Nifty Realty trades higher; DLF, Indiabulls Real Estate, Brigade drive the performance

Godrej Properties dragged the most while Sobha was also under selling pressure on Friday.

May 07, 2021 01:05 IST India Infoline News Service

Nifty Realty Index was bullish despite trimming some gains in the afternoon trade. The Index tracked overall bullish markets. DLF, Hemisphere Properties India Limited, Indiabulls Real Estate and Brigade advanced over 2% to lift the performance.

Despite the second wave of Covid-19, the sector hasn’t been impacted severely like last year due to comparatively less curb on doing real estate business. The quarterly earnings are also playing on the minds of the investors.

At around 1.45 pm, Nifty Realty was trading at 307.85 up 2.50 points or 0.82%, touching a high of 312.00 and low of 306.25 during intraday trade on Friday.

DLF surged over 2.8% at Rs257.60 per piece to lead the sectorial gai ns. Hemisphere Properties advanced over 2.6% at Rs135.55 per piece. Brigade gained 2.1% at Rs259.60 per piece and Indiabulls Real Estate also was 2% on the upside at Rs78.35 per piece. 

Sunteck Realty, Prestige and Oberoi Realty were marginally higher while Phoenix Limited was trading flat.

Godrej Properties dragged the most while Sobha was also under selling pressure on Friday. Godrej Properties dropped 0.74% at Rs1,245.25 per piece while Sobha lost 0.52% at Rs474.70 per piece. 

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