Nifty Realty index zooms 97% in 2017; set to post biggest rally in 10-years

STOCK MARKET - The Nifty Realty and the S&P BSE Realty indices have gained more than 90% thus far in the calendar year 2017 (CY17), and is set to post their sharpest rally in the past one decade, on the back of
 an improvement in affordability, and multiple developments on the policy initiatives front.

Putting behind demonetisation announced by the government in November 2016, the Nifty Realty index and the S&P BSE Realty zoomed 97% and 94%, respectively, so far in CY17. Both these indices hit their multi-year highs, and are set to record their biggest yearly gain since inspection.

By comparison, Nifty 50 and the S&P BSE Sensex are up 26% each thus far in CY17.The value of the realty indices is available from the calendar year 2007 with the stock exchanges.

Between November 8, and December 30, 2016, the BSE realty index was down 17% after the Government announced the demonetisation of all Rs 500 and Rs 1,000 banknotes. In entire previous CY16, it fell 6% against 2% rise in the benchmark index. Earlier in CY09, the realty indices had rallied 70% after falling 82% in CY08, post Lehman crises.