India's Nifty Realty index set for worst session since June

The Phoenix Mills

13/01/2025 08:12

** Shares of India's Nifty Realty index  .NIFTYREAL  fall
5.4%, set for biggest daily pct decline since early-June 
    ** Sub-index top pct loser among all 13 sectors retreating
on the day; benchmark Nifty 50  .NSEI  down 1%  .BO 
    ** All 10 members of NIFTYREAL decline, heaviest stock DLF
 DLF.NS  slips 4.3%
    ** Mall operator Phoenix Mills  PHOE.NS  leading losses
among constituents with 8% drop; Godrej Properties'  GODR.NS 
3.9% dip is the least among index peers
    ** Relative strength index of NIFTYREAL at 21.35, a reading
below 30 indicates that index may be in oversold zone 
    ** Sub-index, on Friday, had slipped into oversold territory
for the first time since early-Aug
    ** Oct-Dec period second consecutive qtr in which apartment
sales, launches declined, data from PropEquity, Anarock shows
    ** In Q3FY25, total new launches and sales dropped 33% and
21% y/y, per data from real estate analytics firm PropEquity   
    ** NIFTYREAL gained 34% in 2024, tapering off from its 81%
surge logged in 2023 

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