Realty stocks up 3%https://indianexpress.com/article/news-archive/web/realty-stocks-up-3/

Realty stocks up 3%

The RBI rate-sensitive realty stocks,led by DLF,hogged the limelight on the bourses today.

The rate-sensitive realty and developers stocks,led by DLF Ltd,hogged the limelight on the bourses today with the BSE realty sector stocks rising by 2.90 per cent ahead of second quarter monetary policy review by the Reserve Bank of India,and amid strong corporate earnings.

With the upbeat mood in realty sector stocks,the 13-share BSE realty index was the third top performer among the sectoral indices,rising by 105.51 points,or 2.90 per cent to 3,740.63. It shuttled between 3,653.32 and 3,748.06 points during the session.

Analysts said sentiment remained bullish on the back of encouraging earnings by developers for the second quarter,shrugging-off fears that the RBI may hike short-term lending and borrowing rates in its monetary policy tomorrow.

DLF Ltd,the country’s largest realty developer,closed 3.10 per cent higher at Rs 360.95 after moving between Rs 353.60 and Rs 362.50. During the session,over 2.41 lakh shares of the company changed hands on the BSE.

Unitech also settled 3 per cent higher at Rs 89.20 after touching the day’s high of Rs 89.70 on the bourse,while HDIL gained 2.71 per cent to Rs 253.95.

Further,Ackruti City surged 4.22 per cent to Rs 493.80; Sobha Developers by 1.83 per cent to Rs 366.30; Indiabull Real Estate by 4.20 per cent to Rs 199.70; Orbit Corp by 1.98 per cent to Rs 118.35; Parsvnath by 3.83 per cent to Rs 69.05 and DB Realty by 2.85 per cent to Rs 430.75.

Advertising

Meanwhile,the BSE-30 share benchmark Sensex ended 323.29 points to 20,355.63 points.