Anand Rathi attributed the slowdown in the real estate sector to weaker hiring and salary growth, particularly in the IT sector, along with subdued capital market performance over the past two years.
At 09:36 AM on Wednesday, the Nifty Realty index was the top sectoral loser, down nearly 1 per cent, as compared to 0.2 per cent rise in the Nifty 50.
Among sectors, Bernstein expects oil marketing companies (OMCs) will likely stand to benefit from reduced crude oil prices that dropped around 4 per cent on Monday to $83 a barrel (bbl)
Nifty Next 50 index hit a 52-week high of 73,098.9, surging 4% on the National Stock Exchange in Monday's intra-day, and has soared 7% in the past two trading days.
In last two financial years, retail investors increased holding in 118 Nifty 500 stocks where FIIs cut stake; of these 65 stocks trade below March 2024 levels amid tepid market mood, shows data.
Virat Jagad, technical analyst at Bonanza believes that DLF, Sobha and Lodha are precariously placed on the charts, wherein a breach of key supports could make them vulnerable to further downside.
Stocks to watch today: Airtel, Tata Motors, Voltas, IRFC, DLF, Jio Financial Services, HAL, HUDCO, Oil India, among others, will remain in focus today.
Realty major reports weaker quarterly income even as annual sales bookings remained strong, led by luxury housing projects in Gurugram and Mumbai
Sobha, Godrej Properties, Phoenix, Anant Raj, Lodha Developers, Oberoi Realty and Aditya Birla Real Estate were up between 3 per cent and 4 per cent on the NSE in Tuesday's intra-day trade.
Bank, realty, auto and financial services stocks surged up to 10 per cent after the Reserve Bank of India (RBI) maintained status quo