Barometers turn range bound; realty stocks slide

The benchmark indices traded in a narrow range with limited losses in morning trade. The Nifty hovered below the 19,400 level. Realty shares witnessed profit booking after gaining in the past seven trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 181.56 points or 0.28% to 64,777.13. The Nifty 50 index lost 39.20 points or 0.20% to 19,372.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.14% while the S&P BSE Small-Cap index gained 0.19%.

The market breadth was positive. On the BSE, 1,930 shares rose and 1,346 shares fell. A total of 194 shares were unchanged.

Earnings Today:

Shree Cement (up 1.04%), Trent (down 1.18%), Zydus Lifesciences (up 1.51%), Indian Railway Catering And Tourism Corporation (up 0.83%), Cummins India (up 0.19%), Alkem Laboratories (up 1.14%), Uno Minda (up 2.01%), Prestige Estates Projects (up 1.19%), Crisil (up 0.07%), Deepak Nitrite (down 1.46%), Apollo Tyres (down 2.40%), Devyani International (up 3.25%), J.B.Chemicals & Pharmaceuticals (down 0.01%), Vinati Organics (up 0.39%), Krishna Institute Of Medical Sciences (up 2.29%), Alembic Pharmaceuticals (down 0.46%), Jyothy Labs (up 0.58%), Cochin Shipyard (up 2.79%), Alkyl Amines Chemicals (up 0.67%) will announce their quarter results later today.

D B Realty (up 2.65%), Balrampur Chini Mills (down 0.07%), Schneider Electric Infrastructure (up 0.93%), Gujarat State Fertilizers & Chemicals (down 1.80%), Varroc Engineering (up 2.22%), Kirloskar Brothers (up 0.65%), Avanti Feeds (down 0.32%), Rain Industries (down0.45%), Dilip Buildcon (up 0.87%), Arvind Fashions (up 0.27%), Lux Industries (up 3.25%), India Tourism Development Corporation (up 0.12%), Ideaforge Technology (up 3.63%), Yatharth Hospital & Trauma Care Services (up 0.60%), V.S.T. Tillers Tractors (down 0.91%), Mold-Tek Packaging (down 0.40%), Greaves Cotton (up 0.23%), Zaggle Prepaid Ocean Services (down 1.95%), Eveready Industries India (down 1.25%), Lumax Industries (down 1.27%) are some of the other companies that will announce their quarterly results today.

New Listing:

Shares of Honasa Consumer were currently trading at Rs 330.90 at 10:24 IST on the BSE, representing a premium of 2.13% as compared with the issue price of Rs 324.

The scrip was listed at Rs 324, matching the initial public offer (IPO) price. So far, the stock has hit a high of 337.60 and a low of 322.70. On the BSE, over 3.73 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index fell 0.78% to 646.45. The index had surged 13.93% in the past seven trading sessions.

Swan Energy (down 2.5%), Sobha (down 2.42%), Macrotech Developers (down 1.51%), Oberoi Realty (down 1.29%), Phoenix Mills (down 0.88%), Brigade Enterprises (down 0.62%) and Godrej Properties (down 0.14%) edged lower.

On the other hand, Prestige Estates Projects (up 1.92%) ,Mahindra Lifespace Developers (up 1.49%) and DLF (up 0.2%) advanced.

Stocks in Spotlight:

Dynacons Systems rose 0.01%. Dynacons has established a Security Operations Center (SOC) in India to protect their clients` assets, data, and privacy from cybersecurity threats. The SOC offers 24/7 monitoring, threat detection, and incident response using advanced technology such as network security monitoring, endpoint detection and response (EDR), and threat intelligence integration.

FSN E-Commerce Ventures (Nykaa) rallied 2.20% after the company�s consolidated net profit jumped 50.29% to Rs 7.80 crore in Q2 FY24 as compared with Rs 5.19 crore in Q2 FY23. Revenue from operations increased 22.44% YoY to Rs 1507.02 crore in Q2 FY24, This is despite the festive season witnessing a delay this year, moving into October versus commencing in September last year.

Emami shed 0.30%. The FMCG goods maker has reported 3.1% fall in consolidated net profit to Rs 178.53 crore in Q2 FY24 from Rs 807.36 crore in Q2 FY23. Net sales rose by 5.5% to Rs 851.44 crore in the second quarter from Rs 807.36 crore recorded in the same period last year.

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