With the domestic bourses taking cues from global markets, the realty stocks on Wednesday dipped 3.70% as bearish sentiments gripped the market.
The realty index opened at 2,720.59 points and touched an intra-day low of 2,701 points in the first few minutes of trade. It was later quoting at 2,716.17 points, down 3.16%. Led by Indiabulls Real Estate, which plunged by over 11%, sto cks of all major realty firms fell in the range of 3% to 11% in the morning trade on the BSE.
Indiabulls Real Estate touched an intra-day low of Rs 108.70, down 11.63%. Marketmen said that weak sentiments have gripped the market as a whole, which is pulling down all the sectors and realty is no exception to that.
Shares of the country’s largest realty major DLF, whose share buyback would commence from October 17, on Wednesday dipped 3.09% to touch an intra-day low of Rs 301. It was later trading at Rs 306.20, down 1.42%. Over 1.38 lakh shares got traded in the market.