NIFTY TRADE NEAR 20,950; REALTY STOCKS SLIDE

The key equity indices traded with major gains in mid-afternoon trade. The Nifty traded near the 20,950 mark. Realty shares declined for two consecutive trading session.

At 14:30 AM IST, the barometer index, the S&P BSE Sensex, was up 374.34 points or 0.54% to 69,670.48. The Nifty 50 index added 86.50 points or 0.41% to 20,941.60.

The Sensex clocked an all-time high of 69,687.91 in mid-afternoon trade while the Nifty hit record high of 20,958.65 in morning trade. Further, the Nifty Bank index also registered its fresh record high of 47,259.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.22% while the S&P BSE Small-Cap index gained 0.15%.

The market breadth was negative. On the BSE, 1,846 shares rose, and 1,877 shares fell. A total of 135 shares were unchanged.

Buzzing Index:

The Nifty Realty index declined 0.37% to 731.60. The index fell 0.83% in two trading sessions.

Prestige Estates Projects (down 3.64%), Sobha (down 2.82%), Brigade Enterprises (down 2.59%), Phoenix Mills (down 1.56%), Swan Energy (down 1.09%),Mahindra Lifespace Developers (down 0.95%) and Macrotech Developers (down 0.75%) declined.

On the other hand, Godrej Properties (up 1.64%) ,Oberoi Realty (up 1.14%) and DLF (up 0.71%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell 0.25% to 7.244 as compared with previous close 7.262.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3375, compared with its close of 83.3700 during the previous trading session.

MCX Gold futures for 5 February 2023 settlement rose 0.17% to Rs 62,289.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.01% to 104.04.

The United States 10-year bond yield advanced 0.17% to 4.174.

In the commodities market, Brent crude for February 2024 settlement rose 8 cent or 0.10% to $77.28 a barrel.

Stocks in Spotlight:

Himadri Speciality Chemical jumped 3.63% after the company�s board approved to set up manufacturing facility for the production of Lithium-ion Battery (LiB) components with annual capacity of 200,000 MT through subsidiaries.

Greenpanel Industries fell 0.13 % after the company informed that operations at MDF plant located at Chittor, Andhra Pradesh, has been disrupted due to Cyclone Michaung.

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