Sensex rises 195 pts; realty shares jumps
At 10:29 ST, the barometer index, the S&P BSE Sensex, was up 195.69 points or 0.26% to 76,805.30. The Nifty 50 index rose 61.65 points or 0.26% to 23,379.10.
The Sensex and Nifty clocked an all-time high of 77,145.46 and 23,481.05 respectively in early trade.
In the broader market, the S&P BSE Mid-Cap index added 0.67% and the S&P BSE Small-Cap index rose 0.61%.
The market breadth was strong. On the BSE, 2,343 shares rose and 1,200 shares fell. A total of 168 shares were unchanged.
Economy :
Indias annual inflation rate based on all India Consumer Price Index (CPI) number came in at 4.75% for the month of May, 2024, according to government data released on Wednesday. Corresponding inflation rate for rural and urban is 5.28% and 4.15%, respectively. The Consumer Price Index (CPI) based retail inflation was 4.83% in April 2024 and 4.31% in May 2023. Inflation in the food basket was 8.69% in May, marginally down from 8.70% in April, according to the data released by the National Statistical Office (NSO).
India's industrial production grew 5% in April this year mainly due to good show by mining and power sectors, according to official data released on Wednesday. The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4.6% in April 2023. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of April 2024 over April 2023 are 6.7%, 3.9% and 10.2% respectively.
Buzzing Index:
The Nifty Realty index added 2.20% to 1,119.50. The index shed 0.4% in the previous consecutive trading session.
Sobha (up 6.33%), Macrotech Developers (up 4.38%), Godrej Properties (up 2.79%), Prestige Estates Projects (up 1.92%), DLF (up 1.48%), Brigade Enterprises (up 0.94%), Oberoi Realty (up 0.86%), Mahindra Lifespace Developers (up 0.73%) edged higher.
Sobha jumped 6.30% after the companys board approved the rights issue to open on June 28 and close on July 4 at a price of Rs 1,651 per share.
Stocks in Spotlight:
Amber Enterprises India slipped 2.28%. The company acquired an additional 4.6% stake in IL JIN Electronics for Rs 33 crore.
Dr. Reddys Laboratories rose 0.04%. The companys step-down subsidiary, Dr. Reddys USA and Ingenus Pharmaceuticals have entered into a license agreement under which Dr. Reddys USA has licensed from Ingenus the exclusive rights to commercialise cyclophosphamide injection RTD in the United States.
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