Top Bull: Nifty Realty at new historic highs, index surges 5%; DLF, Godrej Properties, Sunteck, Phoenix, Brigade hit fresh records

Prestige jumped more than 2% at Rs439.95 to support the index reaching new highs.

Sep 23, 2021 10:09 IST India Infoline News Service

The Nifty Realty index continues to hit new record high on Thursday's session while tracking broader positive market cues. Major stocks stretched the winning streak by hitting 52-week high as realty stocks have been witnessing expeditious gains this year. In the last two sessions alone, the realty pack has jumped 12.3%, at a time when the global markets are volatile due to Evergrande crisis.

However, Indian markets have broadly escaped the heat of  China's biggest real estate developer, Evergrande's default. Back at home, the  realty stocks has been logging lifetime highs and is expected to have healthy growth in demand and sales in the upcoming festive seasons.

Also, the Foreign direct investments into the country more than doubled to $20.42 billion during the April-July period of the current fiscal, the commerce and industry ministry said. 

At around 10:45 AM, Nifty Realty was trading at 479.15 up 24.60 points or 5.41%, after hitting a  fresh record high at 484.15 as all the stocks were in the green state.

DLF, Godrej Properties, Sunteck Realty, Brigade and Phoenix Mills zoomed the index by hitting 52-week highs while other stocks join bullish bandwagon to lift the index at fresh record highs.

DLF surged more than 7% to hit 52-week high at Rs403.65 per piece. Godrej Properties led the record march by hitting 52-week high at Rs2,120 per piece, zooms over 7% in an upbeat market.

Hemisphere Properties, Oberoi Realty were also on upside by 5.67% and 5.30% each while Indiabulls Real Estate also gains over 4.5%. Sunteck and Sobha gained around 4%. Sunteck hit new high at Rs486.25 per piece, while Brigade and Phoenix also joined the trend by hitting 52-week high at Rs425 per piece and Rs938 per piece respectively.

Prestige jumped more than 2% at Rs439.95 to support the index reaching new highs.

Related Story

Open Free Demat Account (Rs699)