BAROMETERS TRADE WITH MINOR CUTS, REALTY SHARES SLIDES
Published on Feb 29, 2024 10:36
The key equity benchmarks traded with moderate losses in morning trade. The Nifty traded below 21,900 after hitting day�s high of 22,022.40 in early trade. Realty shares extended losses for second consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 131.43 points or 0.18% to 72,173.45. The Nifty 50 index lost 64.05 points or 0.29% to 21,887.10.
In the broader market, The S&P BSE Mid-Cap index shed 0.47% and the S&P BSE Small-Cap index fell 0.76%.
The market breadth was weak. On the BSE, 1,242 shares rose and 2,285 shares fell. A total of 150 shares were unchanged.
Economy:
The National Statistical Office (NSO) is scheduled to release the official third quarter GDP data today. India�s economic growth is likely to moderate in the range of 6 to 6.8% in the third quarter of the current financial year, sharply lower than 7.6% expansion recorded in the previous quarter, as per reports.
New Lisitng:
Shares of GPT Healthcare were currently trading at Rs 202.10 at 10:39 IST on the BSE, representing a premium of 6.50% as compared with the issue price of Rs 186.
The scrip was listed at Rs 216.15, exhibiting a premium of 16.21% to the issue price.
So far, the stock has hit a high of 219.70 and a low of 200.20. On the BSE, over 6.91 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty Realty index declined 1.18% to 898.75. The index fell 3.27% in two trading sessions.
Macrotech Developers (down 2.74%), Prestige Estates Projects (down 1.62%), Mahindra Lifespace Developers (down 0.94%), DLF (down 0.51%) and Phoenix Mills (down 0.38%) declined.
On the other hand, Brigade Enterprises (up 4.05%), Swan Energy (up 0.55%) and Oberoi Realty (up 0.51%) edged higher.
Stocks in Spotlight:
PB Fintech: Insurance Regulatory and Development Authority of India (IRDAI), has granted Certificate of Registration to Policybazaar Insurance Brokers Private Limited (Policybazaar), a wholly owned subsidiary of the company to act as Composite Insurance Broker under IRDAI (Insurance Brokers) Regulations, 2018 (�Regulations�) with effect from 28 February 2024. With grant of new Certificate of Registration, the category has been changed from Direct Insurance Broker (Life & General) to Composite Insurance Broker.
Oil India fell 2.18%. The meeting of the board of directors of the company is scheduled on 08 March 2024 to consider and approve second interim dividend for Financial Year 2023-24.
JSW Steel rose 0.04%. The company has incorporated a new Wholly-owned Subsidiary �JSW Green Steel� for manufacture of hot-rolled and coldrolled products of steel which is in line with the main line of business of the company.
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