Realty index slips 3.7%

With the domestic bourses taking cues from global markets, the realty stocks on Wednesday dipped 3.70% as bearish sentiments gripped the market.

The realty index opened at 2,720.59 points and touched an intra-day low of 2,701 points in the first few minutes of trade. It was later quoting at 2,716.17 points, down 3.16%. Led by Indiabulls Real Estate, which plunged by over 11%, sto cks of all major realty firms fell in the range of 3% to 11% in the morning trade on the BSE.

Indiabulls Real Estate touched an intra-day low of Rs 108.70, down 11.63%. Marketmen said that weak sentiments have gripped the market as a whole, which is pulling down all the sectors and realty is no exception to that.

Shares of the country’s largest realty major DLF, whose share buyback would commence from October 17, on Wednesday dipped 3.09% to touch an intra-day low of Rs 301. It was later trading at Rs 306.20, down 1.42%. Over 1.38 lakh shares got traded in the market.

2 Comments

  1. Posted October 15, 2008 at 4:24 am | Permalink

    Want to invest in real estate? Has the recent crisis put you off? Don’t worry, the sector is still swinging. Real estate will always be in demand, and now there are more ways than one to make it pay.Your elders always drilled it into you that you’ve got it made when you can buy or build your own home. This is one injunction kids all over the world are given, regardless of culture. The solidity that a piece of land gives is a great comfort. Despite the jitters the market gave you after the ‘sub-prime contagion,’ real estate is still hot. All the world’s a village now, and if you would rather avoid U.S. real estate for whatever reason, invest in international real estate, by all means. Do it through real estate stocks.The first way to do this is invest in property development companies. These guys issue IPOs, and then are traded on the secondary market. You can pick them up from either place.The second way is through Exchange Traded Funds or ETFs.If your country has recognized real estate investment trusts (REITs), these are safer than either of the previous two options. Real estate stocks are not exactly property, but give you market beating returns that are real enough. Do you agree? What have you invested in?For more view- realtydigest.blogspot.com

  2. Posted October 16, 2008 at 3:16 am | Permalink

    Leading real estate players are optimistic about the RBI’s move to cut CRR and believe that this will help the flow of funds in the realty sector, enabling faster execution of projects. The CRR cut can also influence the boost of the realty market, provided there is a decrease in interest loans.

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