Money on the markets

A maturing market amid the mayhem

Bad day for realty, Unitech falls over 5 pct

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Shares in Unitech, one of India’s leading realty firms, dropped over 5 percent on Thursday as the broader market ended down over 150 points.

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.

Top listed realty firm DLF was also under pressure and fell 3.4 percent. Both DLF and Unitech were among top traded counters on BSE.

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DLF, Unitech shares bounce back

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Shares in Unitech, India’s leading real estate firm, gained over 10 percent on NSE after its shares suffered major losses on Tuesday as markets dropped sharply.

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 stocks slump

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The BSE Realty Index lost 9.8 percent on Tuesday in a broader market that slipped nearly 500 points on the first trading day of November.

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.

Realty index dives

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The BSE Realty Index slid nearly 8 percent to a two-month low on Tuesday after the Reserve Bank of India (RBI) withdraws some liquidity measures.

The BSE Realty Index ended 6.2 pct down, with the main losers being Puravankara (down 9.9 percent), Omaxe (down 9.6 percent), HDIL (down 8.6 percent) and Unitech (down 7.6 percent).INDIA-ECONOMY/

Realty shines

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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.

Realty stocks rise in a weak market

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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.

Sensex recovers another 400 pts

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INDIA-BUDGETIt was another good day on Dalal Street with the benchmark gaining 400 points to close at 14,253, as investor confidence was boosted by strong results by two U.S firms.

The Nifty index rallied 122 points to close above the 4,200 mark.

Reliance Industries led the benchmark’s rise with a 3.5 percent jump. L&T’s rise of 4.1 percent also gave support.

Sensex drops 292 points

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MARKETS-SOUTHASIA/STOCKSIn pre-budget pessimism, investors booked profits on Tuesday shaving nearly 300 points off the benchmark.

The Sensex closed 1.97 pct down at 14,494, while the Nifty slipped 100 points to 4,291.

Sensex ends lower after volatile session

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INDIA-BUDGETThe Sensex remained volatile in trade and ended 77 points lower at 14,346 on fears that below normal monsoon rains can hurt the economy.

Reliance Industries, which has an over 14 percent weight in the benchmark, led the fall, slipping over 2 percent to 1,959 rupees. ITC, ONGC and BHEL were the other contributors.

Sensex drops 438 pts on profit-booking

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INDIA-BUDGETThe benchmark index slumped 438 points to below 15,000 as investors booked profits after a sharp rally over the past three months.

Weak global cues also dampened sentiments and the Sensex ended 2.9 percent down at 14, 666. The Nifty closed 3.4 percent lower.

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