India's Nifty Realty index rallies to record high

Swan

14/12/2023 08:02

** India's Nifty Realty  .NIFTYREAL  index rises as much as
3.5% to hit a record high
    ** NIFTYREAL up ~78% YTD, rising most among major Nifty
indices; benchmark Nifty 50  .NSEI  is up ~17% YTD
    ** Homes worth 3.49 trillion rupees ($41.88 billion) sold
across top 7 Indian cities in first 9 months of 2023 – 7% higher
than 2022, according to property consultants Anarock Group
    ** Jump in housing sales value due to increased demand for
premium luxury homes this year - Anarock
    ** NIFTYREAL on track to rise for seventh straight week and
third consecutive quarter
    ** Godrej Properties  GODR.NS , Swan Energy  SWAN.NS ,
Brigade Enterprises  BRIG.NS  are among top pct gainers in index
rising 5%-6.5%
    ** Index above 50-day, 100-day, and 200-day simple moving
avgs since Oct. 27, indicating bullish sentiment - LSEG data
    ** Moving Average Convergence Divergence (MACD) line above
signal line, suggesting bullish bias



($1 = 83.3250 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))