Realty index up on move for regulator

A blockbuster market debut by e-commerce search service firm Just Dial and the cabinet approval of a Bill to create a real estate regulator livened up the stock markets on Wednesday, though key indices ended flat. HT reports.

A blockbuster market debut by e-commerce search service firm Just Dial and the cabinet approval of a Bill to create a real estate regulator livened up the stock markets on Wednesday, though key indices ended flat.

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Realty companies with proven track records saw traction, with the BSE realty index gaining 1.35% to close at 1,698.61 points on Wednesday, while the Sensex closed flat at 19,568.22.

"The Cabinet approval for this proposed Bill is positive for investors, although it is going to give additional pain to realty firms in terms of procedural hassles," said G Chokkalingam, ED and CIO, Centrum Wealth Management.

'Good boys' with zero debt will benefit, said Gaurang Shah, assistant vice-president, Geojit BNP Paribas Financial Services.