Real estate stocks deliver rocket returns this week as BSE Realty eclipses sectoral peers with 10% rally
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The realty sector eclipsed its sectoral peers as the BSE Realty index delivered near double-digit weekly gains with significant impetus coming from the Reserve Bank of India’s (RBI’s) 50 bps points repo rate cut on Friday, unleashing the property stocks. The 10-stock index ended the week with 9.7% returns while rising by 5% on Friday. Among the stocks that rallied most, Sobha’s 18% uptick towered over others. Prestige Estates Projects and Brigade Enterprises were up 17%, each. Others like the DLF, Godrej Properties, Macrotech Developers (Lodha), Signatureglobal (India), The Phoenix Mills and Anant Raj closed with weekly gains of 10% and 3%. Live Events Others including BSE Financial Services (1.8%), BSE Metal (1.7%), BSE Auto (1.5%) and BSE Healthcare (1.4%) trailed significantly. The headline index BSE Sensex closed with 1% uptick. Among major laggards were BSE Information Technology and BSE Capital Goods, which were down 0.15% and 0.41%...