Indices turn rangebound; realty stocks surge

The key equity indices turned rangebound in mid-afternoon trade. The Nifty was trading above the 17,700 mark. Realty stocks advanced across the board.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 576.2 points or 0.99% to 59,345.42. The Nifty 50 index added 171.55 points or 0.98% to 17,703.60.

In the broader market, the S&P BSE Mid-Cap index rose 1.42% while the S&P BSE Small-Cap index gained 1.65%. Both these indices outperformed the Sensex.

Buyers outpaced sellers. On the BSE, 2334 shares rose and 922 shares fell. A total of 202 shares were unchanged.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 74.38 from its previous closing of 74.1275.

MCX Gold futures for 5 October 2021 settlement fell 0.01% to Rs 46,283.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.22%.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 94.

In the commodities market, Brent crude for December 2021 settlement fell 12 cents or 0.15% to $79.16 a barrel.

Buzzing Index:

The Nifty Realty index advanced 3.09% to 521.70. The index had declined 1.51% to end at 521.70 on Friday.

Godrej Properties (up 5.16%), Brigade Enterprises (up 4.72%), Indiabulls Real Estate (up 4%), Sobha Developers (up 2.76%), DLF (up 2.05%) and Macrotech Developers (up 1.97%) advanced.

Stocks in Spotlight:

Generic Engineering Construction and Projects rose 13.18% to Rs 48.10 after the company said it secured new work orders worth Rs 180.38 crore for various institutional projects.

Sona BLW Precision Forgings rose 2.14% to Rs 573.95. The company's wholly-owned subsidiary Sona Comstar eDrive has executed a collaboration agreement with Israel's IRP Nexus Group to develop, manufacture, and supply a magnet-less drive motor and the matching controller for performance two-wheelers and three-wheelers for the global market. The term of the agreement is for seven years.

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