Investors alert: Not a good day to invest in Real Estate

Futures of Real Estate companies posted losses of between 1.5 percent and 6 percent and sunk to fresh intermediate lows as investors and traders fretted over the sector's rising unsold inventory and stagnant to falling real estate prices.

Futures of JP Associates plunged 6 percent, or 0.60 rupees, to 9.35 rupees. Open Interest rose 7.4 percent.

Futures of DLF dropped 4 percent, or 4.1 rupees, to 97 rupees. Open Interest rose 6.5 percent.

Futures of HDIL lost 3.3 percent, or 2.75 rupees, to 80.35 rupees. Open Interest rose 5.5 percent.

Futures of Unitech fell 1.5 percent, or 0.10 rupees, to 6.55 rupees. Open Interest rose 6.1 percent.

The lone exception was IB Real Estate which rose 1.1 percent, or 0.65 rupees, to 59.30 rupees. Open Interest rose 9.3 percent.

Real Estate stocks have been out of investors' favour for now more than 2 years as some companies have resorted to selling assets in a bid to tide over tough times. Rising interest rates and stagnant salaries have also prevented a rise in sales of flats as potential customers stay away.

(Image credits: urbannewsdigest)