Nifty Realty dives tracking broader bearish markets; Sunteck top gainer; Godrej Properties, Indiabulls Real Estate, Lodha major laggards

19 Jan 2022 , 10:40 AM

Nifty Realty stocks joined the market bears on Wednesday due to volatility amid mixed global cues. During early trading hours, Nifty 50 was struggling around the 18000 levels. Today, Indian Markets witnessed steep selling pressure amid broad-based profit bookings across sectoral indices.

Meanwhile, the real estate sector expects some support from government in the upcoming Union Budget to ensure the progress of the sector’s economy at this crucial juncture of Covid and Omicron worries.

Realty Index dropped nearly 1% with correction in majority stocks. At around 10:40 AM, the index was trading at 499.55 down 3.10 points or 0.62%, after touching a high of 502.45 and low of 492.65 during intraday trade.

The index was performing in the red where 6 scrips were on a  declining note.

Within the realty pack, index heavyweight Godrej Properties and Indiabulls Real Estate shed over 2% to emerge the biggest laggards in the sector.

Sobha shed 1.70% at Rs946.05 per piece while Brigade was tumbled by 1.62% at Rs493.75 per piece on the index.

Prestige was 1.41% on the downside at Rs519.25 per piece. Macrotech Developers (Lodha) was also 0.39% lower.

However, on the upside heavyweight Phoenix Mills and DLF were higher by 0.25% and 0.38% respectively to lift the sector a little.

Sunteck Realty emerged as the top bull surging by 2.04% at Rs561.05 per piece alongwith Oberoi Realty up by 1.35%.