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Last Updated : Sep 19, 2018 12:41 PM IST | Source: Moneycontrol.com

Phoenix Mills remains top pick, maintains Sell on DLF as real estate demand conditions remain weak: Citi

The realty space is the biggest loser among sectoral indices as the Nifty Realty index dropped nearly 25 percent year-to-date against 7 percent upside in Nifty50.

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Global brokerage house Citi said there are some signs of a rebound in the real estate sector, but it is still a long way to go.

"Residential new launches appear to be bottoming and demand conditions remain weak. On top of that, tightening interest rate environment could take a further toll," the research house said.

So the recovery in realty space is likely to be protracted & gradual, it feels.

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Phoenix Mills remains its top pick in the sector and maintain Sell call on DLF, Citi said.

The realty space is the biggest loser among sectoral indices as the Nifty Realty index dropped nearly 25 percent year-to-date against 7 percent upside in Nifty50.

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First Published on Sep 19, 2018 12:41 pm
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