Benchmarks pare some losses; realty shares decline

The key equity indices pared some losses but traded in negative terrain in morning trade. Market could be volatile as the monthly Nifty50 F&O contracts are set to expire today. The Nifty traded above the 24,300 level after hitting days low of 24,239.45 in early trade.

Realty shares declined after rallying for seven consecutive trading sessions.

Investors will also closely watch the markets response to Indias latest diplomatic and economic measures against Pakistan, announced following Tuesday's terrorist attack in Pahalgam in Jammu & Kashmir, which claimed 26 lives. These measures include the suspension of the Indus Waters Treaty, shutting down the Wagah-Attari border, cancelling visas for Pakistanis, along with other measures.

At 10:25 IST, the barometer index, the S&P BSE Sensex shed 79.16 points or 0.10% to 80,038.43. The Nifty 50 index declined 19.90 points or 0.08% to 24,309.45.

The broader market outperformed the fronline indices. The S&P BSE Mid-Cap index jumped 0.24% and the S&P BSE Small-Cap index added 0.38%.

The market breadth was strong. On the BSE, 2,171 shares rose and 1,248 shares fell. A total of 213 shares were unchanged.

Economy:

On the macroeconomic front, the World Bank on Wednesday revised its growth outlook for India, trimming its forecast by 0.4 percentage points to 6.3% for the current fiscal year. The revision reflects rising global uncertainty, which the institution warned could dampen growth prospects across South Asia.

Earnings Today:

Axis Bank (up 0.51%), Hindustan Unilever (up 2.06%), Nestle India (up 3.17%), Tech Mahindra (up 0.83%), Mphasis (up 0.69%), SBI Cards and Payment Services (down 0.42%), Supreme Industries (down 0.64%), Tanla Platforms (up 0.57%), Waaree Technologies (up 2%), Laurus Labs (up 1.22%), Indian Energy Exchange (IEX) (up 0.60%) will declare their result later today.

Buzzing Index:

The Nifty Realty index declined 1.14% to 886.50. The index jumped 14.92% in the past seven consecutive trading session.

Prestige Estates Projects (down 2.71%), Macrotech Developers (down 2.63%), Anant Raj (down 2%), Raymond (down 1.45%), Oberoi Realty (down 1.41%), Sobha (down 0.98%), Brigade Enterprises (down 0.78%), DLF (down 0.73%), Phoenix Mills (down 0.5%) declined.

Stocks in Spotlight:

Vascon Engineers soared 6.71% after the company has received a letter of intent worth Rs 225.46 crore from Royal Rides. The company needs to complete the work, which has been awarded on a design and build basis, within 36 months from the date of the letter of intent, it added.

Thyrocare Technologies surged 16.08% after the healthcare service provider reported a 22.05% increase in consolidated net profit to Rs 21.70 crore on a 21.34% rise in revenue from operations to Rs 187.16 crore in Q4 FY25 over Q4 FY24. Meanwhile, the Board has recommended a final dividend of Rs 21 per equity share for FY25, subject to shareholder approval.

360 ONE WAM declined 2.58%. The companys consolidated net profit rose 2.88% to Rs 249.60 crore in Q4 FY25 as compared with Rs 242.61 crore in Q4 FY24. Revenue from operations increased 3.74% YoY to Rs 820.77 crore during the quarter ended 31st March 2025.

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