SENSEX SLIPS 305 PTS; REALTY SHARES UNDER PRESSURE

The key equity indices traded with moderate losses in the morning trade. The Nifty traded below the 23,300 level. Realty shares extended losses for the fourth consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, declined 305.58 points or 0.40% to 77,067.87. The Nifty 50 index fell 111.80 points or 0.48% to 23,316.75.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.49% and the S&P BSE Small-Cap index shed 1.42%.

The market breadth was weak. On the BSE, 889 shares rose and 2,869 shares fell. A total of 161 shares were unchanged.

Result Today:

HCL Technologies (rose 0.85%), Angel One (down 1.01%), Anand Rathi Wealth (down 2.368%), Delta Corp (down 3.88%), Den Networks (down 3.02%), Himadri Speciality Chemical (down 3.02%), Lotus Chocolate Co (up 2.24%), and Marathon Nextgen Realty (down 1.10%) will declare their results later today.

Economy:

India`s foreign exchange reserves fell by $5.7 billion to $634.59 billion for the week ended January 3, data released by the Reserve Bank of India (RBI) on Friday showed.

Foreign currency assets decreased by $6.441 billion to $545.48 billion, the data released on Friday showed.

Gold reserves increased by $824 million to $67.092 billion during the week. The Special Drawing Rights (SDRs) were down by $58 million to $17.815 billion, the RBI said.

India�s reserve position with the IMF was down by $18 million at $4.199 billion in the reporting week, the apex bank data showed.

New Listing:

Shares of Standard Glass Lining Technology were currently trading at Rs 177.70 at 10:21 IST on the BSE, representing a premium of 26.93% as compared with the issue price of Rs 140.

The scrip was listed at Rs 176, exhibiting a premium of 25.71% to the issue price.

So far, the stock has hit a high of 181.05 and a low of 163.85. On the BSE, over 22.26 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index fell 2.89% to 935.50. The index tumbled 8.29% in four consecutive trading sessions.

Macrotech Developers (down 4.26%), Phoenix Mills (down 3.47%), Prestige Estates Projects (down 2.84%), Sobha (down 2.83%) and Raymond (down 2.63%), Brigade Enterprises (down 2.38%), Oberoi Realty (down 2.37%), Mahindra Lifespace Developers (down 2.01%), Godrej Properties (down 1.96%) and DLF (down 1.77%) declined.

Stocks in Spotlight:

Grasim Industries slipped 1.69% after the company informed about a minor process safety incident that occurred at its Karwar plant in Karnataka on 11th January 2025, caused by a technical malfunction due to power tripping.

Biocon jumped 3.55% after the company said that the U.S. Food and Drug Administration (FDA) has classified Biocon Biologics� Insulins facilities in Johor Bahru, Malaysia as voluntary action indicated (VAI).

Signatureglobal (India) fell 1.93%. The company said that it has executed a sale deed for acquiring 16.12 acres land in Gurgam, Haryana.

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