Sensex slumps 480 pts; realty shares slide

The key equity benchmarks traded with modest losses in mid-morning amid profit booking. The Nifty traded below the 25,700 level. Realty shares declined after advancing in the past trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, dropped 479.99 points or 0.57% to 83,254.26. The Nifty 50 index fell 131.35 points or 0.51% to 25,688.85.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index slipped 0.49% and the BSE 250 SmallCap Index fell 0.16%.

The market breadth was positive. On the BSE, 1,656 shares rose and 2,114 shares fell. A total of 215 shares were unchanged.

 

Buzzing Index:

The Nifty Realty index declined 1.43% to 827.30. The index rose 0.62% in the past trading session.

Lodha Developers (down 1.81%), Phoenix Mills (down 1.67%), DLF (down 1.67%), Prestige Estates Projects (down 1.52%), Godrej Properties (down 1.11%), Oberoi Realty (down 1.04%), SignatureGlobal India (down 0.28%), and Sobha (down 0.09%) fell.

Stocks in Spotlight:

Tata Consultancy Services rose 0.77%. The company announced a multi-dimensional strategic partnership with OpenAI to drive AI-powered innovation across enterprise, consumer, and social sectors.

B. L. Kashyap and Sons jumped 2.37% after it secured a contract worth Rs 300 crore from CRC Greens for a group housing project in Greater Noida, Uttar Pradesh.

Rail Vikas Nigam (RVNL) shed 0.52%. The company received a letter of acceptance (LoA) from Northern Railway for a project worth Rs 1,201.35 crore.

Global Markets:

Asian stocks rose on Thursday, supported by gains in technology giants on Wall Street, while lingering U.S.-Iran tensions kept oil prices on the boil.

Hong Kong and mainland China markets remain closed for the Lunar New Year break.

Oil prices edged higher as investors digested the latest developments between the U.S. and Iran. Vice President JD Vance reportedly said Tuesday that Iran failed to address U.S. red lines in this weeks nuclear talks and that military action is still a possibility.

Overnight in the U.S., the S&P 500 moved higher, supported by gains in key technology names, as traders weighed the release of the minutes from the Federal Reserves most recent policy meeting.

The broad-based index climbed 0.56% to end at 6,881.31, while the Nasdaq Composite added 0.78% to settle at 22,753.63. The Dow Jones Industrial Average added 0.26% to close at 49,662.66.

Investors mulled over the minutes from the Feds January meeting, which revealed that participants largely approved of the central banks decision to leave its key interest rate unchanged at a range of 3.5% to 3.75%. However, officials were divided on the direction of monetary policy thereafter.

Powered by Capital Market - Live News