Sunday 5 October 2008

DLF touches 52-week low

DLF has touched a 52-week low of Rs 308. At 10:23 am, the share was quoting at Rs 309.70, down Rs 26.7, or 7.94%.

It was trading with volumes of 357,089 shares. On Friday the share closed down 2.56% or Rs 8.85 at Rs 336.40.

BSE Realty Index tumbles and is trading down close to 7%. Drop in volumes have made the analysts cautious on real estate sector. There are concerns of credit crunch in realty sector. Experts say that property prices have already dropped by 10-15% & are slated to drop further post festive season. Also, with rate hikes home loan rates have gone further, which will eventually lead to drop in sales. Slowdown is seen in the real estate sector.

Currently the shares is trading 74.72% below the 52-week high of 1,225.00

Source: MoneyControl

Posted by Harsh at 23:53

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