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Nifty Realty index sheds 2%; Lodha, Sobha, Indiabulls Real Estate under pressure; Sunteck Realty top gainer

Macrotech Developers (Lodha) emerged as top bear tumbling by 4% at Rs1,196.70 per piece.

December 27, 2021 10:30 IST | India Infoline News Service
Sensex Down Graph
Nifty Realty stocks joined the markets bears on the last week of calendar year 2021 due to bearish markets amid weak global cues. During early trading hours, Nifty 50 was struggling around the 17,000 levels. Sensex was also around 57,000-mark led by massive selling pressure across sectoral indices.

Rising concerns over the spread of Omicron in the country dented the sentiments of investors and forced them to bet cautiously tracking global cues.

Realty Index dropped 2% so far on Monday, at around 10:30 AM, it was trading at 471.65 down 5.65 points or 1.18%, hovered between 476.35 and 466.50 during intraday trade. 8 scrips were on a  declining note whereas Sunteck and Prestige were only gainers struggling to lift the index.

Heavyweight Macrotech Developers (Lodha) emerged as top bear tumbling by 4% at Rs1,196.70 per piece. Real estate major Sobha dropped 1.7% at Rs855 per piece.

Indiabulls Real Estate and DLF shed over 1.4% each to emerge the biggest laggards in the sector.

Brigade plummeted 1.36% at Rs487.35 per piece while Godrej Properties was tumbled by 1.13% at Rs1808 per piece on the index.

Phoenix Mills was 0.34% on the downside at Rs996.15 per piece while Oberoi Realty also struggles marginally at Rs841.70 per piece.

However, on the upside Sunteck was the top performer surging by 2% at Rs451.20 per piece followed by Prestige up by 0.85%. 

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