The Nifty Realty Index declined 2% in Monday’s late morning trade amid heavy selling pressure in DLF
, Oberoi Realty
, and Phoenix Mills
Shares of DLF and Oberoi Realty, which declined 5% and 3%, respectively, were leading the index’s fall. Shares of Prestige and Sobha contributed to the fall, declining 2% each. Phoenix Mill, Brigade
, Godrej Properties
, and Sunteck
also fell 1% each.
Meanwhile, equity benchmark indices were trading down on Monday with the Sensex declining 234 points at 38,906 levels. The Nifty also dropped 85 points at 11,667 levels, well below its key level of 11,700.
Besides, on the currency front, the Indian rupee depreciated to 53 paise to trade at day’s low level of 69.88 against the dollar compared to its previous close of 69.35/$ on the back of increased crude oil prices in global markets.