Sensex, Nifty trade sideways with losses

Benchmark indices were trading sideways with small losses in morning trade. The was trading below the 17,700 mark. PSU banks, realty and FMCG stocks were in demand.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was at 59,371.55, down 41.72 points or 0.07%. The Nifty 50 index traded 21.9 points or 0.12% lower at 17,689.4.

The broader market saw buying and outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.45% while the S&P BSE Small-Cap index rose 0.7%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1948 shares rose and 965 shares fell. A total of 147 shares were unchanged.

Trading could be volatile today traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contracts expires today, 30 September 2021.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 233,231,373 with 4,773,860 deaths. India reported 277,020 active cases of COVID-19 infection and 448,062 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India added 23,529 new cases. Active cases accounted for less than 1% of total cases, currently at 0.82%. Active caseload stands at 2,77,020; lowest in 195 days. The recovery rate currently stands at 97.85%.

Buzzing Index:

The Nifty Realty index added 0.9% to 510.9, rising for second trading session. The realty index has gained 2% in two days.

Oberoi Realty (up 3.6%), Phoenix Mills (up 2.87%), Sunteck Realty (up 2.3%), Indianbulls Real Estate (up 1.92%) and Brigade Enterprises (up 1.37%) were top gainers in realty space.

Stocks in Spotlight:

Blue Dart Express rose 0.69%. The logistics company announced that its general price increase, effective from 1 January 2022. The average shipping price increase will be 9.6% as compared to 2021, dependant on the shipping profile.

Persistent Systems jumped 3.58%. after the IT company announced it has entered into an agreement to acquire Charlotte, North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360, and the business of East Brunswick, New Jersey-based Shree Partners including its subsidiary in India.

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