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.