Barometers trade with minor gains; realty stocks rise for 2nd day

The domestic equity barometers traded with minor gains in mid-morning trade. The Nifty managed to hold above the 18,000 mark. Metal shares advanced for second consecutive session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 73.8 points or 0.12% to 60,640.22. The Nifty 50 index added 28.20 points or 0.16% to 18,042.80.

In the broader market, the S&P BSE Mid-Cap index advanced 0.50% while the S&P BSE Small-Cap index gained 1.25%.

The market breadth was strong. On the BSE, 2455 shares rose, and 836 shares fell. A total of 122 shares were unchanged.

Buzzing Index:

The Nifty Realty index added 1.13% to 424.55. The index has gained 3.59% in two sessions.

Phoenix Mills (up 3.7%), Indiabulls Real Estate (up 3.59%), Godrej Properties (up 1.7%), Prestige Estates Projects (up 1.16%) and Sobha (up 0.79%) were the top gainers.

Among the other gainers were Oberoi Realty (up 0.58%), Brigade Enterprises (up 0.36%), DLF (up 0.12%).

Stocks in Spotlight:

G R Infraprojects shed 0.86%. The civil construction company on Monday announced that it has received two completion certificates for Madhya Pradesh-based projects awarded under the Bharatmala Pariyojana on EPC mode.

DEV Information Technology (DEV IT) rallied 9.45%. The company said it has sold 5.45% of its equity holding in Dev Accelerator (DevX), a managed co-working space business, at a valuation of Rs 104 crore.

Global Markets:

Asian stocks edged higher on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID-19. Markets in some regions including Hong Kong and Australia remain shut on Tuesday.

China will stop requiring inbound travellers to go into quarantine starting from January 8. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection.

The U.S. and European markets were closed on Monday for Christmas holidays.

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