Realty index regain gain momentum


Bangalore: With hectic buying by stockists and speculators fuelled by global trend, Realty index emerged as the top gainer with a gain of 104.36 points or 3.26 per cent. Other indices, which followed Realty index in gainers list were consumer durable 112.75 points or 2.70 percent and metal by 320.74 points or 1.79 percent. IT index declined sharply by 159.41 points, or 2.89 per cent. The stocks which took these sectors to the top were HDFC, up 6.57 percent, DLF 5.38 percent, Sterlite Ind 4.39 percent, Tata Motor 3.50 percent, Hindalco 3.14 percent, NTPC 2.77 percent, BHEL 2.55 percent, Jaiprakash Associates 2.09 percent, Sun Pharma 2.01 percent and Reliance Com 1.91 percent and State Bank Of India rose 1.49 percent. However, IT companies could not perform well. Infosys dropped 3.82 percent followed TCS, which slipped 2.15 percent. In the last week buying was witnessed mainly in capital goods, consumer durables, metal and realty stocks, while IT companies suffered sharp losses following higher rupee values which touched an 18-month high against the dollar. Foreign funds made heavy purchases in the last month. Foreign institutional investors (FIIs) bought stocks worth more than Rs 19,000 crore in March 2010. As on April 13, 2010, the market value of realty index was 117,051.11 crores. In the last one year, the stock managed to gain 1,383.44 points or 65.08 percent, which is higher than most on the indices.