Realty shares jump on bargain hunting

Eleven realty shares rose by 0.67% to 6.84% at 13:34 IST on BSE on bargain hunting after recent sell off in realty shares.

Parsvnath Developers (up 6.84%), DLF (up 3.79%), Unitech (up 2.99%), Housing Development and Infrastructure (HDIL) (up 2.77%), Indiabulls Real Estate (up 2.05%), D B Realty (up 1.74%), Peninsula Land (up 1.50%), Anant Raj (up 1.27%), Godrej Properties (up 0.79%), Prestige Estates (up 0.61%) and Oberoi Realty (up 0.67%), edged higher. Sobha, however, fell 1.77%.

The S&P BSE Realty index was up 1.73% at 1,539.94. It outperformed the Sensex, which was up 1.06% at 27,194.70.

The S&P BSE Realty index fell 3.92% in the preceding two trading sessions to 1,513.72 yesterday, 7 January 2015, from a recent high of 1,575.41 on Monday, 5 January 2015.

The index had underperformed the market over the past one month till 7 January 2015, falling 11.67% compared with 5.44% fall in the Sensex. The index had also underperformed the market in past one quarter, falling 2.43% as against Sensex's 2.42% rise.

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