Weak sentiment was driven by concerns over sustained layoffs in the information technology sector.
In the stock-specific moves, Signatureglobal (India) fell 2.15%, Macrotech Developers (Lodha Group) slipped 1.82%, Brigade Enterprises declined 1.54%, Anant Raj dropped 1.44%, and Prestige Estates Projects lost 1.36%. Phoenix Mills eased 1.31%, while Godrej Properties fell 0.84%, Oberoi Realty slipped 0.78%, and DLF was marginally lower by 0.05%.
Media reports indicated that prolonged IT job cuts are starting to impact housing demand. The effect is more visible in technology-driven cities such as Bengaluru and Hyderabad.
Employment uncertainty has discouraged high-income buyers from upgrading homes. Mid-to-premium and luxury housing segments continue to face the most pressure.
Reports also flagged hiring softness and AI-led automation as ongoing concerns. Market participants expect real estate stocks to remain volatile without policy support or a recovery in tech-sector employment.