Realty stocks crack 20% on Tuesday
Realty stocks fell about 20% in Tuesday’s trade after reports emerged that the banks, in consultation with the RBI, have decided not to extend loans to projects not registered under the act.
Nifty Realty index cracked over 4 per cent on Tuesday to touch the intraday low of 271, with shares of Housing Development and Infrastructure (down 20.65 per cent), Unitech (down 10.23 per cent), DLF (down 6.51 per cent), Indiabulls Real Estate (down 3.96 per cent) and delta Corp (down 3.84 per cent) as the biggest losers.
The index closed Tuesday’s session at 272, down 4.40 per cent. Out of total 10, only two components—The Phoenix Mills (up 3.21 per cent) and Godrej Properties (up 0.42 per cent) — closed in green.
On Tuesday, NSE benchmark Nifty50 index ended 0.78 per cent lower at 9,978, while the 30-share Sensex settled 0.80 per cent down at 32,014.