Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
While one of them is on the verge of opening, three others are expected to come up in the next three years.
The picture is becoming bigger for the core sector. Lower margins from infrastructure projects and expectations of a higher yield from real estate projects have seen many a core sector company jumping on the realty bandwagon.
Mumbai has jumped five positions to become the third-most preferred property investment market in Asia Pacific in 2011, according to new survey.
It announced a Rs 4,400-crore (Rs 44-billion) acquisition of the Dhamra port the day election results gave Prime Minister Narendra Modi a superlative win.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
'The CBI suspects A Raja of favouring Swan Telecom, a wing of DB Realty. A chain of firms connected to DB Realty transferred over Rs 200 crore to a television network connected to M Karunanidhi's immediate family....'
Developers in the past year have restructured debt, sold non-core assets and tweaked the product mix, helping push up sales. This has encouraged investors to buy stocks of real estate companies and motivate analysts to revise price targets and upgrade the outlook on the sector. Reflecting the positive sentiment, the Bombay Stock Exchange Realty Index rose 58 per cent in the past month, outpacing the benchmark Sensitive index's gain of 27 per cent.
Equity benchmark indices Sensex and Nifty on Friday reversed their six-session losing streak and rebounded more than 1 per cent on value buying in auto, IT, financial and energy stocks. Better than expected quarterly financial results of corporates also boosted investor sentiments even as uncertainties persisted over the escalating tensions in the Middle East, according to analysts. In a largely range-bound trade, the 30-share BSE Sensex rose 634.65 points or 1.01 per cent to settle at 63,782.80 points.
The market breadth was extremely negative - out of 2,673 stocks traded, 2,170 declined, 444 advanced and the rest were unchanged on Friday. The BSE Realty index slumped 6.3% (243 points) to 3,597. The Metal index shed 4.8% (475 points) at 9,502, and the Bankex dropped 4.3% (293 points) to 6,571.
There are pending buy orders for 4.8 million shares on the NSE and BSE.
Investors' wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East. The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88 points. During the day, the index plummeted 894.94 points or 1.36 per cent to 64,502.68 points.
Assocham report cites economic slowdown, liquidity crunch, labour shortage etc as reasons.
Brokerages believe that the Bharatiya Janata Party's (BJP's) stronger-than-expected showing in state elections reduces political risks for the domestic markets going into 2024. However, after the short-term excitement, the focus will soon shift to earnings, global liquidity conditions, and the interest rate trajectory. "BJP's win in the three state elections is much better than what exit polls suggested and reinforces the consensus expectations of a Modi win in the 2024 national elections with a greater likelihood of 300+ seats for the BJP.
A number of Lucknow-based small builders are facing crunch due to the rise in inflation and increase in the interest rate by banks.
The companies on the list are from sectors including trading, finance, packaging, textile, realty, and others. Trading and finance companies account for half-a-dozen companies each.
Experts are looking at a timeframe of anything between 12 and 18 months from the time of the new government for concrete signs of revival.
Analysts say worst seems over but RBI's helping hand needed in form of rate cuts.
The managing director of a US-based pension fund blamed the fall on the carnage in stock markets globally and the heavy pullout by investors. "Last year saw unprecedented pullouts by hedge funds as they faced huge redemption pressure. Lots of investors believed they had paid too much and sold off. Most of the funds were listed in 2006 when realty prices were high. But now, prices have come down in most parts of the world."
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
The two signed the deal almost six years after a business restructuring announced by them.
Housing sales rose 36 per cent year-on-year to a record 120,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year.
Home sales continue to show declining trend in cities such as Mumbai and national capital region because of high home loan rates and property prices.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
While Hyderabad a key market, developers say Tier-II and Tier-III towns in both states to catch up soon.
Most of the funds have not signed any deals in the past few months as realty prices fell sharply and economic slowdown deepened across the world, which slowed the flow of funds significantly. Red Fort plans to deploy Rs 150 crore (Rs 1.5 billion) in the current quarter and is in talks with a Mumbai developer. But Bedi says finance is a big issue now as most of the projects have been delayed or are yet to take off.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
Shahid Balwa and Vinod Goenka, the promoters of DB Realty, have a common background -- both are college drop-outs and came from families that, directly or indirectly, dealt in real estate.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
Donald Trump Jr visited Pune for a business meeting with Panchshil Realty in Pune on Tuesday, December 13, 2022.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
Launches of new homes reduced drastically this year.
The real estate portal stated that it conducted a nationwide online survey christened 'Realty Trends 2010' for metros and Tier II cities across the country, which saw participation from over 4,800 property seekers.
The index recovered partially in early noon trades on the back of better-than-expected only to fall back sharply in late noon trades. Aggressive selling in late noon trades, especially in technology and realty stocks, saw the index slide past the 14,000-mark to a low of 13,934.
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