The Nifty Realty index gained over 1% in an otherwise weak market in Wednesday’s session.
According to the Shishir Baijal, Chairman and Managing Director of Knight Frank said in the media report that, “the sector’s optimism is far pronounced for the office sector, which has been growing strength to strength in the past few years, reaching historic highs in 2019. In the next 8 – 10 quarters, if the office, other commercial including retail, warehouse and logistics and the residential sector continue to show positive growth, despite the pace of growth of Indian economy, we can expect the real estate sector to show the upward curve of revival.”
Shares of Prestige
jumped 5% on the realty index, followed by Indiabulls Real Estate
and Oberoi Realty, which are up in the range of 3-4%, Brigade, Sobha and Mahindra Life were up 1% each.
On the flip side, Sunteck
and Phoenix were down in the range of 1-2%, respectively.
Equity benchmark indices extended their losses in the afternoon session, with the Sensex at 41,714, down 238 points and the Nifty down 65 points at 12,293.