Indices trade higher; realty shares advance

The key equity barometers traded with significant gains in the early afternoon trade as inflation eased to a five-month low, according to data released by the government. The Nifty hovered above the 23,150 mark after hitting the day's low of 22,992.20 in early trade. Realty shares jumped after declining for the past three trading sessions. Trading was volatile due to the weekly Nifty 50 F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex, gained 464.23 points or 0.61% to 76,635.31. The Nifty 50 index added 151.85 points or 0.66% to 23,197.10.

In the broader market, the S&P BSE Mid-Cap index jumped 1.03%, and the S&P BSE Small-Cap index rallied 0.61%.

The market breadth was strong. On the BSE, 2,397 shares rose and 1,366 shares fell. A total of 139 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.91% to 14.61. The Nifty 27 February 2025 futures were trading at 23,275, at a premium of 77.9 points as compared with the spot at 23,197.10.

The Nifty option chain for the 27 February 2025 expiry showed a maximum call OI of 57.7 lakh contracts at the 24,000 strike price. Maximum put OI of 58.8 lakh contracts was seen at 23,000 strike price.

Buzzing Index:

The Nifty Realty index advanced 1.41% to 851.20. The index dropped 7.25% in the previous three consecutive trading sessions.

Godrej Properties (up 5.04%), Prestige Estates Projects (up 2.07%), DLF (up 1.98%), Brigade Enterprises (up 1.3%), Raymond (up 1.03%), Sobha (up 0.4%) and Macrotech Developers (up 0.28%) advanced.

On the other hand, Mahindra Lifespace Developers (down 1.56%), Oberoi Realty (down 0.16%) and Phoenix Mills (down 0%) edged lower.

Stocks in Spotlight:

Natco Pharma tanked 17.95% after the companys consolidated net profit declined 37.75% to Rs 132.4 crore on 37.41% drop in revenue from operations to Rs 474.8 crore in Q3 FY25 over Q3 FY24.

Godawari Power and ISPAT declined 1.99% after the company's consolidated net profit dropped 36.85% to Rs 144.78 crore on 0.86% decrease in revenue from operations to Rs 1,297.60 crore in Q3 FY25 over Q3 FY24.

NIBE tumbled 7.96% after the companys consolidated net profit declined 56.23% to Rs 1.93 crore in Q3 FY25 as against Rs 4.41 crore posted in Q3 FY24. Revenue from operations was at Rs 148.68 crore in Q3 FY25, zoomed 137.16% as against Rs 62.69 crore posted in same quarter last year.

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