Oberoi, Macrotech, other real estate stocks fall up to 5%; Nifty Realty top sectoral loser

Shares of real estate firms, including Oberoi Realty, Macrotech Developers and Prestige Estates, fell up to 5 percent on Tuesday as broader equity markets remained under selling pressure on the first trading session of the new financial year.

Analysts said realty was under selling pressure following Maharashtra's upward revision of ready reckoner rates.

The Nifty Realty index emerged as the worst-performing sectoral gauge, slipping over 3 percent, with all its 10 constituents trading in the red.

Vinod Nair, Head of Research, Geojit Investments noted, "Real estate stocks fell following Maharashtra's upward revision of ready reckoner rates, which affect property valuations."

Oberoi Realty was the biggest loser in the segment, tumbling 4.94 percent to touch an intraday low of Rs 1,556.50 on the NSE. The stock has now declined for two consecutive sessions, shedding 5 percent in this period.

Prestige Estates and Godrej Properties also witnessed sharp declines, falling 4.75 percent and 4.3 percent, respectively. Heavyweights DLF and Raymond lost up to 4 percent in intraday trade.

Satish Chandra Aluri, Lemonn Markets Desk, further added "Overall sentiment has been weak and recent underwhelming bank loan data might have weighed on the sentiment more. However, upcoming RBI meeting where a rate cut is widely expected can help the sector as housing gets a boost with lower rates."

Overall, equity benchmark indices faced heavy selling pressure, led by weakness in IT and real estate stocks, amid concerns over US President Donald Trump’s proposed reciprocal tariffs, which dampened investor sentiment. At the broader level, both the Sensex and Nifty dropped over 1 percent in trade.

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