Benchmarks hover near flat line; realty shares down for 2nd day

The key equity indices continued to trade in a narrow range near the flat line in afternoon trade. The Nifty hovered above the 23,700 level. Realty shares declined for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex was down 11.29 points or 0.01% to 78,461.58. The Nifty 50 index added 12.50 points or 0.05% to 23,740.15.

In the broader market, the S&P BSE Mid-Cap index fell 0.30% and the S&P BSE Small-Cap index declined 0.38%.

The market breadth was negative. On the BSE, 1,577 shares rose and 2,356 shares fell. A total of 108 shares were unchanged.

Buzzing Index:

The Nifty Realty index shed 0.67% to 1,067.50. The index shed 0.76% in past two trading sessions.

Brigade Enterprises (down 1.74%), Raymond (down 1.52%), Phoenix Mills (down 1.17%), Prestige Estates Projects (down 0.9%), Godrej Properties (down 0.58%), Sobha (down 0.55%), DLF (down 0.53%), Mahindra Lifespace Developers (down 0.4%) slipped.

On the other hand, Macrotech Developers (up 0.45%) and Oberoi Realty (up 0.44%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper gained 1.73% to 6.893 as compared with the previous close of 6.776.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.27, compared with its previous close of 85.15 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement rose 0.48% to Rs 76,634.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 108.21.

The United States 10-year bond yield advanced 0.57% to 4.614.

In the commodities market, Brent crude for February 2025 settlement added 28 cents, or 0.38% to $73.45 a barrel.

Stocks in Spotlight:

Ace Software Exports hit an upper circuit of 2% after the company has signed a letter of intent (LoI) with a reputed international entity based in the United Kingdom to explore the establishment of a joint venture.

Eureka Forbes (EFL) added 1.54% after the firm said that CRISIL Ratings assigned its 'CRISIL AA-/Stable corporate credit rating to the company. CRISIL Ratings stated that the rating reflects the group's leading position in domestic health & hygiene segment, established marketing network, healthy financial profile and efficient working capital cycle and healthy operating cash flows.

Powered by Capital Market - Live News