Nifty Realty plunges over 2%; Brigade, Phoenix Mills, DLF emerge top losers

6 Jan 2022 , 01:00 PM

Nifty Realty shed over 2% amid weak markets on Thursday after a good performance on Wednesday. Brigade Enterprises, Phoenix Mills Limited, and DLF dragged the most. SunTeck Realty was the only realty stock trading marginally in the green.

Residential sales continued to grow strong in the October-December quarter across India, with the help of low mortgage rates, stable residential prices, and continued Work-from-Home trend among various other factors would be in focus.

Indian equities slumped on Thursday following a sell-off in technology shares in Asia and overnight losses on Wall Street as concerns grew about aggressive monetary tightening by the US Fed. Concerns about the increasing cases of the Omicron variant of COVID-19 persisted among investors globally.

Sensex plunged 900 points and Nifty down 17,700 during intraday trade. At around 1.00 pm, BSE Sensex was trading at 59,495.49 down 727.66 points or 1.21% and Nifty50 at 17,714.00 down 211.25 points or 1.18%. Nifty FMCG was trading at touching a high of and low of during intraday trade on Thursday.

Brigade Enterprises sank 4% at Rs448.50 per piece to drag the most. Phoenix Mills Limited was over 3% lower at Rs949.95 per piece. DLF was under pressure at Rs393.00 per piece, down 2.25%. 

SunTeck Realty was the only stock trading in the green, up 0.10% at Rs514.95 per piece.