Nifty hovers above 24,600; realty stocks in demand

The domestic equity benchmarks continued to trade with decent gains in morning trade. The Nifty hovered above 24,600 level. Realty shares advanced for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 182.04 points or 0.23% to 80,846.90. The Nifty 50 index rose 53 points or 0.22% to 24,639.70 .

Nifty50 index hit an all-time high at 24,650.05 in early trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.66%.

The market breadth was strong. On the BSE, 2,259 shares rose and 1,301 shares fell. A total of 156 shares were unchanged.

Buzzing Index:

The Nifty Realty index rose 1.79% to 1,127.75. The index advanced 2.18% in two trading sessions.

Sunteck Realty (up 9.18%), Brigade Enterprises (up 3.46%), Prestige Estates Projects (up 2.7%), Phoenix Mills (up 1.74%), Godrej Properties (up 1.42%), Oberoi Realty (up 1.36%), Sobha (up 1.26%), DLF (up 0.76%), Macrotech Developers (up 0.7%) and Mahindra Lifespace Developers (up 0.5%) edged higher.

Stocks in Spotlight:

Lemon Tree Hotels rose 0.34%. The company announced its entry in Jharkhand with the opening of Lemon Tree Hotel, Centre Point, Jamshedpur. This hotel features 42 well-appointed rooms, Slounge a hip recreation bar, Republic of Noodles the award winning Pan-Asian restaurant, a banquet, a fully equipped fitness center and other public areas.

Hindustan Unilever (HUL) added 0.89%. The firm said that it has signed an agreement with A. O. Smith, a leading global water technology company, for the sale of its Indian water purification business, which was carried under the 'Pureit brand.

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