Nifty Realty stocks drive ahead; Indiabulls Real Estate, Phoenix Mills, Oberoi Realty and Hemisphere Properties led the bull run

Sunteck shed nearly 1% while, Brigade lost 0.77% to emerge as the sectorial laggards on Monday.

May 31, 2021 01:05 IST India Infoline News Service

Bull Market
The Nifty Realty index hit new peaks on Monday to lead the overall bullish markets. The realty index gained 2% at one point of time after a gap-up start. The moderation in daily new Covid cases in India improved risk sentiments. Indiabulls Real Estate, Phoenix Mills, Oberoi Realty and Hemisphere Properties led the bull run in today's afternoon trade.

At around 1.10 PM, Nifty Realty index was trading at 336.75 up by 1.55%, touching at day’s high of 338.75 during intraday trade on Monday.

Meanwhile, the BSE Sensex was trading at 51,891.89 up 469.01 points or 0.91% and the Nifty50 at 15,562.15 up 126.50 points or 0.82%.

Indiabulls Real Estate outperformed, gaining 4% at Rs101.80 per piece to lead the sectorial gains. 

Oberoi Realty advanced 3.8% at Rs608.40 per piece. The Phoenix Mills Limited was up 3.6% at Rs793.50 per piece. The company, Island Star Mall Developers Private Limited (‘ISML’), a subsidiary Company and Canada Pension Plan Investment Board (“CPPIB”) on May 27, 2021 have executed a Further Funding Subscription Agreement (‘Subscription Agreement’).

Hemisphere Properties was also nearly 3.6% high at Rs137.15 per piece.

Sobha Realty stock was also in demand at Rs488.05 per piece, up 2.76% and Godrej Properties (up 1.25%), stock also found buyers. DLF and  Prestige were also trading in the green. 

Sunteck shed nearly 1% at Rs287.95 per piece and Brigade lost 0.77% at Rs263.05 per piece to emerge the sectorial laggards on Monday.

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