Nifty Realty index gains 3% led by Oberoi Realty, Godrej Properties, Sunteck

Shares of Oberoi Realty and Godrej Properties, which spurted 5% and 4%, respectively, were leading the index’s gain.

Jan 24, 2019 05:01 IST India Infoline News Service

IT Stocks Up
The Nifty Realty index was trading 3% higher on Thursday amid heavy buying in Oberoi Realty, Godrej Properties, Sunteck Realty, Phoenix Mills, and DLF.

Shares of Oberoi Realty and Godrej Properties, which spurted 5% and 4%, respectively, were leading the index’s gain. Shares of Phoenix Mills, Suntech Realty, DLF, Brigade, and Indiabulls Real Estate also contributed to the gain, rising 2% each.

Meanwhile, investors are focusing on Interim Budget 2019. The industry is expecting changes in GST rates which may boost demand for housing.

Besides, equity benchmark indices were trading marginally higher on Thursday with the Sensex trading 97 points higher at 36,205 levels. Nifty also gained 21 points to trade at 10,852 levels, struggling to hold its key level of 10,850.

Further, on the currency front, the Indian rupee opened 7 paise higher at 71.26 against the dollar compared to its previous close of 71.33/$. On Wednesday, the domestic unit appreciated 11 paise. The gain is on the back of selling in the American currency by banks and exporters amid weakness in the dollar against its major peers.

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