Market Now: Nifty Realty index turns green; HDIL, DLF top gainers

NEW DELHI: Shares of Housing Development & Infrastructure (up 4.26 per cent), Prestige Estates Projects (up 2.16 per cent), DLF (up 1.34 per cent), Oberoi Realty (up 1 per cent) and Delta Corp (up 0.74 per cent) helped Nifty Realty index turn green in Wednesday's afternoon session.

The index was trading in the negative zone in Wednesday's morning session and pared nearly 3 per cent to hit the intraday low of 265.

However, it gained over 1 per cent in the afternoon session to hit the intraday high of 276 in trade so far.

The Nifty Realty was trading 0.62 per cent up at 274.1 around 12:47 pm (IST).

However, Unitech (down 1.86 per cent), Indiabulls Real Estate (down 1.06 per cent), Godrej Properties (down 0.60 per cent) and Sobha (down 0.59 per cent) were still losing in trade.

Realty stocks had plunged up to 20 per cent on Tuesday over banks' decision to stop extending loans to projects not registered under Real Estate Regulation Act (RERA).

Notably, RERA has seen sluggish implementation as 11 states are yet to notify final rules and only 7 states have a functional website and 4 have permanent regulators.

Besides realty, Nifty IT index also saw some recovery, with shares of Just Dial (up 1.20 per cent), Infosys (up 0.90 per cent), Tata Consultancy Services (up 0.24 per cent) and Wipro (0.21 per cent) gaining during the afternoon session.

The benchmark indices remained depressed with 7 out of total 11 sectoral indices on NSE still in red.

Benchmark Nifty50 index was 41 points down at 9,938, while the 30-share Sensex was 135 points lower at 31,879 around 12.47 pm (IST).

In the Nifty50 pack, 17 stocks were trading in green, while 34 stocks were in red.

On BSE, 680 stocks were advancing whereas 1,706 stocks were lagging.

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