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Nifty Realty trades bearish amid weak global cues; Godrej Properties, Lodha, Sunteck under pressure

Sunteck emerged as top bear tumbling near 2% at Rs471.60 per piece.

December 30, 2021 10:35 IST | India Infoline News Service
Stock Market Down
The Nifty Realty index extended its slide on Thursday tracking weak global cues as investors turn cautious on development of Omicron Covid variant concerning the strain. A broad-based selloff was recorded across sectoral indices with banking, metals, auto index taking the worst hit. 

Further, the domestic equities are expected to have a choppy session today as weak global cues & F&O expiry of index futures is likely to lead both-sided movements after a volatile start.

At around 10:35 AM, Nifty Realty was trading at 479.80 down 3.25 points or 0.67%, after touching a high of 482.90 and low of 478.70 during intraday trade.

8 scrips were on a declining note whereas Sobha and Phoenix Mills were the only gainers struggling to lift the index.

Sunteck emerged as top bear tumbling near 2% at Rs471.60 per piece followed by heavyweights Macrotech Developers (Lodha) and Godrej Properties declined 1.26% each.

Brigade and Oberoi Realty shed around 1% each while Prestige and Indiabulls Real Estate plummeted near 1% each.

DLF dropped marginally however on the upside Sobha advanced 1.35% at Rs894.70 per piece followed by Phoenix Mills surged 0.62% to contribute some gains to the sector.

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