Nifty Realty index surges near 2% supported by heavyweights Godrej Properties, Lodha, Indiabulls Real Estate; Phoenix Mills only loser

16 Feb 2022 , 10:43 AM

On Wednesday trading session despite volatile market cues, Nifty realty stocks was trading in the fast lane supported by heavyweight stocks. Domestic equities were driven by a super rally as except metal, all other sectoral indices are trading in the green with power and realty indices up 1% each amid easing geopolitical tensions between Russia and Ukraine.

However, the earning season for the quarter has been healthy so far and thus providing support to the index.

Nifty Realty stocks defied the volatile markets to surge higher today. The index has gained nearly 2% on Wednesday’s trading session.

At around 10:40 AM, Nifty Realty was trading at 458.60 up 7.90 points or 1.75%. It touched an intraday high of 460.15 and an intraday low of 452.25 during early trading hours.

On the trading window, heavyweight Godrej Properties emerged as top gainer surging over 3.4% followed by Indiabulls Real Estates edging up by 2.75%. Macrotech Developers (Lodha) also jumped by 2.5% at Rs1,262.90 per piece. Also, Oberoi Realty advances over 2%.

Further, Brigade and Prestige climbed over 1% each while DLF and Sunteck jumped near 1%. Sobha contributed to the sector by adding marginal gains. On the contrary, Phoenix Mills was the only and biggest loser performing at Rs938 per piece down by 1%.