Realty stocks outperform broader mkt, DB Realty up 12%

MUMBAI: Bucking the weak broader market trend today, the Bombay Stock Exchange real estate sector index surged over 2 per cent - led by a 12 per cent jump in DB Realty - in a fresh spell of buying after recent sell-offs.

Shares of DB Realty settled 11.90 per cent higher at Rs 85.60, after rising over 17 per cent in intra-day trade on the BSE. Similarly, Unitech ended the day at Rs 36.55, up 4.43 per cent from its previous close.

Buying was strong in other realty stocks as well, with HDIL spurting by 3.01 per cent, Orbit Corporation (3.39 pc), Phoenix Mills (3.67 pc), Sobha Developers (2.08 pc) and Sunteck Realty (1.35 pc).

DLF, which ended with 1.22 per cent gain at Rs 236.85 was the top performer among the 30 blue-chips in the BSE benchmark Sensex list.

Led by gains in these stocks, the BSE-Realty settled the day 2.08 per cent higher at 2,228.87.

Marketmen said that realty stocks attracted bargain buying after the recent fall.

Meanwhile, both benchmark indices, the Sensex and the Nifty, ended the day with losses. Sensex ended the day at 18,858.04, a fall of 220.26 points, or 1.15 per cent.

The NSE 50-issue Nifty reacted downwards by 68.30 points, or 1.19 per cent to 5,660.65.