Nifty Realty at record highs; Prestige and Sobha hit 52-week high; Hemsiphere, Indiabulls add to winnings

Prestige hits 52-week high at Rs422.75 per piece.

Sep 03, 2021 10:09 IST India Infoline News Service

Business growth, bull
The Nifty Realty index witnessed new record high on Friday's session tracking positive market cues. Prestige and Sobha stretched the winning streak by hitting 52-week high followed by other major stocks. Meanwhile, heavyweights Godrej Properties, Phoenix were under pressure. Realty index was doing well as construction and real estate sector has shown signs of recovery in demand.

According to ICRA report, residential sales more than doubled when compared to the 33.7 msf sales recorded in the corresponding quarter of the previous year, Q1FY21.

At around 10:45 AM, Nifty Realty was trading at 417.30 up 3.85 points or 0.93%, touching a 52-week high at 423.40. 

Meanwhile, BSE Sensex was trading at 57,923.02 up 70.48 points or 0.12% and Nifty50 at 17,249.35 up 15.20 points or 0.09%.

Prestige was trading bullish, skyrocketing 9% at Rs417.65 per piece, after hitting 52-week high at Rs422.75 per piece. Sobha led the record march by hitting 52-week high at 773.60 per piece, zooms over 4% in an upbeat market.

Hemisphere Properties and Indiabulls were also on upside by 2.18% and 2.03% each while Sunteck also gains near 2% at Rs383.35 per piece. DLF jumped 1% at Rs342.10 to support the index reaching new highs.

Oberoi Realty has been doing well today. Its stocks was trading at Rs758.65 per piece, up 0.32% to drive the sector.

On the flip side, Phoenix emerges as top laggard tumbling over 2% at Rs880.45 per piece. Brigade plunged 1.5% while Godrej Properties traded on a muted level.

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