Nifty above 23,300; realty shares rally

The key domestic indices traded with small gains in morning trade. The Nifty traded above the 23,300 level. Realty shares extended gains for the five consecutive trading sessions.

At 10:29 ST, the barometer index, the S&P BSE Sensex, was up 170.93 points or 0.22% to 76,656.45. The Nifty 50 index added 60.70 points or 0.26% to 23,319.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.65 % and the S&P BSE Small-Cap index added 0.87%.

The market breadth was strong. On the BSE, 2,493 shares rose and 1,025 shares fell. A total of 112 shares were unchanged.

Buzzing Index:

The Nifty realty index gained 1.58% to 1,100.80. The index soared 12.77% in the five consecutive trading sessions.

DLF (up 2.24%), Prestige Estates Projects (up 1.97%), Phoenix Mills (up 1.76%), Godrej Properties (up 1.74%) Oberoi Realty (up 1.62%), Sobha (up 1.41%), Mahindra Lifespace Developers (up 1.2%), Sunteck Realty (up 1%), Brigade Enterprises (up 0.85%) advanced.

Stocks in Spotlight:

NLC India added 2.05% after the company raised foreign currency loans up to $600 million and it will make an investment of Rs 994.5 crore in unit NLC India Renewables. To seek external assistance from the Multilateral Development Bank via DEA tor renewable power projects.

Jubilant Foodworks rose 1.36% after the company announced Dominos Pizza crossed the 2,000-store mark in India.

Vodafone Idea shed 0.38%. The company said that it will consider fund-raising in its board meeting on June 13th.

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