It was a tough day for investors in realty stocks, as the sectoral index slipped 1.8 percent and ended as the top loser among indices.
Anant Raj Industries led the losers, ending down 3 percent. Top listed firms like Unitech and DLF followed, slipping 2.5 and 2 percent respectively.
Shares in lender SKS Microfinance fell nearly 9 percent in trade on Monday after the firm said it had terminated the appointment of its chief executive.
The stock ended 5.8 percent lower.
SKS, India’s largest microlender that raised about $358 million in an IPO in August, said in a notice it had withdrawn all powers granted to Suresh Gurumani, MD and CEO, with immediate effect, without giving any reason.
Mahindra Satyam on Wednesday reported net losses for FY2009 & FY2010, giving the first view of its financial state almost 2 years after it was hit by India’s biggest corporate fraud.
Shares in Satyam ended just 0.1 percent higher at 98.9 rupees ahead of results announcement.
The BSE Realty Index gained 2.7 percent on Friday and ended as the top sectoral gainer, with stocks such as DLF and Unitech posting smart gains.
DLF, India’s top listed firm, ended 5.2 percent higher at 365.65 rupees, while Unitech gained 3.14 percent. Sobha Developers topped the index with gains of 6.5 percent.
Bank stocks corrected on Thursday and the banking index ended down 1.2 percent, as the overall market slipped on profit booking.
SBI and ICICI Bank closed down 0.2 percent and 2.3 percent respectively. HDFC Bank and mortgage lender Housing Development Finance lost 0.6 percent.
Shares in automobile companies rose on Wednesday on hopes of buoyant demand during the September-to-December festive season.
Top car maker Maruti Suzuki rose 3.6 percent after Bank of America-Merrill Lynch upgraded it to buy from underperform.
The BSE FMCG Index closed 3.5 percent higher on Monday and topped the list of sectoral gainers with stocks such as ITC and Colgate posting smart gains.
ITC touched an intra-day high of 5.9 percent, its highest level in at least 20 years, helped by robust domestic consumption. The share closed 4.9 percent up.
The BSE Realty Index gained 2.5 percent on Monday, with Unitech and DLF posting good gains in a broader market that closed over 400 points up on strong factory data and global cues.
Unitech was the top gainer in the index, rising 3.5 percent to 84.8 rupees, followed by DLF which gained 3.4 percent.