Nifty below 17,850 mark; realty stocks decline

The key equity indices traded sideways in mid-afternoon trade. The Nifty traded below the 17,850 mark after hitting the day's high of 17,924.90 in mid-morning trade. Realty stocks extended losses for the third consecutive trading session.

At 14:29 IST, the barometer index, the S&P BSE Sensex, was up 29.31 points or 0.05% to 60,720.85. The Nifty 50 index declined 15.55 points or 0.09% to 17,829.05.

In the broader market, the S&P BSE Mid-Cap index shed 0.17% while the S&P BSE Small-Cap index declined 0.21%

The market breadth was negative. On the BSE, 1,510 shares rose and 1,881 shares fell. A total of 169 shares were unchanged.

Numbers to track:

The yield on India's 10-year benchmark federal paper advanced to 7.390 from 7.37 previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.80, compared with its close of 82.73 during the previous trading session

MCX Gold futures for 5 April 2023 settlement declined 0.31% to Rs 56041.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 104.03.

The United States 10-year bond yield advanced 1.07% to 3.869

In the commodities market, Brent crude for April 2023 settlement advanced 50 cents or 0.60% to $83.50 a barrel.

Buzzing Index:

The Nifty Realty index declined 0.82% to 397.55, extending losses for the third session. The index had declined 3.26% in three trading sessions.

Prestige Estates Projects (down 3.35%), Indiabulls Real Estate (down 1.75%), DLF (down 1.4%), Macrotech Developers (down 0.7%), Sunteck Realty (down 0.49%), Phoenix Mills (down 0.43%), Godrej Properties (down 0.3%) and Oberoi Realty (down 0.04%) declined.

On the other hand, Brigade Enterprises (up 0.97%) ,Sobha (up 0.38%) edged higher.

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