Stock market update: HDIL skips realty pain, zooms 13% on Q1

NEW DELHI: The Nifty Realty index was trading 0.85 per cent down at 273 around 12:50 pm on Thursday on losses in Sobha (down 4.43 per cent), Indiabulls Real Estate (down 3.47 per cent) and Godrej Properties (down 1.66 per cent).

Shares of Phoenix Mills (down 1.47 per cent), Oberoi Realty (down 0.87 per cent) and Prestige Estates Projects (down 0.67 per cent) too were down in the index.

However, shares of Housing Development & Infrastructure (HDIL) (up 13.10 per cent) zoomed up.

The realty firm on Tuesday reported more than threefold jump in consolidated net profit at Rs 24.70 crore on higher sales.

Unitech (up 1.23 per cent), DLF (up 0.44 per cent) and Brigade Enterprises (up 0.36 per cent) too were in the green.

Equity market was dull amid weak global cues as a political crisis in Turkey and US-China trade war woes weighed on investor sentiment.

An unabated fall of the Indian rupee and sustained capital outflow in the wake of a continuous rise of US dollar also hit the market.

Benchmark NSE Nifty50 index was down 7 points at 11,428, while the BSE Sensex was 33 points down at 37,819.

Among the 50 stocks in the Nifty index, 27 were trading in the green, while 23 were in the red.

GAIL (India), Dr. Reddy's Laboratories, Sun Pharma, Axis Bank and Grasim Industries were among the top gainers in the Nifty index.

Kotak Mahindra Bank, Vedanta, Ultratech Cement, Hindalco Industries and Indiabulls Housing Finance were among the top losers in the Nifty pack of stocks.