Sensex down 158 pts, Nifty near 16,500; realty shares tumble

Equity indices traded with modest losses in mid afternoon trade. The Nifty traded a tad below 16,500 mark. Metal and realty shares tumbled.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 157.51 points or 0.28% at 55,472.27. The Nifty 50 index declined 77.35 points or 0.47% at 16,491.65.

The broader market tumbled. The S&P BSE Mid-Cap index was down 1.53% while the S&P BSE Small-Cap index fell 1.39%.

The market breadth was weak. On the BSE, 767 shares rose and 2374 shares fell. A total of 136 shares were unchanged.

Buzzing Index:

The Nifty Realty index slumped 3.33% to 374.35, falling for fifth consecutive trading session. The index has declined 6% in five days.

Oberoi Realty (down 4.9%), DLF (down 4.85%), Brigade Enterprises (down 3.87%), Indiabulls Real Estate (down 3.63%), Prestige Estate (down 3.58%) and Sunteck Realty (down 3.18%) were top losers in realty space.

Stocks in Spotlight:

Eicher Motors rose 0.83%. The company said its shareholders at the 39th Annual General Meeting (AGM) held on 17 August 2021 have rejected the proposal for re-appointment of Siddhartha Lal as managing director of the company for a period of 5 years with effect from 1 May 2021. Payment of remuneration was not passed with requisite majority.

Ujjivan Small Finance Bank (Ujjivan SFB) slumped 12.16% to Rs 21.30 after Nitin Chugh resigned from the position of managing director and CEO of the bank.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 74.425 from its previous closing of 74.2475.

MCX Gold futures for 5 October 2021 settlement rose 0.07% to Rs 47,200.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 93.67.

In the commodities market, Brent crude for October 2021 settlement fell 32 cents or 0.48% to $69.4 a barrel.

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