BAROMETERS TRADE WITH LIMITED LOSSES; REALTY SHARES DECLINE

The key equity benchmarks traded with moderate losses in the morning trade. The Nifty traded below the 22,850 mark. Realty shares extended losses for the second day in a row.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 328.94 points or 0.46% to 75,575.99. The Nifty 50 index slipped 102.45 points or 0.45% to 22,826.80.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.62% and the S&P BSE Small-Cap index slipped 1.15%.

The market breadth was weak. On the BSE, 995 shares rose and 2,705 shares fell. A total of 168 shares were unchanged.

Economy:

India�s foreign exchange (forex) reserves jumped $7.654 billion to $638.261 billion in the week ended February 7, according to the latest RBI data released on Friday.

For the week ended February 7, foreign currency assets, a major component of the reserves, increased by $6.422 billion to $544.106 billion, the data released on Friday showed.

Gold reserves increased by $1.315 billion to $72.208 billion during the week. The special drawing rights (SDRs) were down by $11 million to $17.878 billion, according to the data.

India�s reserve position with the IMF was down by $71 million at $4.069 billion in the week under review, the RBI data showed.

New Listing:

Shares of Ajax Engineering were currently trading at Rs 575.30 at 10:10 IST on the BSE, representing a discount of 8.54% as compared with the issue price of Rs 629.

The scrip was listed at Rs 593, exhibiting a discount of 5.72% to the issue price.

So far, the stock has hit a high of 593 and a low of 565. On the BSE, over 3.28 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty IT index declined 1.69% to 817.40. The index slipped 3.4% in the past trading session.

Phoenix Mills (down 3.08%), Mahindra Lifespace Developers (down 2.91%), Raymond (down 2.44%), Godrej Properties (down 2.07%), Brigade Enterprises (down 0.98%), DLF (down 0.85%), Macrotech Developers (down 0.73%), Oberoi Realty (down 0.51%) and Sobha (down 0.22%) declined.

Stocks in Spotlight:

Zydus Lifesciences added 1.75% after the company announced that the US Food and Drug Administration (USFDA) conducted a surveillance inspection at the company�s active pharmaceutical ingredient (API) manufacturing facility located in Ambernath, Maharashtra.

Rites declined 1.28%. The company said that it has secured a major order for providing comprehensive engineering and project management services from NLC India worth Rs 466.55 crore.

Welspun Corp fell 2.24%. The company announced that it has received new orders worth Rs 3,000 crore for the supply of pipes in the US.

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