Sensex, Nifty hold firm near day's high

Key equity barometers held firm near the day's high in mid-afternoon trade. The Nifty was trading above 10,500 mark. At 14:31 IST, the barometer index, the S&P BSE Sensex, was up 284.84 points or 0.80% at 35,919.79. The Nifty 50 index was up 74.20 points or 0.71% at 10,525.65.

The broader market underperformed. The S&P BSE Mid-Cap index was down 0.33% while the S&P BSE Small-Cap index slipped 0.13%.

The market breadth was negative. On the BSE, 1108 shares rose and 1278 shares fell. A total of 166 shares were unchanged. In Nifty 50 index, 23 stocks advanced while 27 stocks declined.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee was trading at 73.74 compared with its previous closing of 74.17.

The yield on 10-year benchmark federal paper rose to 6.129% at 14:23 IST compared with 6.066% in the previous trading session.

In the commodities market, Brent crude for May 2020 settlement was down 11 cents to $37.11 a barrel. The contract rose $2.86 or 8.32% to settle at $37.22 a barrel in Tuesday's trading session.

MCX Gold futures for 3 April 2020 settlement fell 0.36% to Rs 43583.

Buzzing Index:

The Nifty Realty index fell 1.67% to 255.65, extending declines for fifth day. The index has lost 10.03% in the past five sessions.

Sobha (down 11.91%), Prestige Estates Projects (down 6.32%), Indiabulls Real Estate (down 4.95%), Unitech (down 4.87%), Peninsula Land (down 4.79%), Mahindra Lifespace Developers (down 4.06%), Parsvnath Developers (down 2.86%), Sunteck Realty (down 2.53%), Housing Development and Infrastructure (HDIL) (down 1.6%), Oberoi Realty (down 1.25%), Anant Raj (down 1.23%), DB Realty (down 0.9%), DLF (down 0.74%), Godrej Properties (down 0.56%) and Phoenix Mills (down 0.39%) declined.

Brigade Enterprises (up 2.38%) and Omaxe (up 0.68%) advanced.

Stocks in Spotlight:

PI Industries slipped 0.10% to Rs 1515. The company's newly set-up unit located at Bharuch, Gujarat, has started its commercial production w.e.f. 11 March 2020.

NBCC (India) fell 2.82% to Rs 20.65. The company has secured the total business of about Rs 128.66 crore in February 2020.

HBL Power Systems surged 14.02% to Rs 15.45. The company has received order worth Rs 70 crore from South Central Railways for train collision avoidance systems. It also has received order valued Rs 85 crore for seven submarine propulsion batteries from Indian Navy. The company has received export orders worth $3.6 million for supply of lithium thermal batteries to be completed over the next 18 months.

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