Realty index ends down 5%

The Realty index touched a low of 2,210 and finally ended down over 5% at 2,233. In the process, the index has declined over 6% in the last two trading days.

DLF slumped over 5% to Rs 228. Jaiprakash Associates shed 4.5% at Rs 136.

Unitech and Orbit Corporation tumbled 8% each.

Ansal Infrastructure, Parsvnath Developers, Omaxe, Anant Raj Industries, HDIL, Akruti City, Sobha Developers, Mahindra Lifespace Developers and Indiabulls Realty declined 2-5% each.

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(Updated at 1346 hrs)

Realty stocks are witnessing selling for the second day in a row. The BSE Realty index has plunged over 5.5% to 2,225, and is now down 6.6% in the last two days.

However, the index had surged over 58% in April to 6 May period wherein it recorded a high of 2,472.

Unitech has plunged over 8.6% to Rs 48. Orbit Corporation has tumbled 8% to Rs 85. Ansal Infrastructure has slumped around 6% to Rs 33.

DLF and Mahindra Lifespace have declined around 5% each to Rs 228 and Rs 174, respectively.

Parsvnath, Indiabulls Realestate, Omaxe, HDIL and Akruti City have also dropped around 4% each.

Peninsula Land, however, has bucked the trend and gained over 3% at Rs 43.