Nifty Realty index hits 20-mth high; Prestige Estates, Oberoi Realty up 6%

Sentiment was buoyed after the 23rd Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index Q42019 survey showed that the sentiment of the stakeholders in India have revived to the optimistic zone

Buyers flocked counters of real estate companies on Wednesday, with Nifty Realty index hitting a 20-month high, on expectations of strong earnings in the second half of the financial year 2019-20.

Among key gainers, Prestige Estates Projects and Oberoi Realty zoomed 6 per cent each on the National Stock Exchange (NSE). Besides, Indiabulls Real Estate, Brigade Enterprises, Sobha, Kolte-Patil Developers, Godrej Properties and DLF were up in the range of 1 to 5 per cent.

At 10:13 am, Nifty Realty index was trading as the sole gainer among sectoral indices, and was up 1.6 per cent at 322 points. In comparison, the