Realty stocks continued winning streak to enter the New Years eve on a bullish note. The sector led the gains on Monday, to carry forward mild gains of Thursday and convert them into huge ones at start of a new week. Real Estate has already gained 6% on a single day this month.
At around 12.40 pm, Nifty Realty was trading at 309.80 up 10.55 points or 3.53%. It has touched a high of 310.50 in the intraday trade so far on Monday.
The festivity, positive news on Covid-19 vaccine seems enough to cheer up investors ahead of the new year. The cuts announced by local authorities on stamp duty, reduction of rate of interest and other similar measures have also lifted the demand in the sector.
Godrej Properties led the gains again and was trading at Rs1,437.60
up Rs 73.50
or 5.39%.
DLF followed up by surging 4.91%.
Indiabulls Real Estate and
Sobha also advanced over 4.5% to be among the top gainers in the sector. Omaxe also marched 4.07% higher.
Among the other gainers were Prestige Estates Projects (up 2.68%), Oberoi Realty Ltd (up 1.76%), and Brigade (up 1.23%).
On the other hand,
Phoenix Mills Ltd (down 0.30%) and Sunteck Realty (down 0.27%) moved lower.
BSE Sensex was trading at 47,329.12 up 355.58 points or 0.76% and Nifty 50 at 13,862.40 up 113.15 points or 0.82%.
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