Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%
In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.
Investors are likely to remain positive after
Shares of real estate companies were in focus on Friday with the Nifty Realty index gaining 3 per cent backed by a strong rally in frontline stocks on expectation that the Federal Reserve will pause rate hikes.
DLF, Prestige Estates Projects, Macrotech Developers (Lodha) and Sobha rallied between 4 per cent and 5 per cent on the National Stock Exchange (NSE). At 02:34 PM; Nifty Realty index was the top gainer among sectoral indices, up 3 per cent, as compared to 0.52 per cent gain on the Nifty 50.
Investors are likely to remain positive after a consortium of US private banks announced a rescue package for First Republic Bank and on hopes the Fed will continue slowing the pace of interest rate hikes after ECB hiked interest rates by 50 bps on expected lines.
Among the individual stocks, DLF has surged 5 per cent to Rs 377.50, soaring 9 per cent in past two trading days after the company on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days, reflecting a strong demand for premium flats across major cities.
 "Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%")
