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Nifty Realty plummets 2% as heavyweights Godrej Properties, Lodha, Oberoi Realty drag; Sobha only gainer

Oberoi Realty declined around 2.5% being the top underperformer in the index.

December 24, 2021 10:45 IST | India Infoline News Service
Nifty Realty erased all the morning gains to trade near day's low points amid volatility on Friday. The index witnessed deep selling pressure as heavyweights Godrej Properties, Macrotech Developers (Lodha), Oberoi Realty log massive profit bookings.

However, the market focuses in on new strategies for upcoming year 2022 where investors hope that real estate stocks may continue to shine bright in 2022 despite the uncertainty around the spread of Omicron variant.

Today, realty Index dropped nearly 2% so far today. At around 10:45 AM, it was trading at 475.60 down 8.85 points or 1.83%. The index hovered between intraday low of 474.95 and high of 486.40.

Oberoi Realty declined around 2.5% being the top underperformer in the index. Lodha and Godrej Properties also shed 2.3% each to drag the major sector. 

Prestige and Indiabulls Real Estate was 2.07% and 1.88% respectively on the downside while stocks like Phoenix Mills (down 1.64%), DLF (down 1.41%), Sunteck (down 1.28%) were also under pressure as real-estate bears.

However, on the upside, Sobha hold the gains to trade marginally higher being the only gainer on the index.

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