• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Corporate Results
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

MUMBAI: Shares of the real estate companies plunged by over 7 per cent in early trade on the Bombay Stock Exchange today, led by the Unitech, on profit booking by traders.

Shares of Unitech plunged by 7.60 per cent to touch a low of Rs 70.50, while shares of DLF skid 4.23 per cent to a low of Rs 295.05. Realty index plunged nearly 7.43 per cent, down by 296.74 points, at 2,945.50 points.

“The short-term traders want to exit their positions due to uncertainty in the markets world-over. Hence they are booking profits as for now,'' SMC Global Vice-President Rajesh Jain said. Similar movement was seen in Sobha Developers, which was down 3.4 8 per cent, Parsvnath Developers 4.30 per cent, Indiabulls Real Estate 4.32 per cent and Ackruti City 2.39 per cent.

“The European markets and Asian markets are in stress and our market is also taking cues from these markets,'' Jain added. The benchmark index Sensex plunged 3 per cent to a low of 13,701 points in early trade. - PTI

Prev: Sensex falls below 14K level
Next: Forex Rates

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line