Sensex gains 219 pts; realty shares rally for 3rd day

The domestic equity benchmarks continued to trade with limited gains in morning trade. The Nifty traded above the 21,700 level. Realty shares rallied for the third consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 218.83 points or 0.30% to 72,065.95. The Nifty 50 index added 70.65 points or 0.33% to 21,729.25.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index gained 0.86%.

The market breadth was strong. On the BSE, 2,559 shares rose and 1,018 shares fell. A total of 148 shares were unchanged.

Buzzing Index:

The Nifty Realty index rallied 1.33% to 852.45. The index jumped 9.51% in three trading sessions.

Phoenix Mills (up 6.23%), Swan Energy (up 2.62%), Brigade Enterprises (up 1.57%), Macrotech Developers (up 1.49%) and DLF (up 0.95%), Mahindra Lifespace Developers (up 0.63%), and Godrej Properties (up 0.52%) edged higher.

Macrotech Developers gained 1.49% after the company said that it has recorded pre-sales of Rs 3,410 crore in Q3 FY24, which is higher by 12% when compared with the pre-sales of Rs 3,040 crore recorded in Q3 FY23. The company�s collections for Q3 FY24 added up to Rs 2,590 crore, down 3% YoY and down 6% sequentially.

Stocks in Spotlight:

HDFC Bank shed 0.36%. The private lender`s gross advances aggregated to approximately Rs 24,69,500 crore as of 31 December 2023, recording a growth of around 62.4% as against Rs 15,20,500 crore as of 31 December 2022.

Power Finance Corporation added 0.11%. The board has approved a revision in market borrowing programme of the company from Rs 80,000 crore to Rs 1,05,000 crore for FY 2023-24.

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