Barometers trade with deep cuts; realty stocks edge lower
Published on Aug 19, 2022 14:30
The key equity benchmarks continued to trade with deep cuts in mid-afternoon trade. The Nifty 50 index traded tad below the 17,800 mark. Realty stocks recorded across the board selling. Negative global cues triggered profit selling in domestic shares following recent steep gains. The Nifty 50 index jumped 3.31% in the past eight trading sessions. The recent resurgence in the US dollar index also spooked investors.
At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 562.55 points or 0.93% to 59,735.45. The Nifty 50 index lost 164.60 points or 0.92% to 17,791.90.
The Nifty regained the 17,800 mark after hitting the day`s low of 17,727.70 in early afternoon trade. Banks, realty and financial shares dragged.
In the broader market, the S&P BSE Mid-Cap index shed 1.05% while the S&P BSE Small-Cap index declined 0.77%.
The market breadth was negative. On the NSE, 1359 shares rose and 2021 shares fell. A total of 113 shares were unchanged.
Numbers to Track:
The yield on India`s 10-year benchmark federal paper rose to 7.276 as compared with 7.242 at close in the previous trading session.
In the foreign exchange market, the rupee was lower against the dollar. The partially convertible rupee was hovering at 79.7950, compared with its close of 79.6400 during the previous trading session.
MCX Gold futures for 5 October 2022 settlement shed 0.15% to Rs 51,527.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.21% to 107.71.
In the commodities market, Brent crude for October 2022 settlement fell $1.43 or 1.48% to $95.16 a barrel.
The Nifty Realty index fell 2.37% to 448.45. The index had gained 3.14% in the past five sessions.
DLF (down 4.19%), Godrej Properties (down 2.83%), Macrotech Developers (down 2.72%), Sunteck Realty (down 2.43%) and Indiabulls Real Estate (down 2.14%) were the top losers.
Among the other losers were Phoenix Mills (down 1.43%), Prestige Estates Projects (down 1.31%), Oberoi Realty (down 1.01%) and Sobha (down 0.58%).
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