Realty in the Diwali Muhurat session
Dalal Street ushered in Samvat 2083 on Sunday with the special Muhurat trading session, a short and symbolic Diwali session that many investors treat as an auspicious start to the new financial year. The Sensex opened about 400 points higher near 81,400 and the Nifty moved above 25,100, but the gains faded. The Sensex ended 29 points lower at 80,999 and the Nifty 44 points lower at 24,986, ending a seven-session rally and a nine-year run of positive Muhurat sessions.
Realty was among the weaker spots. The Nifty Realty index fell 0.66% in the session, more than Bank Nifty’s 0.40% decline and IT’s 0.33%. Smallcaps rose 1% and market breadth was positive, with 3,127 stocks advancing against 917 declining. Realty also ended last year’s Muhurat session in the red, a reminder that the sector has often lagged on Diwali evening.
How realty stocks started today
Property shares slipped again at Monday’s open. The Sensex opened about 60 points lower near 80,939, and the Nifty hovered around the 25,000 mark. Realty and IT weighed on the market while banks, with SBI, HDFC Bank and ICICI Bank up more than 1%, led the gains. The midcap and smallcap indices dipped about 0.5% and 0.8%.
The pause is no surprise. The Nifty gained about 10% in seven sessions, its best week since 2021, which added ₹28.7 lakh crore to investors’ wealth. Realty led much of that run, jumping 2.85% on Wednesday and 3.52% on Thursday, so some profit-taking was likely.
What to look for through the day
The Nifty’s 25,000 level is the key reference, with resistance at 25,150 to 25,200 and support near 24,400. For realty, watch whether the sector holds its recent breakout or gives back more of the festive bounce. A fall in volumes on dips would suggest normal profit-booking rather than real selling.
What is moving realty stocks
- Foreign money: FIIs bought ₹13,750 crore on Friday, and November is seeing the biggest monthly inflows since September 2024.
- Oil and peace hopes: Cheaper crude on hopes of peace in the Middle East eases inflation and borrowing worries.
- Interest rates: The RBI’s repo rate is 5.50%, so home loan EMIs remain a worry for buyers.
- Earnings: Lodha’s profit rose 28% to ₹1,013 crore and Brigade’s 29% to ₹219 crore, while Godrej Properties’ profit fell 62% despite record collections.
What to wait for
- Diwali demand: Launch and booking updates after the festival will show whether homebuyers returned. Bookings of 28 listed developers fell 21% in April to June.
- Remaining Q2 results: A few developers are yet to report, with November 14 the last day.
- Next RBI meeting: It is scheduled for December 2 to 4.
- Foreign flows: A reversal in FII buying would quickly cool the rally.
The outlook
Realty enters Samvat 2083 with strong momentum, cheaper oil and festive demand to prove. After such a sharp run, breathers are healthy, but the sector needs real sales numbers and steady foreign flows to keep climbing.
