Nifty Realty index rallies over 2.5%; Lodha, Brigade lead the bull run

Prestige Estates Projects (up 3.21%), Sunteck Realty (up 2.87%), DLF (up 2.46%) and Oberoi Realty (up 2.04%) were also among the top gainers. Phoenix Mills was under pressure.

Oct 26, 2021 11:10 IST India Infoline News Service

Bull run Faster
Nifty Realty index rallied nearly 3% amid market flip-flop on Tuesday. Macrotech Developers Limited and Brigade Enterprises led the gains by surging over 7% and 6% respectively. Investors are keenly awaiting Q2 corporate earnings of major realtors. Also, optimism over improved sales due to festive demand boosts sentiments. 

DLF and Oberoi Realty are set to announce their Q2 earnings on October 28 and October 29. While Phoenix and Godrej Properties will present their financial performance on November 01 and November 02. 

Sensex and Nifty50 edged lower as trading turns bearish that led to scrapping of early gains. 

At around 11.50 am, BSE Sensex was trading at 60,888.86 down 78.19 points or 0.13% and Nifty50 realty at 18,132.35 up 6.95 points or 0.04%.

Nifty Realty was trading at 507.95 up 11.50 points or 2.32%, after touching a high of 509.95 and low of 496.15 during intraday trade.

Macrotech Developers (Lodha) led the charge at Rs1,039.05 per piece up 7.45% while Brigade Enterprises followed up closely at Rs458.15 per piece, up 5.84%. The sector is seeing increasing demand with attractive offers in festive season and ease in Covid-19 curbs.

Prestige Estates Projects (up 3.21%), Sunteck Realty (up 2.87%), DLF (up 2.46%) and Oberoi Realty (up 2.04%) were also among the top gainers.

Godrej Properties and Indiabulls Real Estate also gained 1.5% each while Sobha was also nearly 1.5% higher. Phoenix Mills Limited was the only realty stock listed on Nifty50, trading in the red. 

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