India's Nifty Realty falls for fourth straight session

Lodha Developers

12/03/2024 10:18

** Shares of India's Nifty Realty index  .NIFTYREAL  closed
3.7% lower, losing for the fourth consecutive session 
    ** All constituent stocks except Phoenix Mills  PHOE.NS 
ended in red; PHOE closed up 3.7%
    ** Top losers on the index: Swan Energy  SWAN.NS  and DLF
 DLF.NS  
    ** Index heavyweight DLF, with near 30% weightage, shed 5%;
posting its fourth straight session of losses  
    ** Macrotech Properties  MACE.NS  slid 5.1%, Godrej
Properties  GODR.NS  dropped 4.2% 
    ** Losses in realty stocks can be attributed to general
market correction - Ambit analyst Karan Khanna
    ** Expect continued market share gains for developers to
drive future gains in real estate stocks, Khanna adds 
    ** YTD Nifty Realty has risen 11.5% after an 81% surge in
2023

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))