Sensex, Nifty pare losses; realty shares rally

The frontline indices erased all losses and traded with minor gains mid-afternoon trade. The Nifty traded above the 22,500 level after hitting the days low of 22,314.70 in early trade. Realty shares advanced after declining in the past three consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex rose 31.06 points, or 0.04%, to 74,148.43. The Nifty 50 index added 43.30 points, or 0.19%, to 22,503.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.70% and the S&P BSE Small-Cap index declined 0.58%.

The market breadth was weak. On the BSE, 1,368 shares rose and 2,527 shares fell. A total of 127 shares were unchanged.

Buzzing Index:

The Nifty Realty index jumped 3.70% to 829.25. The index dropped 3.36% in the past three consecutive trading sessions.

Phoenix Mills (up 5.95%), Macrotech Developers (up 5.71%), DLF (up 4.13%), Godrej Properties (up 3.66%), Oberoi Realty (up 3.59%) and Sobha (up 1.14%) advanced.

On the other hand, Mahindra Lifespace Developers (down 1.74%), Raymond (down 1.71%) and Brigade Enterprises (down 0.45%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.02% to 6.812 as compared with previous close 6.810.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.2275, compared with its close of 87.3100 during the previous trading session.

MCX Gold futures for 4 April 2025 settlement rose 0.50% to Rs 85,850.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.48% to 103.42.

The United States 10-year bond yield fell 0.43% to 4.195.

In the commodities market, Brent crude for May 2025 settlement gained 23 cents, or 0.33% to $69.51 a barrel.

Stocks in Spotlight:

Thermax slipped 1.52%. The company said that Thermax Chemical Solutions has entered into an exclusive shareholders agreement with Oswaldo Cruz Quica Indtria e Comcio Ltda for manufacturing high-performance chemicals.

E2E Networks dropped 4.16%. The company said that its cloud platform, E2E Cloud has launched sovereign cloud platform, providing a secure and scalable alternative for organizations looking to build and manage their own cloud environments.

Sterling and Wilson Renewable Energy declined 3.38%. The company said that its board has approved the appointment of Ajit Pratap Singh as a chief financial officer (CFO) and key managerial personnel (KMP) with effect from 24 March 2025.

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