Nifty Realty extends winning streak amid bullish markets; Sunteck Realty hits 52-week high

Sunteck Realty plans to develop 10 million sqft residential project in Kalyan near Mumbai.

Sep 17, 2021 10:09 IST India Infoline News Service

On Friday trading session, the Nifty Realty stretched winning streak to lead the benchmarks Sensex and Nifty 50 at fresh historic highs. Realty stocks were in demand as heavy buying witnessed in major stocks while the real estate sector has seen interest from traders and investors throughout the market session.

Recently, FIIs have invested Rs5344cr in the cash market during the last three days where Nifty has now appreciated by around 10000 points from the March 2020 lows. This is somehow impact the sentiments of the investors during festive season.

In the early deals, BSE Sensex hit a new 52-week high of 59,650.33, while Nifty 50 clocked a new all-time high of 17,772.95.

At around 10:35 AM, Nifty Realty was trading at 424.70 up 1.20 points or 0.28% touching a high of 429.40 and low of 423.55 during intraday trade on Friday.

On the index, Sunteck Realty led the charge by surging 2%, after hitting 52-week high at Rs447.80 per piece followed by DLF gaining 1% at 345.20 per piece. Sunteck Realty stocks continues rally as the company plans to develop 10 million sqft residential project in Kalyan near Mumbai.

Heavyweights Oberoi Realty and Godrej Properties traded 0.5% higher each to lead the gains while Prestige and Indiabulls Real Estate added marginal gains to support the bull run in an upbeat session.

However, Phoenix Mills was the top laggard shedding nearly 1% at Rs859.85 per piece while Brigade, Hemisphere and Sobha were also trading marginally lower struggles to lead the gains.

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