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India shares hit record high as rally gathers steam
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Mumbai-Based Real Estate Stocks Soar As Property Registration Hits Decade-High
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Dalal Street Week Ahead: Don’t take a breakout for granted; stick to steady stocks and sectors
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Dalal Street Week Ahead: Don’t take a breakout for granted; stick to steady stocks and sectorsBy
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Synopsis
The week saw Nifty move in a trading range of 317 points, oscillating in a zone that was similar to the trading ranges seen over the past few weeks. Broadly speaking, the index spent the week consolidating as it awaited a clean and clear breakout.
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The Nifty Realty Index has seen a strong rotation inside the improving quadrant hinting at a likely end to its relative underperformance against the broader market.
“Godrej Properties, Indiabulls Real Estate, DLF, and Sobha look strong on daily, weekly, and monthly time frames for an upside of 10-15% in the near term,” said Taparia.
Top real estate stocks such as DLF, Godrej Properties, Oberoi Realty, Macrotech Developers and Sunteck Realty have rallied between 8% and 20% since July 1 compared to a tepid Nifty.
Real estate stocks have been underperformers in recent years as the sector has been plagued by falling demand, unaffordability and high debt. Since January 1, 2018, the Nifty Realty index rose 10% compared to the 51% return in the Nifty index.
Money managers say the sector is in the process of revival due to weaker prices and record-low interest rates. Organised large developers would benefit the most.
ET Markets RadioTune in now for Markets news, views & cues
ETMarkets Morning Podcast (ETMarkets.com)
04:42 Min | July 13, 2021, 8:45 AM IST
Tune in as we tell you what s happening in the market, what s making news this morning, and look at some of the buzzing stocks.
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Transcript
Hi there, Good Morning. Welcome to ETMarkets Morning podcast, the show about money, business and markets. I am Sabari Saran. Let s start with the headlines first
RBI allows retail direct gilt accounts
Stage set for the country’s biggest LIC IPO
Realty stocks look set for a solid run-up
CEAT set to enter a fast lane
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