Sensex Edges Lower; Realty Stocks Up On Land Acquisition Law

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, December 30, 2014, 9:40 [IST]

The Sensex and the Nifty edged lower in trade with the Nifty losing 12 points in trade while the Sensex was down 42 points in trade as global cues were weak.

Realty stocks, however, rallied in trade after the government made it easy for acuqistion of land through an ordinance for Land Acquisition Law.
Godrej Properties was up a huge 13 per cent in trade, while other real estate stocks like Sobha Developers, Phoenix Mills were the other gainers from the sector.

Banking sector shares were weak in trade with private sector lenders like ICICI Bank, HDFC Bank were down in trade. PSU banking stocks were also weak in trade with stocks like Syndicate Bank, Allahabad bank and Punjab National Bank among the losses.

Shares in BPCL continued to gain ground after crude prices fell sharply. Tech stocks were having a good session in trade after the rupee continued to weaken. Infosys and TCS were up in trade.

Meanwhile, markets across Asia were trading lower as political worries over Greece re-surfaced.

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