Business Standard

Realty shares tumble

Capital Market  |  Mumbai 

  • ALSO READ

    Monnet Ispat vaults as board to consider share buyback

    KFA sails against the tide on buzz Sahara offers Rs 250 crore loan

    R Systems International extends rally on proposal to divest non-core businesses

    SBI hits 52-week low on lower advance tax payment

    NTPC drops on lower advance tax payment

Anant Raj Industries (down 10.61%), Prestige Estates (down 9.80%), (down 7.12%), (down 4.72%), Unitech (down 4.60%), D B Realty (down 4.32%), (down 3.65%), (down 2.71%), Godrej Properties (down 2.69%), (down 2.32%), (down 2.29%), (down 1.77%), (down 1.53%) and Oberoi Realty (down 0.97%), edged lower.

The Realty index was down 4.01% to 1,389.41. It underperformed the Sensex, which was down 1.40% at 15,274.40.

The BSE Realty index had underperformed the market over the past one month until 16 December 2011, falling 13.49% compared with the Sensex's 7.66% decline. The index had also underperformed the market in past one quarter, sliding 19.67% as against 8.52% fall in the Sensex.

High interest rates keep realty sales growth under pressure as purchases of both residential and commercial property are largely driven by finance.

At its mid-quarterly monetary policy review meet on Friday, 16 December 2011, the Reserve (RBI) left its main lending rate unchanged. The central bank also refrained from cutting the cash reserve ratio (CRR) despite tight liquidity in the system. The repo rate was left steady at 8.5% after increasing it 13 times since March 2010. The bank rate also remains static at 6%. The central bank kept its end-March 2012 inflation forecast unchanged at 7%.

Powered by Capital Market - Live News

 

Realty shares tumble

Anant Raj Industries (down 10.61%), Prestige Estates (down 9.80%), Indiabulls Real Estate (down 7.12%), DLF (down 4.72%), Unitech (down 4.60%), D B Realty (down 4.32%), Sobha Developers (down 3.65%), Parsvnath Developers (down 2.71%), Godrej Properties (down 2.69%), HDIL (down 2.32%), Peninsula Land (down 2.29%), Sunteck Realty (down 1.77%), Phoenix Mills (down 1.53%) and Oberoi Realty (down 0.97%), edged lower.

Anant Raj Industries (down 10.61%), Prestige Estates (down 9.80%), (down 7.12%), (down 4.72%), Unitech (down 4.60%), D B Realty (down 4.32%), (down 3.65%), (down 2.71%), Godrej Properties (down 2.69%), (down 2.32%), (down 2.29%), (down 1.77%), (down 1.53%) and Oberoi Realty (down 0.97%), edged lower.

The Realty index was down 4.01% to 1,389.41. It underperformed the Sensex, which was down 1.40% at 15,274.40.

The BSE Realty index had underperformed the market over the past one month until 16 December 2011, falling 13.49% compared with the Sensex's 7.66% decline. The index had also underperformed the market in past one quarter, sliding 19.67% as against 8.52% fall in the Sensex.

High interest rates keep realty sales growth under pressure as purchases of both residential and commercial property are largely driven by finance.

At its mid-quarterly monetary policy review meet on Friday, 16 December 2011, the Reserve (RBI) left its main lending rate unchanged. The central bank also refrained from cutting the cash reserve ratio (CRR) despite tight liquidity in the system. The repo rate was left steady at 8.5% after increasing it 13 times since March 2010. The bank rate also remains static at 6%. The central bank kept its end-March 2012 inflation forecast unchanged at 7%.

Powered by Capital Market - Live News

 
image