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Realty index drops over 2 percent

February 2, 2010

Realty stocks fared poorly on Tuesday with the sectoral index slipping nearly 2.5 percent in an overall market that dropped nearly 200 points.

Anant Raj Industries ended as the top sectoral loser with losses of over 5 percent. Unitech followed closely with a drop of 4.3 percent. Shares in DLF, India’s top listed realty firm shed 2 percent.

Only three stocks in the index – Ansal Properties, Sobha Developers and Phoenix Mills – ended in the green.

The realty index has dropped over 10 percent in 2010 as compared to a near 7.5 percent fall in the BSE Sensex. Unitech has dropped 11.6 percent and DLF has slipped nearly 10 percent in the same period.

Would you take advantage of the fall and buy some stocks in this sector?

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