Realty stocks today proved the worst performers and ended over 3 per cent down on the BSE following a major sell-off by funds, triggered by fluid political situation in the wake of 2G spectrum row and news of conflict from South Korea.
Besides, emergence of profit-booking after yesterday's gains and off-loading of positions ahead of monthly expiry on Thursday in the derivatives segment too weighed heavy on the realty stocks.
The 13-share Bombay Stock Exchange realty index suffered the most among sectoral indices by losing 105.54 points, or 3.26 per cent to close at 3,131.70 points.
Meanwhile, the BSE 30-share benchmark Sensex lost 265.75 points, or 1.33 per cent, to close at 19,691.84 after touching an intra-day low of 19,342.69 by recording single session's steepest fall of nearly 615 points.
Analysts said trading sentiment dampened following a mounting tension on the Korean border after North Korea attacked South Korea. Moreover, the domestic political worries over the 2G spectrum allocation scam added to the woes.
DLF Ltd, the country's largest realty developer, closed 1.12 per cent lower at Rs 314.80 after dipping to Rs 305.05, with over 9.977 lakh shares changing hands on the BSE.
Unitech Ltd, which also has a telecom joint venture with Norway's Telenor, came under selling pressure and lost 4.16 per cent to Rs 86.85 amid concerns that the company may be probed as a part of the 2G spectrum allocation scam. During the session, its nearly 47.81 lakh shares changed hands.
Sobha Developers plunged 3.53 per cent to Rs 304.85, while HDIL slipped 5.42 per cent to close at Rs 217.95.
Other major losers include Indiabull Real Estate which lost 5.18 per cent to Rs 170.20, DB Realty 8.19 per cent to Rs 312, Ackruti City 2.07 per cent to Rs 442, Anantraj Industries 2.33 per cent to Rs 123.60, Orbit Corp 4.54 per cent to Rs 94.65 and Sunteck Realty 3.15 per cent to Rs 650.
