Sensex was down 148.09 points or 0.85% at 17342.81, and the Nifty down 41.05 points or 0.79% at 5151.20. Selling pressure was seen in realty, tech and power stocks. Realty stocks were hammered in today’ trade and Realty index was down by 5.51%.

Unitech was the biggest looser in this sector which was almost down about 7%, followed by HDIL, DLF, Omaxe which were down any where near to 5% in todays trade. The other looser were Ansal Properties, Prasvnath etc.

Business expert, Pujit Aggarwal, MD, Orbit Corporation is of the view that if demand continues to be poor, realty prices may correct to some extent because everybody needs money or cash flows to pump into projects. He expects further correction of about 10-15%.

Gulam Zia, Head of Advisory Services, Knight Frank, said the Mumbai market doesn’t have much to add to supplies, a very little supply is coming in. He feels prices in Mumbai will not really follow suit with the rest of India. He also added, metro markets have already seen a correction or downward trend between ranges of 10-15%. “In Tier-II markets, it’s just about touching 10%.” He further added a correction of 20% would not be too speculative.

Realty looser's in today’s trade

Name	Closing price	Change	% change
Akruti City	10833.55	11.75	1.07
Anant Raj	262.65	5.2	1.94
Ansal Properties	174.15	8.3	4.58
DLF	667.95	37.1	5.26
HDIL	781.7	51.29	6.15
India Bulls	556.35	8.1	1.44
Omaxe	232	13.45	5.48
Peninsula	104.35	4.6	4.22
Unitech	307.05	23.85	7.21