Stocks of real estate companies are under selling pressure falling by up to 11% in delayed noon deal on the bourses.
Unitech, DLF, Anant Raj Industries, Housing Development & Infras (HDIL), India bulls Real Estate, DB Realty, Oberoi Realty & Prestige Estates are down 5-10% on the BSE.
The Real Estate Company’s index – S&P BSE Realty, the biggest loser amid sectoral indices, is down nearly 6% as in compared to 0.63% decrease in benchmark S&P BSE Sensex at 1420 hours.
In past 2 months, the realty shares have outperformed the market by wide margin. Since March, the S&P BSE Realty index had rallied 22.5% against 6.4% increase of benchmark S&P BSE Sensex till yesterday.
Amid the individual shares, Unitech has tanked 11% to Rs 15.45 on the BSE. DLF has dipped 9% to Rs 140, while HDIL & Anant Raj Sectors slipped 7% each at Rs 68 & Rs 54 respectively. Indiabulls Real Estate & DB Realty is down 6 per cent every at Rs 62 & Rs 68 respectively.
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