A maturing market amid the mayhem
Mixed luck for realty stocks
It was mixed luck for the realty sector at the markets on Friday, with some counters making good gains and some stalwarts closing in the red.
Puravankara and Parsvnath Developers rose over 7 percent and 4 percent respectively, while Indiabulls Real Estate, Unitech and Ansal Properties closed in the red, capping gains in the sectoral index which closed just 0.4 percent up.
Stocks in this sector have been battered of late, with the realty index down more than 11 percent since May. DLF has dropped a little over 9 percent, while Unitech is down nearly 16 percent over the same period.
Given that interest rates are expected to increase in the coming months, would you take advantage of this fall and invest in this rate-sensitive sector?