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Realty Index Plummets: Real Estate Faces Downturn
18 Nov
Summary
- Nifty Realty index declined 1.91% to close at 927.3 today.
- The index has seen a 1.00% loss over the past month.
- Realty stocks underperformed the broader market significantly over the last year.
The Nifty Realty index concluded trading today with a substantial decline of 1.91%, settling at 927.3 points. This downturn follows a broader trend, as the index has already shed 1.00% over the last month. Several key real estate companies contributed to the index's fall, with Sobha Ltd dropping 2.90%, DLF Ltd decreasing by 2.36%, and Lodha Developers Ltd losing 2.32% of its value.
Comparing the performance over the past year reveals a stark underperformance of the realty sector. The Nifty Realty index has fallen by 3.00%, while the benchmark Nifty 50 index has surged by an impressive 10.47%. This significant disparity underscores the difficulties faced by real estate investments compared to the broader equity market.
In the wider market context, other indices also experienced declines. The Nifty IT index slid by 1.10%, and the Nifty Metal index dropped by 1.07% today. The broader market sentiment reflected this downward trend, with the Nifty 50 closing 0.40% lower and the SENSEX declining by 0.33%.
