Realty stocks surge on funds buying

Brokers said easy availability of finance in the market and the governments8217; move to raise the cap on foreign investment in bonds to increase funds available able for infrastructure sector,mainly generated buying interest in realty sector.

Meanwhile,the government has raised the current limit of FIIs investment in government securities to USD 10 billion in corporate bonds to USD 20 billion,which will provide much-needed funds for the sector.

DLF Ltd,the country8217;s largest realty developer,continued its upward journey and gathered another 0.98 per cent higher at Rs 369.25 after touching the session8217;s high of Rs 375.

Another sector major Unitech,after touching an intra-day high of Rs 111.80,shed some initial gains and finally managed to settle for the day at Rs 86.90,still up 1.82 per cent.

A likewise trend was seen for other leading realty players,including Indiabulls,which settled 1.95 per cent higher at Rs 177.45,HDIL by 1.88 per cent to Rs 270.90,DB Realty by 1.83 per cent to Rs 429.30 and Sunteck Realty by 0.46 per cent to Rs 667.60.