Nifty trades below 23,650; realty shares under pressure

The headline equity benchmarks traded with limited losses in the morning trade, as optimism surrounding an impending rate cut outweighed concerns over escalating global trade tensions. The Nifty traded below the 23,650 mark. Realty shares extended losses for the two consecutive trading sessions. Trading was volatile due to the weekly Nifty 50 F&O series expiry today.

At 10:30 ST, the barometer index, the S&P BSE Sensex, declined 178.37 points or 0.23% to 78,089.88. The Nifty 50 index fell 62.05 points or 0.26% to 23,634.25.

In the broader market, the S&P BSE Mid-Cap index shed 0.15% and the S&P BSE Small-Cap index rose 0.27%.

The market breadth was strong. On the BSE, 2,055 shares rose and 1,379 shares fell. A total of 178 shares were unchanged.

Result Today:

State Bank of India (SBI) (down 0.29%), Hero Motocorp (up 0.76%), ITC (down 1.18%), Britannia Industries (up 0.01%), Trent (down 1.14%), Bharti Airtel (down 0.86%), PI Industries (down 0.72%), Ramco Cements (down 2.17%), Uno Minda (down 0.03%), PVR Inox (up 1.28%), Finolex Industries (up 0.67%), Bharat Dynamics (up 0.70%), Cochin Shipyard (up 0.69%), BEML (up 0.06%), Aurobindo Pharma (up 0.74%), Apollo Tyres (down 0.33%), ZF Commercial Vehicle Control Systems India (down 0.26%), TD Power Systems (up 2.24%), Walchandnagar Industries (up 0.49%), Emcure Pharmaceuticals (up 2.45%), Somany Ceramics (down 0.52%), Sai Life Sciences (up 1.44%), Reliance Communications (up 4.88%), PG Electroplast (up 3.61%), NMDC (up 0.23%), Motherson Sumi Wiring India (down 0.43%), NCC (down 0.46%), Minda Corporation (down 0.37%), NOCIL (up 0.67%), Muthoot Microfinance (down 1.11%), KIMS (up 0.89%), JK Lakshmi Cement (up 1.11%), Gulf Oil Lubricants (down 0.32%), Dhampur Sugar Industries (up 0.37%), Bharti Hexacom (down 0.68%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Realty index lost 0.90% to 928.90. The index fell 0.89% in two consecutive trading sessions.

Macrotech Developers (down 3.55%), Phoenix Mills (down 2.35%), Brigade Enterprises (down 1.86%), Prestige Estates Projects (down 1.01%), Mahindra Lifespace Developers (down 0.91%), Sobha (down 0.86%), Godrej Properties (down 0.45%), Oberoi Realty (down 0.17%) declined.

Stocks in Spotlight:

Vishnu Prakash R Punglia fell 1.25%. The company received a letter of award from Bharat Heavy Electricals (BHEL) for a significant civil construction project at NTPCs 800 MW Sipat Project.

Oswal Greentech rallied 2.46% after the company announced that it has acquired a 4.97% stake in Oswal Agro Mills (OAML) by purchasing shares at a price of Rs 69 each, for a total consideration of Rs 46.17 crore.

Reliance Power jumped 8.97% after the company reported consolidated net profit of Rs 41.95 crore in Q3 FY25 as compared with net loss of Rs 1136.75 crore in Q3 FY24. Net sales fell 4.7% YoY to Rs 1,852.84 crore in Q3 FY25.

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