate sector has seen interest from traders and investors throughout the market season this year.

At around 10:35 AM, the Nifty Realty was trading at 510.05 up 8.75 points or 1.75%. The index has touched a new all-time high at 514.85.

Phoenix Mills was the top bull zoomed by 6% after hitting 52-week high at Rs1030 per piece followed by DLF surging 2.40%, also hitting new high at Rs426.15 per piece to lead the gains.

Prestige advanced 2.35% while Sunteck also on a upside, higher by 1%. Oberoi Realty, Brigade and Indiabulls Real Estate jumped 1% each to lift the index with Sobha and Godrej Properties also traded in the green.

On the other hand, Hemisphere Properties was the only loser dipped by 0.28% at Rs142.25 per piece.

Further, low-interest rates and hopes of a faster economic recovery in the post-pandemic world have boosted interest in realty stocks. Besides, the rebate on stamp duty in some states has also supported realty players.

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