NIFTY TRADES BELOW 26,000 LEVEL; REALTY SHARES DECLINE

The key equity benchmarks traded with modest losses in mid-morning trade as investors stayed cautious amid FII selling. The Nifty traded below the 26,000 level. Realty shares tumbled for second consecutive trading session.

At 11:25 ST, the barometer index, the S&P BSE Sensex dropped 283.06 points or 0.33% to 84,758.39. The Nifty 50 index lost 71.10 points or 0.27% to 25,970.20.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index added 0.39%, while the S&P BSE Small-Cap index declined 0.50%.

The market breadth was weak. On the BSE, 1,472 shares rose and 2,550 shares fell. A total of 232 shares were unchanged.

Buzzing Index:

The Nifty Realty index declined 0.57% to 878.15. The index dropped 0.79% in the two consecutive trading sessions.

Anant Raj (down 2.37%), Phoenix Mills (down 0.82%), Prestige Estates Projects (down 0.71%), SignatureGlobal India (down 0.51%), DLF (down 0.46%), Lodha Developers (down 0.45%), Brigade Enterprises (down 0.41%) and Sobha (down 0.36%) declined.

Stocks in Spotlight:

Ceigall India rallied 2.29% after the company�s subsidiary, Ceigall Infra Projects has received a LoA from Madhya Pradesh Road Development Corporation for the construction of the Indore�Ujjain access-controlled four-lane greenfield highway.

Vikran Engineering surged 5.31% after it has secured letter of awards (LoA) from M.P. Urja Vikas Nigam for the implementation of power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.

Jindal Steel advanced 1.86% after the company announced a significant expansion of its structural steel manufacturing capabilities at its Raigarh facility. This expansion would double the company�s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.

Global Markets:

Most Asian markets advanced on Monday as investors kicked off the final trading week of the year.

Prices of spot silver rose to a fresh record high of above $80 per ounce before pulling back sharply to $77. Silver�s recent surge was driven by speculative buying and lingering supply tightness, said experts.

Media report further stated silver�s rally this year reflects a depletion of freely traded inventory, amplifying price moves as demand increases.

On Friday stateside, the S&P 500 reached a new high and posted weekly gains as traders came back from the Christmas holiday.

The broad market index closed down 0.03% to end at 6,929.94. At its high, the S&P 500 was up 0.2%, reaching 6,945.77. The Nasdaq Composite slipped 0.09% and closed at 23,593.10. The Dow Jones Industrial Average fell 20.19 points, or 0.04%, and settled at 48,710.97.

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