AFTER lagging the broad market for a while, shares of realty and metal companies have finally joined the party on D-Street. Shares of the companies from both sectors have been volatile in the past few months, as the outlook on their earnings prospects remains hazy. Traders who punted on these stocks made good money in a rising market, but lost heavily when sentiment changed for the worse. Following this, most players reduced their exposure to metal and realty stocks. However, this now made them look relatively attractive compared to other over valued stocks. Dealers say if market sentiment remains positive, these stocks will outperform other sectors, as they (metal and realty) do not suffer from over-ownership unlike many other leading stocks. Among the big gainers on Tuesday, DLF shares rose over 4% to close at Rs 315.65, and Tata Steel shares rose 2.3% to close at Rs 508.25
Courtesy by: The Economic Times Dtd: July 14, 2010
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