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Bad day for realty stocks

February 4, 2010

INDIA

The BSE Realty Index slumped 3.8 percent on Thursday in a broader market that was weighed down by weak global cues.

The Realty Index was the top sectoral loser on the BSE, with all components except Mahindra Lifespace, ending in the red. Sobha Developers dropped 5.6 percent.

Top firms Unitech and DLF slipped more than 4 percent each.

The Realty Index has dropped over 10 percent so far this year. The top losing counters during this period include HDIL (down 9.6 pct), Unitech (down over 13 percent), DLF (down over 11 percent) and Indiabulls Real Estate (down over 24 percent).

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