Here's how the Real Estate stocks are doing at the Markets

Real Estate stocks, some of whom were battered beyond recognition, were the best performing sectoral assets on Thursday as traders fished for bargains at a time when short positions were being covered.

Sentiment on the cash-starved sector, which is facing huge inventory pile up and a fall in prices as well as demand, perked up a bit on Wednesday after sector giant DLF announced a project-specific tie up with Singapore's sovereign fund GIC to the tune of 1,990 crore rupees.

As a consequence, all five real estate stock futures in the derivatives space showed smart gains, led by DLF.

Futures of DLF surged 8 percent to 118.80 rupees. They were the second best performing futures in the F&O space. HDIL rose 7.1 percent to 63.20 rupees; I B Real Estate added 6.7 percent to 64.75 rupees; JP Associates was up 2.7 percent to 9.50 rupees and Unitech added 2.5 percent to 6.15 rupees.

In the past, traders have used a rise in prices of such stocks to go short on the counters.

Image credit: Indiatimes