BSE Realty index hits 11-year high, posts biggest single-day gain in 4 yrs

Spurt in sales, improved outlook buoys shares of most realty firms

The BSE Realty Index, a gauge for the performance of real estate stocks, hit a 11-year high on Wednesday. The gauge posted its biggest single day gain in over four years as a spurt in property registrations and low home loan rates triggered hopes of demand revival for the sector.

Adding to Tuesday’s 3.5 per cent gain, the 10-share BSE Realty index rose 8.4 per cent to end at 3,621, a level last seen in November 2010. While, the 8.4 per cent jump was the most since April 17, 2017 when the index had risen 8.9 per cent.

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