Money on the markets
A maturing market amid the mayhem
Realty stocks ended the week on a negative note with the sectoral index slipping 0.8 percent to end as the top loser among sectors.
Sobha Developers led the fall with a 3.4 percent decline, followed by Peninsula Land which fell 2 percent.
Top players DLF and Unitech slipped 0.8 and 0.3 percent respectively. Anant Raj Industries was the only stock in the index that closed in the green.
The Realty Index has gained 4.6 percent this month, which is almost the same as the Sensex’s growth during the period.
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.
Weakness in realty stocks on Tuesday sent the BSE Realty Index down 1.75 percent and to the top of the list of sectoral losers.
Top listed realty firms Unitech and DLF posted losses of 2.9 percent and 1.8 percent respectively. Sobha Developers, which dropped 3.8 percent, was the top loser in the index.
Realty stocks closed the week on a positive note even as the market ended in the red. The BSE Realty Index gained over 3 percent in trade and was the top sectoral performer.
All shares in the index, except Phoenix Mills, ended positive with Peninsula Land gaining nearly 10 percent.
Only three stocks in the realty index closed in the green, with Parsvanath and Unitech ending as top losers with an over 5 percent fall each.
The 50-share Nifty index gained over 3 percent on Wednesday to close above the 4,700 mark led by gains in stocks like Reliance Industries, ICICI and Infosys.
Realty majors Unitech and DLF ended the day with losses of over 9 percent each. DLF shares have dropped more than 30 percent since October.
The BSE real estate index jumped 3.8 percent on Friday and emerged as the best sectoral performer of the day as shares of top realty firms rose.
Unitech gained 5.7 percent to end at 99.1 rupees and was the most traded counter on the BSE with volumes of over 31 million shares.
A lacklustre day for the market, but a good day for realty stocks.
The BSE real estate index made smart gains of nearly 4.6 percent on Tuesday, a day after the finance minister made additional budget proposals that could benefit the common man.
Pranab Mukherjee proposed a 1 percent interest subsidy on home loans up to one million rupees for one year and tax breaks for developers if they complete real estate projects by March 2012.