Nifty Realty dives tracking broader bearish markets; Indiabulls zooms 8%; Sunteck, DLF, Godrej Properties top bears

22 Feb 2022 , 10:45 AM

Realty stocks witnessed a sharp free fall on Tuesday amid uncertainties over the Ukraine crisis. The index emerged among the top bears due to broad-based selloff in majority stocks. Nifty Realty was trading lower with heavyweights Godrej Properties, Oberoi Realty and Lodha being the worst hit as the economic consequences have already escalate the tension over higher crude and gold prices.

The markets were under steep selling pressure as Russian/Ukraine tension news keeps market nervous. Also, oil prices spike as Russia sends troops into the breakaway states of Ukraine due to which economic crisis has been aggravated and turned investors to trade carefully.

The index has traded between an intraday high and low of 438.40 and 430.20 respectively.

At around 10:40 AM, Nifty Realty was trading at 437.35 lower by 5.55 points or 1.25%. Except for Indiabulls Real Estate, all other scrips were in the red.

Indiabulls Real Estate skyrocketed 8% at Rs111.35 per piece to support the index while on the contrary, index heavyweight Sunteck Realty was the top bear nosedived over 4% so far today followed by other major stocks like DLF and Oberoi Realty plunging around 3.5% and 1.5% respectively. 

Heavyweight Godrej Properties and Prestige dipped over 1% each. Brigade slipping 0.97% followed by Macrotech Developers (Lodha) shedding 0.32% and Sobha was lower by 0.17% on the index. Phoenix Mills also witnessed marginal downfall.

Meanwhile, the markets may witness volatility as investors are monitoring Russia-Ukraine threat deeply which might sway their sentiments to bet.