Nifty Realty index slips ~1%; DLF stock tumbles 6%

Shares of DLF tumbled 6%, and Godrej Properties slipped 2%, leading the index’s fall.

Apr 08, 2019 06:04 IST India Infoline News Service

nifty realty
The Nifty Realty Index dropped ~1% in the late morning trade amid heavy selling in DLF, Godrej Properties, and Mahindra Lifespace.

Shares of DLF tumbled 6%, and Godrej Properties slipped 2%, leading the index’s fall. Shares of Phoenix Mills also contributed to the fall, declining 1%.

On the flip side, Indiabulls Real Estate surged 8%, followed by Sunteck, Brigade and Prestige rose 1-3% in today’s trade.

Shares of DLF were trading 6% lower on the NSE after block deal. According to the media reports, 6.81cr shares or 3.5% equity changed hands in a single block deal.

Indiabulls Real Estate stock price jumped 8%. The company experienced a spurt in volumes by more than 3.60 times.

Shares of Sobha Ltd rose 1% after the company has achieved a record fourth quarter in terms of pre-sales numbers, enabling it to close a record financial year as well. In the FY18-19, it has achieved pre-sales of 4.03 mn square feet valued at Rs3123cr.

Meanwhile, equity benchmark indices were trading in the red on Monday with the Sensex slipping 92 points at 38,770 levels. The Nifty also dropped 42 points trade at 11,623 levels.

Incidentally, India VIX, the measure of volatility, is up about 9.85% at 20.20.

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