Nifty Realty index zooms 8.5%; DLF, Godrej Properties surge 10% each

Indiabulls Real Estate, Sobha, Prestige Estates, Oberoi Realty, Sunteck Realty, Mahindra Lifespace and Macrotech Developers were up between 4 - 8 per cent on expectations of strong demand this festive

Shares of real estate companies were on a roll in trade on Wednesday on expectation of strong demand ahead of festive season, with several lenders already announcing a rate cut. Real-esate major DLF jumped 10 per cent to Rs 363.75, while Godrej Properties hit a new high on rallying 10 per cent to Rs 1,852. Both, stocks trade in the futures & option (F&O) segment, which has no circuit limits.

The Nifty Realty index has zoomed 8.6 per cent to hit a new high of 455.10 on the National Stock Exchange (NSE). In comparison, the Nifty50 index was up