09 May , 2025 By : Debdeep Gupta
Realty stocks strongly tumbled on May 9, as investors resorted to profit booking amid rising tensions between India and Pakistan. The sharp fall in the share prices pushed the Nifty Realty index down nearly 3.7 percent to hover around 813.
Nifty Realty index is currently the worst performing sectoral index on the market, extending significant losses for the second consecutive session amid rising geopolitical uncertainties. The index has fallen over 6 percent over these two sessions so far.
DLF shares tumbled nearly 5 percent to trade at Rs 618 apiece, while Macrotech Developers (Lodha) shares fell over 4 percent to trade at Rs 1,236 apiece. Anant Raj and Raymond shares also tumbled nearly 5 percent each to trade at Rs 416 apiece and Rs 1,468 apiece respectively.
Prestige Estates, Godrej Properties and Sobha Realty shares fell over 3 percent, while Phoenix and Brigade Enterprises shares dropped over 2 percent each. Oberoi Realty shares meanwhile were down nearly 1.7 percent.
Indian armed forces conducted targeted military strikes on terrorist outfits across Pakistan under the codename 'Operation Sindoor'. Pakistan retaliated by firing missiles across several locations in India, which were successfully intercepted by the Indian army. What followed was continued cross-border firing overnight.
"Ongoing uncertainty continues to make traders cautious, potentially clouding the prevailing trend amid lingering geopolitical tensions. Until the volatility, as indicated by the elevated India VIX, subsides, we recommend maintaining a hedged strategy to navigate the current environment, with focus on stock selection," said Ajit Mishra, SVP of Research at Religare Broking.
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