Nifty Realty Under Pressure, Slips 2%

Due to gloomy markets and weak global cues, the Nifty Realty index was heavily sold on Wednesday. In the face of mixed global indications, benchmark indices were down. The BSE midcap and smallcap indices were both down over 1%.

At 11:15 a.m., the Realty Index was trading at 387.60, down 6.70 points or 1.70 percent, after hitting a high of 397.45 and a low of 387.30 during intraday session on Wednesday.

The top losers on the index were Indiabulls Real Estate, down 4.8 percent, Sunteck Realty down 3.33 percent, DLF down 2.91 percent, Phoenix Mills down 2.73 percent, and SOBHA down 2.02 percent.

Throughout the day, the market's attention is on corporate profits while keeping an eye on macro happenings. US markets closed the day lower as investors reacted to quarterly earnings reports from tech giants and the Federal Reserve's decision on monetary policy.

The NIFTY Realty Index is designed to reflect real estate businesses' behaviour and performance. The NIFTY Realty Index can be used to benchmark fund portfolios, create index funds, ETFs, and structured products, among other things.

Realty stocks like Brigade and Godrej property were trading marginally higher.