Nifty Realty down 1% led by Oberoi Realty, Sunteck, Indiabulls RE

Shares of Oberoi Realty, which dropped 3%, were leading the index’s fall.

Apr 16, 2019 05:04 IST India Infoline News Service

The Nifty Realty index dropped 1% on Tuesday amid heavy selling in Oberoi Realty, Indiabulls Real Estate, Godrej Properties, and Sunteck Realty.

Shares of Oberoi Realty, which dropped 3%, were leading the index’s fall. Shares of Indiabulls Real Estate, Godrej Properties, and Sunteck Realty also contributed to the fall, declining 2% each. Shares of DLF, Brigade, and Phoenix also fell 1% each.

However, the fall was cushioned by heavy buying in Prestige Estate and Sobha, which gained 2% and 1%, respectively.

Shares of Prestige Estates Projects gained 2% on Tuesday after the company acquired balance stake in Babji Realtors Private Limited through a subsidiary company for Rs363.98cr.

Meanwhile, equity benchmark indices were trading in the green with the Sensex spurting 330 points at 39,236 levels. The Nifty also climbed to its record high level of 11,778, 88 points up.

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