Nifty Realty plunges by 2% amid bearish markets; DLF emerges top bear post Q4 results; Indiabulls, Prestige drag

On the upside Brigade was the only top performer surging by 2.11% at Rs285.25 per piece.

Jun 14, 2021 11:06 IST India Infoline News Service

Market_Crisis
Nifty Realty index joined the markets bears on the first day of this week due to volatility amid mixed global cues. During early trading hours, Nifty 50 was struggling around the 15,700 levels. Benchmark indices were on a negative note amid mixed global cues and continuous decline in Covid-19 cases in the country which is being negated by worries about increase in inflation to the investors.

Further, the industrial activity will pick up on a durable basis only once the pace of vaccination reaches a substantial milestone, number of cases comes under control and the respective state governments allow permission for regular economic activities.

Realty Index dropped over 1.5% on Monday at around 11:25 AM, it was trading at 352.15 down 5.70 points or 1.59%, touching a high of 360 and low of 344.25 during intraday trade on Monday.

9 scrips were on a  declining note whereas Brigade was the only gainer struggling to lift the index.

DLF emerged as top bear tumbling by 3.18% at Rs300.20 per piece post Q4 result. Real estate major on June 11 reported a consolidated profit at Rs 480.94cr for the quarter ended March 2021 against a loss of Rs1,857.76cr in the year-ago quarter. Consolidated revenue from operations grew by 1.1 percent yoy to Rs1,712.57cr in the March 2021 quarter.

Hemisphere Properties and Indiabulls Real Estate shed over 2.5% to emerge the biggest laggards in the sector.

Prestige shed 1.92% at Rs287.95 per piece while Sunteck was tumbled by 1.71% at Rs301.30 per piece on the index.

Sobha was 1.67% on the downside at Rs499.05 per piece. Heavyweight Godrej Properties also struggles at Rs1403 per piece, down by 1.32%. 

Phoenix Mills and Oberoi Realty were also trading in the red by 0.56% and 0.26% each.

However, on the upside Brigade was the only top performer surging by 2.11% at Rs285.25 per piece. 

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