Nifty Realty pulls back from record highs, index sheds 2%; Oberoi Realty tumbles 7%

Indiabulls Real Estate supported the index by gaining nearly 1%.

Sep 28, 2021 10:09 IST India Infoline News Service

On Tuesday, Nifty Realty erases record level gains as benchmark indices were trading with marginal losses in the volatile session. Nifty Realty joined the markets bears to drop 2% after recording fresh highs this entire month. 8 scrips were on a declining note whereas Hemisphere and Indiabulls Real Estate were only gainers that limited the losses on the index.

At around 10:35 AM, Nifty realty was trading at 505.25 down 11.05 points or 2.14%, after touching a high of 517.75 and low of 504.45 during intraday trade.

Meanwhile, the BSE Sensex was trading at 59,981.65 down 96.23 points or 0.16% and the Nifty50 at 17,857.90 up 2.80 points or 0.02%.

On the sectoral front, while IT stocks were down 1%, PSU Bank, metal and oil & gas indices gained by about 1% each in the volatile session.

Oberoi Realty emerged as biggest laggard plunged by 7% at Rs880.95 per piece. Prestige and DLF shed around 3% at Rs479.80 per piece and Rs410 per piece respectively to join the bears.

Real Estate majors Sobha (-1.73%), Sunteck (-1.38%), Phoenix Mills (-1.27%) and Godrej Properties (-1.03%) hit the red zone to drag the sector most after one-month bullish run. Brigade also shed 0.62% on the sector. 

However, on the upside Hemisphere Properties top the charts by adding 1.30% gains at Rs143.95 per piece to the sector. Indiabulls Real Estate also supported the index by gaining nearly 1%.

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