The real estate sector witnessed a notable decline today, with the BSE Realty Index taking a hit of 20.12 points, marking a 0.25% drop to settle at 8169.91 by 13:42 IST. This downturn in the realty sector reflects the broader volatility in the market, even as other indices displayed more positive momentum.
Among the key players in the BSE Realty Index, Macrotech Developers Ltd led the downturn with a 1.15% drop. This was closely followed by DLF Ltd, which saw a decline of 1.07%, and Godrej Properties Ltd, which registered a 0.96% fall. Sunteck Realty Ltd and Brigade Enterprises Ltd also contributed to the downward trend, losing 0.51% and 0.43% respectively. Additionally, Mahindra Lifespace Developers Ltd shed 0.38%, Oberoi Realty Ltd slipped by 0.2%, and Sobha Ltd witnessed a marginal decline of 0.17%.
It wasn’t all gloom in the real estate sector. Phoenix Mills Ltd bucked the trend, posting a gain of 1.8%, while Prestige Estates Projects Ltd managed to climb 1.42%. These gains, though notable, were insufficient to offset the losses faced by the majority of the index constituents, leading to an overall negative performance for the sector. The broader market also exhibited mixed signals. The BSE SmallCap index displayed strong resilience, rising by 626.82 points, or 1.16%, to reach 54483.91.
Meanwhile, the BSE MidCap 150 index edged up by 39.18 points, or 0.24%, to close at 16348.54, indicating selective buying interest in mid-sized companies. The benchmark indices reflected a more muted performance. The Nifty 50 index saw a modest increase of 19.35 points, or 0.08%, bringing it to 24560.5. Conversely, the BSE Sensex index recorded a slight decline of 47.45 points, or 0.06%, to settle at 80389.39. Market breadth, however, remained positive with 2717 shares advancing, 1260 shares declining, and 150 remaining unchanged on the BSE. This indicates a generally optimistic sentiment among investors, albeit tempered by caution in the real estate sector.
