Nifty Realty extends gain amid bullish markets; Brigade, Prestige, Godrej Properties led winning steak

NGT orders demolition of Godrej Properties and Wonder Projects Development's project and levies penalty of Rs31cr.

Aug 03, 2021 11:08 IST India Infoline News Service

The Nifty Realty stocks were in demand in positive session on Tuesday's trade. Realty index was doing well as heavy buying witnessed in major stocks that led benchmarks Sensex and Nifty 50 at fresh historic highs. The realty index has gained over 21% over last month.

Brigade led the charts by advancing 3.5% on the index. Prestige EstatesGodrej PropertiesDLF and Sunteck lead the bull run by hitting 52-week high during intraday trade on Tuesday. Oberoi Realty and Indiabulls were the only laggards in the sector.

On Tuesday, Indian benchmark indices clocked new record highs despite mixed global sentiments. On the sectoral front, metal index was the top laggards down 1%, while other indices are trading in the green. 

At around 11:10 AM, Nifty Realty was trading higher at 420.60 by 2.85 points or 0.68%, after touching a high of 423.15 and low of 418.19 during intraday trade.

Brigade led the pack being top bull at Rs345.85 per piece, surging over 3.4%. Prestige climbs 2.55% at Rs373.70 per piece. Prestige hits new 52-week high at Rs375.85 per piece. Heavyweight Godrej Properties also hit record high at Rs1697.85, surging around 1.5%. Last week, NGT orders demolition of Godrej Properties and Wonder Projects Development's project and levies penalty of Rs31cr.

Sunteck spurts nearly 2% to lead the gains. Heavyweights Sobha, Phoenix, DLF and Hemisphere Properties led the charge and traded marginally higher to lift the sectorial performance. 

Meanwhile, Oberoi Realty and Indiabulls Real Estate were under pressure being the only losers of the sector. Indiabulls tumbled nearly 2% and Oberoi Realty was trading 1.31% down.

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