Partner With Us NRI

Barometers off the day`s low, Nifty above 17,900 mark; realty stocks decline

Published on Feb 17, 2023 14:38

The key equity benchmark pared some losses and came off day`s low in mid-afternoon trade. The Nifty traded above the 17,900 mark after hitting the day`s low at 17,884.60. Realty stocks witnessed significant selling pressure.

At 14: 26 IST, the barometer index, the S&P BSE Sensex, was down 413.37 points or 0.67% to 60,906.14. The Nifty 50 index lost 105.90 points or 0.59% to 17,929.95.

In the broader market, the S&P BSE Mid-Cap index slipped 0.61% while the S&P BSE Small-Cap index declined 0.16%.

The market breadth was negative. On the BSE, 1,383 shares rose and 1,994 shares fell. A total of 153 shares were unchanged.

Numbers to track:

The yield on India`s 10-year benchmark federal paper advanced to 7.378 from 7.342 previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.83, compared with its close of 82.7025 during the previous trading session

MCX Gold futures for 5 April 2023 settlement declined 0.91% to Rs 55716.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.65% to 104.53.

The United States 10-year bond yield advanced 1.58% to 3.904.

In the commodities market, Brent crude for April 2023 settlement declined $ 1.66 or 1.95% to $83.48 a barrel.

Buzzing Index:

The Nifty Realty index declined 1.84% to 403.40. The index had gained 1.33% in the past two trading sessions.

Macrotech Developers (down 3.51%), Indiabulls Real Estate (down 3.27%), Phoenix Mills (down 3.03%), Oberoi Realty (down 2.77%) and Godrej Properties (down 2.04%), DLF (down 2.03%), Sunteck Realty (down 1.14%) declined.

On the other hand, Prestige Estates Projects (up 2.62%), Brigade Enterprises (up 1.2%) and Sobha (up 1.03%) edged higher.

Stocks in Spotlight:

Dilip Buildcon rose 0.55%. The company`s its wholly owned subsidiary, Maradgi S Andola -Baswantpur Highways has executed a concession agreement with the National Highways Authority of India (NHAI) on 16 February 2023 for a road project in Karnataka.

Minda Corporation tumbled 4.25%. The company acquired 1,91,40,342 equity shares of Pricol, representing 15.70406% of the Pricol`s total issued and paid-up equity share capital. The said shares of Pricol have been acquired by Minda Corporation via the open market, at an average price of Rs 208.9820 per share aggregating to Rs 400 crore.

PTC Industries was locked in 10% upper circuit. Aerolloy Technologies (ATL), wholly owned subsidiary of PTC Industries, has received an order from Safran Aircraft Engines (SAE), for development and supply of Titanium cast components for aircraft engines.

Powered by Capital Market - Live News