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Real estate stocks faced intensive sales on 14 February, falling down the Nifty Realty Index nearly 2%
Real estate stock
Real Estate Stock Fall: Real estate stocks faced intensive sales on 14 February, falling down about 2% by the Nifty Realty Index by 12:26 pm.
Major loser in the area
Phoenix Mills led the disadvantage, falling 3.3% and close to its 52-week level. Raymond and Godrej properties also saw significant decline, both of them recorded a decline of more than 3%. Raymond shares were trading around Rs 1,373, while Godrej Properties shares were Rs 1,962, marking 32% decline in the last six months, at the bottom of their 52-week.
Other realty stock slides
Oberoi Realty, Mahindra Lifespace Developers, and Sobha experienced a sharp decline of more than 2%. Prestige Estates and DLF also saw a loss of more than 1%, in which the decline of DLF specifically contributed to the overall Nifty realty drop due to significant weightage in the index.
Brigade Enterprises and Lodha (Macrotech Developers) suffered minor losses, which also trade in red.
Market-wide sales and factors behind it
The decline of the real estate sector was part of a broad market celloff, with more than 500 points at the senses 75,603 and the Nifty from 196 points to 22,836, as all the sectoral index became negative.
The market recession was influenced by concerns over the proposals of US President Trump, which was on the proposal to implement mutual tariffs on business deficit countries with ongoing foreign capital outflows. Additionally, weak third quarter earnings contributed to the spirit of the overall negative market.
