Nifty Realty index zooms 4% as investors turn bullish; DLF hits 52-week high

DLF surged 10.20% to Rs272.15 after hitting a 52-week high of Rs278.35 on the NSE.

Jan 12, 2021 01:01 IST India Infoline News Service

Bull Market
Nifty Realty zoomed 4% on Tuesday after a subdued start. DLF led the rally and hit 52-week high of Rs278.35 on the NSE.

At around 1.20 pm, Nifty Realty index was trading at 342.30 up 12.75  points or 3.87%, touching a high of 343.65 during an intraday trade on Tuesday.

The Realty Index has made consistent gains in recent times after Maharashtra cabinet on January 6 cleared the proposal to reduce all premiums for on-going as well as new real estate projects by 50%, up to December 2021.

DLF surged 10.20% to Rs272.15 per piece. Indiabulls Real Estate was also bullish at Rs87.75 per piece up 3.97% while Prestige was 3.5% higher. Prestige Estates Projects recently acquired a 50% stake in Pandora Projects. 

SunTeck Realty also rose 4% to Rs387 in early trade after the realtor said its sales bookings increased 7% year-on-year to Rs349cr in the third quarter on better demand. It was selling at Rs380.70 up Rs9.55 or 2.57%.

Oberoi Realty (up 2.30%), Brigade (up 2.04%) and Godrej Properties (up 1.33%) were also in huge demand.

Omaxe and Sobha were also marginally higher.

Phoenix Limited after leading the gains on Monday was at the bottom, trading 0.31% lower.

BSE Sensex was trading at 49,463.99 up 194.67 points or 0.40% and Nifty 50 at 14,558.95 up 74.20 points or 0.51%.

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