Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%

In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

Shares of real estate companies were in focus on Friday with the Nifty Realty index gaining 3 per cent backed by a strong rally in frontline stocks on expectation that the Federal Reserve will pause rate hikes.

DLF, Prestige Estates Projects, Macrotech Developers (Lodha) and Sobha rallied between 4 per cent and 5 per cent on the National Stock Exchange (NSE). At 02:34 PM; Nifty Realty index was the top gainer among sectoral indices, up 3 per cent, as compared to 0.52 per cent gain on the Nifty 50.

Investors are likely to remain positive after a consortium