Stock Market CrashThe Nifty Realty index slipped 2% on Tuesday amid heavy selling in stocks of Indiabulls Real Estate, Unitech, DLF, and Phoenix Mills.

Shares of Indiabulls Real Estate slipped 5%, while those of Godrej Properties and Phoenix Mills dropped 4% each and were the major losers on the index. Unitech and DLF also contributed to the fall, by declining 3% each. Brigade Enterprises and Oberoi Realty also dropped 2% and 1%, respectively.

Meanwhile, equity benchmark indices were trading in the green on Tuesday with the Sensex rising 54 points at 36,636, while the Nifty gained 27 points to 10,938.

On the currency front, the Indian rupee appreciated 7 paise on Tuesday to 71.67 against the dollar. The domestic unit opened marginally higher at 71.72/US$ compared to its previous close of 71.74/US$. The rupee was under pressure as investors were cautious ahead of the Reserve Bank of India’s monetary policy outcome due on February 7.

[“source=indiainfoline”]