Realty Index Gains 6%; Brigade, Oberoi Gain Up To 12%

Even as there is seen mild correction on the headline indices, with Nifty holding levels close to 17,100 points, sectorally there is seen weakness in the IT, pharma and metal space. Nonetheless, what has conquered the highest gains sectorally is the Realty index, which towards the close of the session traded higher by over 6 percent.

Realty Index Gains 6%; Brigade, Oberoi Gain Up To 12%

All of the Nifty Realty index constituents traded in the green, with gains extending up to 12% in the case of Brigade Enterprises. Others including the likes of Oberoi Realty also logged gains of over 10%. The remaining 10 stocks were up between 3-7%, and Phoenix and Prestige Hit Fresh 52-week high today.

It was forecasted that after the consolidation phase the space will continue to witness upmove in the near term. Plus the sector is witnessing recovery in demand amid improvement in economy, increase in pace of vaccination. Also the work from home regime has been giving a push to a demand for larger residential spaces. Furthermore, the interest rates at record low is another trigger.