stock market today The BSE Realty index witnessed a breakout as the index climbed to an 11-year high after climbing a peak of 4,000. According to stock market experts, the BSE Realty Index has given a breakout on ₹4,000 and it has strong support at the 3,900 level. He added that the real estate index is still well below its all-time high of 13,647, which it set in January 2008.
Stock market experts are of the opinion that listed real estate companies are reducing their debt by around 37 per cent in the last 18 months, net absorption of commercial real estate has increased to around 14 per cent last year and there are some fundamental reasons. Due to which the real estate index has risen. He suggested investors to buy shares of Indiabulls Real Estate and Oberoi Realty to buy today.
Speaking on the latest breakout in BSE Realty Index; Sumeet Bagadia, Executive Director, Choice Broking said, “Both BSE Realty Index and NSE Nifty Realty Index have given fresh breakouts. NSE Nifty Realty Index is looking positive on the charts and either one is at current 505 levels with a target of 550 to 600. Can buy. In the short term.”
Resonating with the thoughts of Sumeet Bagdia; Rohit Singre, Senior Technical Analyst, LKP Securities said, “BSE Realty Index remains above 4000 level and has strong support at 3,900 level. In the current market scenario, one can buy Indiabulls Real Estate shares on CMP . ₹from 175 ₹200 target maintaining stop loss ₹140 levels.”
Which real estate stock to buy today Sumeet Bagadiya of Choice Broking said, “Anyone can buy shares of Oberoi Realty at the current market price. ₹from 950 ₹maintain stop loss at 990 ₹850 each level.”
highlighting the fundamentals that supported the rally in the Realty Index; Anuj Puri, Chairman, ANAROCK Group, said, “Various factors contributed to the steady and sustained growth of the BSE Realty Index. The market consolidation that started after the reforms has inspired greater transparency and accountability among the real estate players. In the realty sector, corporate houses like Tata, Godrej, L&T, Raymond, Kirloskar and many others have played a vital role in boosting the confidence of buyers and institutional investors.
“Large and listed real estate players have increased their market share significantly. Their sales share increased from 17 per cent in FY17 to 31 per cent by Q1 FY22. Amid high liquidity and low interest rates, large developers have been able to access existing loans. and listed realty companies have waived off 37 per cent of debt in 18 months and improved their balance sheets,” said Anuj Puri.
Anuj Puri of ANAROCK Group said that the commercial office segment is also growing. While its growth hit the pause button in 2020 due to the Covid-19 pandemic, lost momentum has been regained. This is evident from the increasing volume of leases following the pandemic – in H1 2021, net absorption is on the rise, an increase of 14 percent compared to the same period last year.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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