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from India Insight:

Markets this week: Sensex falls 2.6 percent, Jindal Steel slumps 9 percent

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After rising for four consecutive weeks, the BSE Sensex fell 2.6 percent in the last five trading sessions, as a surprise repo rate hike by the Reserve Bank of India (RBI) on Sept. 20 dampened investor confidence and battered banking shares.

Rate-sensitive sectors were hurt -- the banking index and the realty index lost over 7 percent in the week. YES Bank fell 14.5 percent, SBI lost 6 percent while shares of DLF slumped 13 percent.

While analysts expected the new RBI chief Raghuram Rajan to hold rates last week, expectations for monetary policy have suddenly shifted towards further tightening after the rate hike, a recent Reuters poll showed.

Here are the top losers and gainers of the week.

LOSERS

JINDAL STEEL AND POWER: The stock fell 9.2 percent this week, after rising for three consecutive weeks. Shares in Jindal Steel have struggled in 2013 and are down more than 47 percent.

from India Insight:

Kejriwal needs different approach to win hearts and votes

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The Arvind Kejriwal-Robert Vadra faceoff has finally reached the place where it should be -- in court instead of in the press.

An activist named Nutan Thakur filed a public interest litigation (PIL) in the Allahabad High Court on Oct. 9, and it has now been admitted. The government must respond within three weeks. Thakur wants the court to explore allegations by social activist Kejriwal that Vadra, son-in-law of Congress Party chief Sonia Gandhi, has been involved in shady land deals.

from India Insight:

The news this weekend: LPG, Kejriwal, toilets, politicians… and Somali pirates

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It's shaping up as a busy weekend for India's politicians...

The price of LPG -- liquefied petroleum gas cylinders, or cooking gas -- has risen 11.42 rupees per cylinder because dealers are getting higher commissions. TV channels attacked the government because this "shocker" comes right after the imposition of a cap on subsidized cylinder sales was imposed.

Bharatiya Janata Party politician Smriti Irani said the party will hold a nation-wide protest on Oct. 12, saying the higher prices are “anti-women”. This is presumably because they do more of the daily cooking than men, whose potential inversely proportional waistline shrinkage could be in their favour.

from Money on the markets:

BSE Realty Index slips 3 pct; Unitech down 7 pct

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Concrete slabs are lifted at the construction site of Bandra-Worli sea link in Mumbai, April 28, 2009. REUTERS/Arko Datta/Files

The BSE Realty index ended lower on Tuesday on concerns of increasing interest rates and as rising input costs weighed on investors.

Analysts said with foreign funds pulling out more than $1 billion from Indian equities since the start of January, the outlook for the near term remained subdued.
The BSE Realty index was down 3 percent, underperforming the benchmark index, which was down 1.5 percent. Shares of DLF, Unitech, Indiabulls Real Estate and Sobha Developers were down between 1 and 7 percent.
The Realty index has slipped over 20 percent in 2011. Do you see a further downside in real estate shares?

from Money on the markets:

Realty stocks struggle, Unitech falls 10.6 pct

Shares in Unitech, one of India’s leading real estate firm, fell 10.6 percent on Tuesday to close at 43.05 rupees. The stock ended as the top loser in the BSE Realty Index.

Rival DLF shares ended 1.4 pct lower. DLF said it was cautious on the near-term outlook as rising interest rates could weigh on demand after the firm reported a marginal drop in quarterly earnings.

from Money on the markets:

Real estate index rises

Stocks of real estate firms posted decent gains on Thursday, with HDIL standing out with a 9 percent jump.

The realty index closed 2.2 percent higher, topping the BSE sectoral indices table.

from Money on the markets:

Realty stocks end lower

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It was not a great day for markets and real estate stocks especially, as the sectoral index slipped 3.84 percent.

Indiabulls Real Estate ended down 5.86 percent, followed by DB Realty which slipped 4.6 percent.

from Money on the markets:

Realty stocks fall

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It was a tough day for those who invest in real estate stocks as the BSE Realty index fell 4.76 percent on Friday, in a Mumbai market that fell more than 400 points.

Sobha Developers was worst hit in the sector, ending down 6 percent. Unitech shares fell 5.9 percent, while DLF slipped 5.46 percent.

from Money on the markets:

BSE Realty Index gains

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INDIA

The BSE Realty Index closed 1.2 percent higher on Thursday while the broader market remained volatile and closed 0.4 percent lower at 19417.

Shares that boosted the sectoral index were DLF (up 2.6 percent), Unitech (up 1.5 percent) and Ansal Properties (up 2.1 percent). However, Omaxe dropped over 2 percent.

from Money on the markets:

Realty stocks gain in strong Mumbai market

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.

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