Realty stocks rise in morning trade on NSE, BSE
A day after a huge decline in the realty stocks, the real estate shares have surged in the morning trade on Thursday.
On the National Stock Exchange (NSE), the construction index has witnessed 82 advances and six declines in the morning trade.
In a major crackdown against black money, Prime Minister Narendra Modi, late on Tuesday, announced that high denomination notes of Rs 500 and Rs 1,000 would no longer be legal tender, PTI reported.
The announcement had impacted the real estate stocks whereby witnessing up to 20% decline in the morning trade on Wednesday.
Stocks of construction companies such as Housing Development and Infrastructure, Marathon Nextgen Realty, Arihant Foundations and Housing, MBL Infrastructures, among others traded in the upward movement in the morning trade on the NSE.
The stock of Housing Development and Infrastructure was trading up 8.47% or Rs 5.25 at Rs 67.20 at 10:50 hours on the NSE.
See LIVE stock updates of Housing Development and Infrastructure here-
At 10:53 hours, the stock of Marathon Nextgen Realty was trading up 7.69% or Rs 18.50 at Rs 258.95 on the exchange.
See LIVE stock updates of Marathon Nextgen Realty here-
At 10:55 hours, the stock of Arihant Foundations and Housing was trading up 6.06% or Rs 3.20 at Rs 56.00 on the NSE.
See LIVE stock updates of Arihant Foundations and Housing here -
At 10:56 hours, the stock of MBL Infrastructures was trading up 8.03% or Rs 7.35 at Rs 98.90 pm the exchange.
See LIVE stock updates of MBL Infrastructures here-
Similarly, the construction index of BSE had witnessed 100 advances and13 declines in the morning trade on Thursday. Stocks of Supreme Infrastructure India, Arihant Foundations and Housing, MBL Infrastructures, among others were trading in the upward zone on the BSE.