Peninsula Land (up 5.3% at Rs 40.70), Indiabulls Real Estate (up 4.96% to Rs 68.80), Oberoi Realty (up 4.8% at Rs 215), Parsvnath Developers (up 4.54% at Rs 34.55), Unitech (up 4.52% to Rs 21.95), Anant Raj Industries (up 4.25% at Rs 56.40), Housing Development & Infrastructure (up 2.58% at Rs 37.75), DLF (up 2.12% at Rs 190.45), D B Realty (up 1.66% at Rs 70.25) and Godrej Properties (up 1.14% at Rs 556.75), edged higher.
The S&P BSE Realty index was up 49.93 points or 3.21% at 1,607.54. It outperformed the S&P BSE Sensex, which was up 380.89 points or 2.02% at 19,208.05.
The BSE Realty index underperformed the market over the past one month till 13 June 2013, sliding 17.48% compared with the Sensex's 4.39% fall. The index had also underperformed the market in past one quarter, falling 24.49% as against Sensex's 2.77% decline.
Lower interest rates may help revive demand for properties. Purchases of both residential and commercial property are largely driven by finance.
The Central Statistics Office (CSO) today, 14 June 2013, said inflation based on the wholesale price index (WPI) eased further to 4.7% in May 2013 from 4.89% in April 2013. Build up inflation rate in the financial year so far was 0.88% compared to a build up rate of 1.80% in the corresponding period of the previous year. WPI inflation for March 2013 was revised downwards to 5.65% from 5.96% reported earlier.
Core inflation or non-food manufacturing inflation eased further to 41-month low of 2.35% in May 2013, the latest data showed.
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