BSE Realty index hits over 10-year high; Indiabulls Realty soars 14%

Mahindra Lifespace, Suntech Realty, Godrej Properties, Oberoi Realty, Prestige Estate and DLF were up between 3% and 11% on the BSE

Shares of real estate companies were in focus on Monday with the S&P BSE Realty index hitting an over 10-year high on the BSE in the intra-day trade. Signs of demand recovery in residential real estate, analysts say, as unsold inventory declined further in April-June quarter of the financial year 2021-22 (Q2FY22) is improving the outlook of the sector.

At 11:29 am, the S&P BSE Realty index, the top gainer among sectoral indices, was up 3.7 per cent as compared to a 0.49 per cent gain in the S&P BSE Sensex. The realty index hit an intra-day high of