Going forward, the ability of developers to show growth on a high base of FY22 sales, and management of a weak macroeconomic environment along with rising interest rates would be the key monitorables
REIT listing and valuations are triggers, but rising interest rates is a concern: Analysts.
The technical analyst from HDFC Securities sees the next major support for the Nifty at 15,700-level.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
At 10:40 am; barring the Nifty PSU index which gained nearly a per cent, most of the other sectoral indices such as Nifty Bank, Financial Services, Auto and Realty were more or less unmoved.
A large part of the rise in the fortunes of these realty barons is attributed to a rally in the real estate stocks at the bourses. For the year under review, the BSE Realty index gained 55 per cent
Realtor lines up plotted development in OMR, premium high-rise in Central Chennai and another project in Sriperumbudur
40 per cent correction in Godrej Property should see a smart 11 per cent jump now, technical charts suggest
Residential demand remains strong, commercial portfolio may lag in near term
Adani Ports, Indian Hotels and Tech Mahindra are some of the prominent companies to announce results today.
Company says it clocked record new sales in the quarter amounting to Rs 2,018 crore, reflecting a YoY growth of 97 per cent
DLF said it has clocked sales worth approximately Rs 1500 crore for towers in the first phase of the newly launched luxury residential project, ONE Midtown in West Delhi
The Nifty Realty index can rally towards 525-level.
Inverse Head and Shoulder in HDFC Bank may incline market participants to add the stock to their portfolio
Despite the over 10 per cent correction from its 52-week high, the BSE Realty index has outperformed the market by surging 57 per cent thus far in the calendar year 2021