Nifty Realty Plunges Nearly 4% As Oberoi Realty, Lodha And Others Drag
With Thursday's decline, the Nifty Realty snapped a three–day gaining streak. In three days to Oct 16, the index gained 2.61%.
Esqiuire and Exquisite by Oberoi Realty Ltd. (Source: Company website)
The NSE Nifty Realty declined nearly 4% and was the worst performing sector on the National Stock Exchange on Thursday. Oberoi Realty Ltd., and Macrotech Developers Ltd. share prices dragged the indices the most.
The market capitalisation of realty stocks on NSE declined Rs 2,364.54 crore to Rs 6.87 lakh crore as of 12:45 p.m.
The NSE Nifty Realty declined 3.57% to 1,046.20. With Thursday's decline, the Nifty Realty snapped a three–day gaining streak. In three days to Oct 16, the index gained 2.61%.
The index was trading 3.28% lower at 1,049.20 as of 12:46 p.m. The index gained 71.66% in 12 months, and 33.91% year-to-date. The relative strength index of Nifty Realty was 46.15.
The NSE Nifty Realty declined 3.57% to 1,046.20.
Oberoi Realty fell as much as 5.58% to Rs 1,917.35 apiece so far today. It reversed a seven–day winning streak on Thursday. In the last seven days, the stock gained 9.38%. The stock was trading 5.22% lower at 1,924.55 as of 12:47 p.m.
The second top loser, Macrotech Developers, popularly known as Lodha, fell 4.03% to Rs 1,173.85 apiece. It was trading 3.74% lower at 1,177.30 apiece as of 12:47 p.m.
Macrotech Developers share price had gained for three straight days this week before erasing gains on Wednesday. In the three days to Oct 16, Lodha's real estate arm's share price fell 1.04%.
Meanwhile, Sunteck Realty Ltd., and Mahindra Lifespace Developers Ltd. logged the least decline among realty stocks. Intraday, Sunteck Realty declined 1.93% to Rs 584.55 apiece, and the Mahindra Lifespace Developers Ltd. fell 2.08% to Rs apiece 520.30.
Sunteck Realty share price was trading 1.78% lower at Rs. 585.45 as of 12:48 p.m. Mahindra Lifespace Developers share price was 1.65% down at Rs 522.50 as of 12:49 p.m.
