The top gainers included DLF, Godrej Properties, Indiabulls Real Estate and Phoenix Mills which gained 4- 6 percent followed by Oberoi Realty, Sobha, Sunteck Realty and Brigade Enterprises.
The Indian stock market has been trading on a strong note with Sensex is up 294.47 points or 0.86% at 34502.52, and the Nifty up 91.10 points or 0.90% at 10182.80.
Among the sectors, the realty index jumped 4 percent and is the outperforming sector. The top gainers included DLF, Godrej Properties, Indiabulls Real Estate and Phoenix Mills which gained 4- 6 percent followed by Oberoi Realty, Sobha, Sunteck Realty and Brigade Enterprises.
S&P BSE Realty also added over 4 percent intraday with the sector gaining 21.06 percent over last one month.
Shares of DLF was the top gainer with the scrip adding over 19 percent in the last 1 month. It was trading with volumes of 721,537 shares, compared to its five day average of 392,320 shares, an increase of 83.92 percent.
On the other hand, Godrej Properties shares zoomed 44 percent in the last 1 month and was quoting at Rs 864.05, up Rs 39.45, or 4.78 percent at 12:02 hours.
Brigade Enterprises in an interview to CNBC-TV18 said that all verticals of the company have done well in FY20 with the residential business witnessing green shoots.
The management expects marginal increase in realisation in FY21 and expects it to bounce back in October. The company however said that the hospitality business is not going to recover anytime soon.
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