The index comprises 40 Asian realty companies listed in terms of market capitalisation, an S&P release said on Monday. From a 52-week high of 13,848.09 on January 8, the BSE Realty Index slumped 51.4 per cent to close at 6728.13 on Monday.
On the weak prospects of domestic realty sector, global consultancy firm JPMorgan said in a report in April that this year could be tough for Indian property developers.
A tight monetary policy, coupled with funding constraints and worsening fundamentals, especially in the residential market, are beginning to hurt. Execution too seems to be slipping, thus making it difficult for companies to maintain growth."
Among the top 10 companies in S&P's realty index, six are Chinese, three Japanese and one from Singapore.
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