Realty index slips 6%; DLF, Oberoi Realty, Godrej Properties down up to 8%

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

Shares of real estate companies were under pressure in trade on Friday, with the S&P BSE Realty index slipping nearly 6 per cent. The new virus variant added to concerns about growth and interest rates going forward.

At 11:04 am; the S&P BSE Realty, the top loser among sectoral indices, was down 5.5 per cent, as compared to 2.3 per cent fall in the S&P BSE Sensex. With Friday’s fall, the realty index has plunged 13 per cent from its 52-week high level of 4,464 touched on November 9, 2021.

Among individual stocks, DLF, Phoneix, Oberoi Realty, Indiabulls