Nifty Realty Worst Hit; Prestige Estates Down By 16-pc


Mirroring the international market sell-off, the Nifty Realty the worst hit, with a fall of 7.70 percent today, afternoon session at 2.10-pm.

The Nifty Bank index also witnessed considerable selling pressure up to 7.40 percent, meantime.

The biggest contributors for the declines in Nifty Realty include stocks like Prestige Estates Projects which slipped as much as 17.75 percent. Other contributors to the fall in the Realty index include Sunteck Realty, Mahindra Lifespace Developers, The Phoenix Mills and DLF between 11 and 8 percent.

However, in the Bank Nifty Yes Bank jumped as much as 50 percent and has stood as a strong contributor. Checkout best intraday Nifty stock tipstoday.

Also, the Nifty bank index was impacted on reports that RBI will hold a meeting today late evening. There is an expectation of a rate cut to revamp the ailing economy hit by the Covid-19 pandemic.

Other indices that are doing weak include Nifty Auto (down 4.40pc), Nifty IT (down 6.85-pc), Nifty Metal (down 7.75-pc), Nifty Private Bank (down 7.86pc) and the Nifty Media (down 5.93) currently.

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