Nifty Realty advances over 1% amid positive markets; Indiabulls, Oberoi Realty, Godrej Properties led the pack

7 Jan 2022 , 10:45 AM

The Nifty Realty index was trading bullish on Friday’s session rebounding from its previous day selloff. The index advanced 1% despite volatile global cues. Indiabulls Real Estate stretched the winning streak while Phoenix Mills and Brigade continued to remain under pressure.

In broader markets, except pharma, all other sectoral indices witnessed buying sentiments from investors tracking overall markets.

Further, in an exceptional and remarkable year with pandemic and lockdowns, the real estate sector showed great resilience in 2021. According to the Knight Frank India report, the residential sales rises by 51% yoy in 2021 with the help of low interest rates, stable residential prices and continued Work-from-Home trend across the country.

At around early morning deals, Nifty Realty was trading at 490.85 higher 5.20 points or 1.07%, after touching a high of 492 and low of 487.05 during intraday trade.

On the index, Indiabulls Real Estate led the charge by surging over 3.5% at Rs165.10 per piece followed by Oberoi Realty, DLF, Sunteck, Lodha gaining between 1.5-2% each to lead the gains.

Heavyweight Godrej Properties and Prestige surged 1.17% and 1.11% per piece respectively to support the index.

However on the downside, Phoenix Mills was the top laggard shedding over 1.5% at Rs950.05 per piece followed by Brigade plunging near 1% on the index.