Stock market update: Realty stocks fall up to 4%; IB Real Estate, DLF among top losers

NEW DELHI: Most realty stocks were incurring losses in afternoon trade on Wednesday.

The Nifty Realty index was trading 1.26 per cent down at 258 around 01:05 pm, with Brigade Enterprises (up 1.07 per cent) as the lone gainer.

Housing Development & Infrastructure (HDIL) (down 3.60 per cent) was the top loser in the index, followed by Godrej Properties (down 2.81 per cent) and Phoenix Mills (down 2.03 per cent).

Shares of Indiabulls Real Estate (down 1.80 per cent), Prestige Estates Projects (down 1.53 per cent), Sobha (down 1.42 per cent), DLF (down 0.94 per cent) and Oberoi Realty (down 0.21 per cent) declined in that order.

Equity benchmarks Sensex and Nifty erased all gains on losses in select bluechip counters, including HDFC twins, Maruti, IndusInd Bank and Reliance Industries.

Benchmark NSE Nifty50 index was down 11 points at 11,267, while the BSE Sensex was 31 points down at 37,260.

Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red.

Coal India, BPCL, GAIL (India), Tata Steel and Hero MotoCorp were among the top gainers in the Nifty index.

Zee Entertainment Enterprises, Bajaj Finance, Bajaj Finserv, Lupin and Titan Company were among the top losers in the Nifty pack of stocks.