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Barometers pare gains; realty shares advance

Published on Jan 08, 2024 10:31

The key equity indices gave up early gains and slipped into negative terrain in morning trade. The Nifty traded below the 21,700 level. Realty shares edged higher for the fourth consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was down 40.05 points or 0.06% to 71,9860.10. The Nifty 50 index lost 15.50 points or 0.071% to 21,695.30.

In the broader market, the S&P BSE Mid-Cap index decreased 0.21% and the S&P BSE Small-Cap index shed 0.02%.

The market breadth was negative. On the BSE, 2,005 shares rose and 1,689 shares fell. A total of 150 shares were unchanged.

Buzzing Index:

The Nifty Realty rose 0.98% to 852.65. The index jumped 9.53% in four trading sessions.

Phoenix Mills (up 2.34%), Macrotech Developers (up 2.07%), DLF (up 1.08%), Prestige Estates Projects (up 0.87%) and Swan Energy (up 0.09%) edged higher.

Stocks in Spotlight:

Godrej Industries jumped 3.94% after the firm announced that its chemical division has signed a memorandum of understanding (MoU) with the Government of Gujarat to invest Rs 600 crore in Valia over the next four years.

Godrej Consumer Products declined 4.52% after the FMCG company reported double-digit growth in volume terms in India for December quarter, with the operating environment remaining similar to the second quarter.

Force Motors rallied 2.82% after the company registered 16.82% increase in domestic sales to 2,174 units in December 2023 from 1,861 units sold in December 2022.

Jupiter Wagons advanced 3.55% after the company announced the receipt of a contract from one of the leading automobile manufacturers for the manufacturing and supply of 4 rakes of Double Decker Automobile Carrier Wagons worth around Rs 100 crores.

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