Benchmarks hit day`s high; realty shares slide

The domestic equity barometers hit fresh intraday high in afternoon trade. The Nifty hovered around the 17,350 level. Realty stocks extended losses for the second consecutive session.

At 13:27 IST, the barometer index, the S&P BSE Sensex, was up 136.94 points or 0.24% to 58,028.95. The Nifty 50 index gained 43.60 points or 0.25% at 17,348.90.

Coal India (up 2.76%), SBI Life (up 2.74%), HDFC (up 1.34%), Grasim (up 1.01%) and SBI (up 0.90%) were the top index gainers.

Cipla (down 2.22%), ONGC (down 2.10%), Divi`s Lab (down 1.92%), Ultratech Cement (down 1.50%) and Shree Cement (down 1.31%) were the top index losers.

In the broader market, the S&P BSE Mid-Cap index fell 0.28% while the S&P BSE Small-Cap index slipped 0.18%.

The market breadth was negative. On the BSE, 1,388 shares rose and 1,883 shares fell. A total of 121 shares were unchanged.

Buzzing Index:

The Nifty Realty index slipped 0.31% to 453.30. The index has lost 0.55% in two sessions.

Indiabulls Real Estate (down 1.53%), Sobha Developers (down 1.15%), Sunteck Realty (down 0.96%), DLF (down 0.88%), The Phoenix Mills (down 0.71%), Brigade Enterprises (down 0.70%) and Godrej Properties (down 0.68%) declined.

Stocks in Spotlight:

Ambuja Cements dropped 5.13% to Rs 340.95. The company recorded 49.4% fall in standalone net profit to Rs 252 crore despite a 6.1% increase in net sales to Rs 3,679 crore in Q4 CY2021 over Q4 CY2020. Sales volume (cement + clinker) in Q4 CY21 was 7.2 million tons (up 3% Y-o-Y).

Hero MotoCorp added 0.78% to Rs 2799.05. The two-wheeler major has inaugurated its new dealership - Surya Hero in Jaipur, Rajasthan. Surya Hero will act as a one-stop-shop for all the sales and customer service requirements, in addition to offering the latest range of Hero-branded merchandise and accessories at the dealership.

Lupin shed 0.23% to Rs 769.75. The company, on Thursday, announced that the USFDA has approved the company`s supplemental New Drug Application to expand the use of SOLOSEC (secnidazole) in the treatment of bacterial vaginosis.

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