Benchmarks trade sideways; realty shares rise for second day

The key equity indices traded near flat line in mid-afternoon trade. The Nifty index continued to trade above the 15,900 mark. Realty shares advanced for the second consecutive session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 6.45 points or 0.01% to 53,152.40. The Nifty 50 index added 3.40 points or 0.02% to 15,927.60.

The broader markets outperformed the benchmark indices. The S&P BSE Mid-Cap index gained 0.44%. The S&P BSE Small-Cap index added 0.30%.

Buyers outpaced sellers. On the BSE, 1727 shares rose and 1433 shares fell. A total of 149 shares were unchanged.

Zomato IPO:

The initial public offer of online food delivery platform Zomato received bids for 1,316.96 crore shares as against 71.92 crore shares on offer on Friday (16 July 2021), according to stock exchange data at 14:05 IST. The issue was subscribed 18.31 times.

The qualified institutional buyers (QIBs) category was subscribed 24.91 times. The non-institutional investors (NIIs) category was subscribed 13.57 times. The retail individual investors (RIIs) category was subscribed 6.51 times.

The issue opened for bidding on Wednesday (14 July 2021) and it will close on Friday (16 July 2021). The price band of the IPO is fixed at Rs 72-76 per share. An investor can bid for a minimum of 195 shares and in multiples thereof.

Buzzing Segments:

The Nifty Realty index rose 0.41% to 394.65. The index has added 4.63% in two sessions.

DLF (up 2.48%), The Phoenix Mills (up 1.33%) and Godrej Properties (up 1.19%) advanced.

Oberoi Realty (down 2.06%), Sobha Developers (down 1.78%), Indiabulls Real Estate (down 1.74%) and Hemisphere Properties India (down 1.40%) declined.

Shares of stock broking firms were in demand. Motilal Oswal Financial Services (up 12.94%), Geojit Financial Services (up 11.27%), SMC Global Securities (up 7.50%), ICICI Securities (up 7.05%), IIFL Securities (up 6.33%), 5paisa Capital (up 5%), JM Financial (up 4.69%) and Centrum Capital (up 1.72%) advanced.

Angel Broking was locked in 20% upper circuit at Rs 1274.45. The stock broker recorded a 19% increase in consolidated net profit to Rs 121.37 crore on 13.23% rise in revenue from operations to Rs 462.67 crore in Q1 FY22 over Q4 FY21. The stock broker's consolidated net profit increased 156.6% while revenue from operations jumped 94% in Q1 FY22 over Q1 FY21.

Total income stood at Rs 474.5 crore in Q1 FY22 as against Rs 418.9 crore in Q4 FY21, a growth of 13% QoQ. The company said income growth was aided by strong growth in client base and high client activity.

On the operational front, the company witnessed strong gross client addition of 1.20 million in Q1 FY22 as compared to 0.96 million clients in Q4 FY21.

Shares of asset management companies (AMCs) advanced. Nippon Life India Asset Management (up 6.65%), UTI Asset Management Company (up 3.34%) and HDFC Asset Management Company (up 2.41%) edged higher.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.5875 compared with its previous closing of 74.5425.

MCX Gold futures for 5 August 2021 settlement shed 0.25% to Rs 48,280.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 92.61.

The yield on 10-year benchmark federal paper rose to 6.130% from its previous close of 6.117%.

In the commodities market, Brent crude for September 2021 settlement rose 14 cents to $73.61 a barrel. The contract had lost $1.29 or 1.73% to settle at $73.47 in the previous trading session.

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