Realty shares tumble

Key indices were hovering near day's low in mid-morning trade. At 11:15 IST, the barometer index, the S&P BSE Sensex, was down 68.05 points or 0.22% at 31,222.69. The Nifty 50 index was down 33.35 points or 0.35% at 9,596.65. Realty shares declined. IT shares were mixed.

Broader market declined. Among secondary barometers, the BSE Mid-Cap index was down 1.30%. The BSE Small-Cap index was down 1.51%. The decline in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were more than three losers against every gainer on BSE. 1,758 shares fell and 504 shares rose. A total of 107 shares were unchanged.

IT shares were mixed. Wipro (up 1.18%), Infosys (up 0.53%), TCS (up 0.51%) and HCL Technologies (up 0.24%), edged higher. Persistent Systems (down 0.08%), Hexaware Technologies (down 0.6%), Tech Mahindra (down 0.79%), Oracle Financial Services Software (down 1.24%) and MphasiS (down 2.3%), edged lower.

MindTree was up 2.17% after the company said its board will meet on 28 June 2017, to consider a proposal for buyback of shares. The announcement was made after market hours yesterday, 22 June 2017.

Realty shares declined. Prestige Estates Projects (down 4.58%), Sunteck Realty (down 3.73%), Godrej Properties (down 3.04%), Oberoi Realty (down 2.98%), Anant Raj (down 2.46%), DLF (down 2.12%), Parsvnath Developers (down 2.09%), Unitech (down 1.91%), Sobha (down 1.65%), Housing Development and Infrastructure (HDIL) (down 1.61%), Peninsula Land (down 0.74%), Mahindra Lifespace Developers (down 0.6%), Omaxe (down 0.32%) and Phoenix Mills (down 0.22%), edged lower. D B Realty (up 0.84%) and Indiabulls Real Estate (up 0.94%), edged higher.

Deep Industries gained 1.20% to Rs 281.50 after the company said that it has been awarded a contract from ONGC. The announcement was made during market hours today, 23 June 2017. Deep Industries said that the contract is for securing the services of 30 tons workover rig to be deployed in ONGC coal bed methane (CBM) asset, Bokaro. The tenure of the contract is one year and the total estimated value of the contract is Rs 3.72 crore.

Overseas, Asian shares were mixed, but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows. China's Shanghai Composite Index was down 0.71% as increased regulatory scrutiny over the borrowings of China's most prolific overseas deal makers weighed on Chinese shares. The move, which sent shares of the companies' listed units tumbling late Thursday, hurt investor sentiment due to concerns about tighter regulations across China's financial markets at a time of volatile trading.

In US, stocks closed mostly lower as weak financials and consumer staples shares eclipsed a rally in the healthcare and biotechnology sectors. Health-care stocks were among the biggest gainers as lawmakers released a discussion draft of the health-care bill that aims to cut Medicaid and eliminate penalties for people who don't buy insurance, among other changes. The Dow Jones Industrial Average slipped 12.74 points to end at 21,397.29. The Nasdaq Composite Index bucked the trend for a second day to edge up 2.73 points to close at 6,236.69.

A report on weekly jobless claims showed that fewer than 250,000 Americans applied for unemployment benefits in mid-June. Initial jobless claims rose by 3,000 to 241,000 in the seven days stretching from 11 June to 17 June 2017, Labor Department said.

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