Money on the markets
A maturing market amid the mayhem
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.
The BSE Realty Index lost more than 4 percent to end as the top sectoral loser.
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The BSE Realty Index gained 2.7 percent on Friday and ended as the top sectoral gainer, with stocks such as DLF and Unitech posting smart gains.
DLF, India’s top listed firm, ended 5.2 percent higher at 365.65 rupees, while Unitech gained 3.14 percent. Sobha Developers topped the index with gains of 6.5 percent.
It was a tough day for real estate counters as the sectoral index dropped more than 3 percent and ended as the top loser among BSE indices.
All but one stock in the index closed in red, with Orbit Corp shares ending down 5 percent as the top loser. Indiabulls Real Estate slipped 3.8 percent.
Thursday proved to be a good day for realty counters with many, including Unitech, posting decent gains.
The star performer in the index was Phoenix Mills, which gained 6.4 percent.
Unitech, one of India’s top listed real estate firms, rose 2.8 percent while rival DLF ended marginally in the green.
Tuesday turned out to be a good day for real estate counters, with the sectoral index rising 2.6 percent, and all but one component closing positive.
Shares in HDIL jumped nearly 5 percent to end as the top gainer in the index. Bigger players like DLF and Unitech rose nearly 3 percent each.
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.
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.