Realty shares mixed; Indiabulls Real Estate dips 3%

Realty shares were trading on a mixed note in Thursday's morning

Shares of Phoenix MillsNSE -1.89 % (up 1.3 per cent), Brigade EnterprisesNSE 4.27 % (up 0.92 per cent), Godrej Properties (up 0.23 per cent) and Prestige Estates Projects (up 0.19 per cent) were among the top gainers.

While Indiabulls Real Estate (down 3.63 per cent), Oberoi Realty (down 1.32 per cent), Sunteck Realty (down 0.61 per cent), Mahindra Lifespace Developers (down 0.48 per cent), DLF (down 0.46 per cent) and SOBHA (down 0.35 per cent) were the top losers in the index. The Nifty Realty index was trading 0.33 per cent down at 327.4 around 10:06 am. Benchmark NSE Nifty50 index was down 53.60 points at 12075.9 , while the BSE Sensex was down 181.68 points at 41,016.98. Among the 50 stocks in the Nifty index, 17 were trading in the green, while 33 were in the red.

Shares of Vodafone Idea, YES Bank, Tata Motors, SAIL, Bharti Airtel, United Spirits, SBI, ICICI Bank, Bank of Baroda and Indian Oil Corp were among the most traded shares on the NSE.

Comments Section

  • - Mazhar Mohammad, Chartviewindia 04/01/2020Reply

    Intraday traders can look to go long if Nifty sustains above the 12,300 level for more than 30 minutes on Friday and look for a target of 12,390. Contrary to this, a strong close below 12,168 level may lead to weakness in Nifty

    • - Gaurav Ratnaparkhi, Sharekhan 04/01/2020Reply

      Nifty is now a stone’s throw away from its all-time high of 12,293. Structurally, it has climbed towards the upper end of the consolidation range i.e. 12,300. Once the 12,300 level taken out, it will march towards 12,350 and subsequently to 12,400, which is near the rising trendline and daily upper Bollinger Band. The 12,220-12,200 zone will act as immediate support

  • - Ashwin Patil, Senior Research Analyst 04/01/2020Reply

    Among two-wheelers, we prefer Hero MotoCorp as it is a proxy to the economy and rural growth, and an expected good Rabi crop output will drive sales in rural India (55% of volumes). We also like Bajaj Auto, which is now finding good traction in exports markets. On the PVs, we still like Maruti as it is a market leader in PV segment and has a wide array of models in all the segments. Its strength in the rural markets is also its positive. We also like M&M, as robust Rabi crop output and increased MSPs will trigger UVs as well as FES growth. Within the CV space we like Ashok Leyland which is away from any global headwinds. Any news on scrappage policy may lead to a sudden spur in CV stocks

    • - Chandan Taparia 04/01/2020Reply

      Nifty has been consolidating between 12,118 and 12,293 levels since last 11 sessions and now a decisive range breakout with followup action can drive the fresh leg of rally. The index has to continue to hold above 12,250 level to witness an up-move towards the 12,350-12,400 zone, while key support has shifted to 12,150 level

Register with us & Get Exclusive Deals and Offers!