Nifty Realty spikes by 1.22%

DSIJ Intelligence / 24 Oct 2017

Nifty Realty spikes by 1.22%

Realty stocks witnessed a surge on Tuesday, following a similar uptick on Monday. The Nifty Realty index was higher by 1.22%

 

Realty stocks witnessed a surge on Tuesday, following a similar uptick on Monday. The Nifty Realty index was higher by 1.22% at 12:39 IST. 

With the RERA and GST settling in, market participants expect sales of residential and commercial units to pick up. Increase in affordable housing units and attractive low-interest rates offered for home loans are also expected to push sales in the upcoming quarters. 

Sobha Limited was leading the pack, trading at Rs. 538.05 per share, higher by 4.65%. The stock of Prestige was trading at Rs. 289.95, up by 3.89%, Godrej Properties was at Rs. 687.10, up by 3.87%; HDIL was at Rs. 55.80 per share, up by 2.86%. 

Among realty stocks, Brigade Enterprises, DLF and India Bulls Real Estate were trading in the green zone, while Oberoi Realty, Phoenix Mills and Unitech were trading in the red zone at lunch hours. 

At 12:38 IST, Nifty50 was trading at 10,224.70, higher by 39.85 points or 0.39%, while S&P BSE Sensex was trading at 32,625.14, higher by 118.42 points or 0.36%.

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