Due to volatility and varied global cues, Nifty Realty stocks were trading in red on Thursday. The NIFTY Realty Index is intended to reflect the performance of real estate companies principally engaged in residential and commercial property building. After agriculture, the real estate industry employs the second-largest number of people in the country.
It accounts for about 6-7 percent of the country's gross domestic product. If this industry is harmed, the country's economic growth will almost certainly be harmed as well.
Indian markets remained flat amid mixed global cues and a continued drop in Covid-19 cases in the country, which is being countered by investor concerns about rising prices.
On Thursday around 11:30 a.m., the Realty Index was trading at 333.35, down 2.10 points or 0.63 percent, after hitting a high of 336.80 and a low of 333.05 during the intraday session.
Oberoi Realty and Indiabulls Real Estate both lost more than 2%, making them the sector's top losers. On the index, Phoenix Mills down 0.86 percent to Rs 798.05 per piece, while Prestige down 1.31 percent to Rs 270.85 per piece. DLF was down 0.34 percent, selling at Rs289.10 per piece. Brigade was also down 0.34 percent.
Sunteck Realty is the leading gainer, up 3.43 percent to Rs281.75 per share, while Hemisphere Properties is up 0.56 percent.