Nifty Realty surges 1.5% amid bearish markets; Indiabulls jumps 7%

Prestige Estates Projects and Hemisphere Properties were also bullish. Sobha and Brigade were under selling pressure.

Jul 19, 2021 11:07 IST India Infoline News Service

Bull Market
The Nifty Realty index stretched its winning streak despite bearish markets on Monday. The Index rose nearly 2% on Friday to follow up the gains of previous days and continued momentum to a new week.

The realty sector was over 1.5% higher with Indiabulls Real Estate surging 7%, while Prestige Estates Projects and Hemisphere Properties were also bullish. Sobha and Brigade were under selling pressure.

The real estate sector is witnessing record registrations in the metro cities.  Demand has picked up as real estate owing to low prices and interest rates are very attractive.

At around 11.55 AM, the Nifty Realty was trading at 403.55 up 6.00 points or 1.51%, touching a high of 404.70 and low of 391.65 during intraday trade on Monday.

Meanwhile, BSE Sensex was trading at 52,749.22 down 390.84 points or 0.74% and Nifty50 at 15,820.25 down 103.15 points or 0.65%. 

Indiabulls Real Estate was bullish, sealling at Rs153.10 per piece to lift the performance. Prestige rose 4.58% at Rs344.75 per piece while Hemisphere Properties was 3.18% higher at Rs157.45 per piece. 

DLF also advanced 1.7% to keep the winning momentum and Godrej Properties was also 1.15% higher. Sunteck Realty, Phoenix Limited and Oberoi Realty was also trading higher.

Sobha was under sellign presssure at Rs640.55 per piece, down 2.7% while Brigade shed 1.9% at Rs332.70 per piece to emerge the second laggard in the sector.

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