BENCHMARKS PARE SOME LOSSES; REALTY SHARES DECLINE

The key equity indices pared some losses but traded in negative terrain in morning trade. Market could be volatile as the monthly Nifty50 F&O contracts are set to expire today. The Nifty traded above the 24,300 level after hitting day�s low of 24,239.45 in early trade.

Realty shares declined after rallying for seven consecutive trading sessions.

Investors will also closely watch the market�s response to India�s latest diplomatic and economic measures against Pakistan, announced following Tuesday`s terrorist attack in Pahalgam in Jammu & Kashmir, which claimed 26 lives. These measures include the suspension of the Indus Waters Treaty, shutting down the Wagah-Attari border, cancelling visas for Pakistanis, along with other measures.

At 10:25 IST, the barometer index, the S&P BSE Sensex shed 79.16 points or 0.10% to 80,038.43. The Nifty 50 index declined 19.90 points or 0.08% to 24,309.45.

The broader market outperformed the fronline indices. The S&P BSE Mid-Cap index jumped 0.24% and the S&P BSE Small-Cap index added 0.38%.

The market breadth was strong. On the BSE, 2,171 shares rose and 1,248 shares fell. A total of 213 shares were unchanged.

Economy:

On the macroeconomic front, the World Bank on Wednesday revised its growth outlook for India, trimming its forecast by 0.4 percentage points to 6.3% for the current fiscal year. The revision reflects rising global uncertainty, which the institution warned could dampen growth prospects across South Asia.

Earnings Today:

Axis Bank (up 0.51%), Hindustan Unilever (up 2.06%), Nestle India (up 3.17%), Tech Mahindra (up 0.83%), Mphasis (up 0.69%), SBI Cards and Payment Services (down 0.42%), Supreme Industries (down 0.64%), Tanla Platforms (up 0.57%), Waaree Technologies (up 2%), Laurus Labs (up 1.22%), Indian Energy Exchange (IEX) (up 0.60%) will declare their result later today.

Buzzing Index:

The Nifty Realty index declined 1.14% to 886.50. The index jumped 14.92% in the past seven consecutive trading session.

Prestige Estates Projects (down 2.71%), Macrotech Developers (down 2.63%), Anant Raj (down 2%), Raymond (down 1.45%), Oberoi Realty (down 1.41%), Sobha (down 0.98%), Brigade Enterprises (down 0.78%), DLF (down 0.73%), Phoenix Mills (down 0.5%) declined.

Stocks in Spotlight:

Vascon Engineers soared 6.71% after the company has received a letter of intent worth Rs 225.46 crore from Royal Rides. The company needs to complete the work, which has been awarded on a �design and build basis,� within 36 months from the date of the letter of intent, it added.

Thyrocare Technologies surged 16.08% after the healthcare service provider reported a 22.05% increase in consolidated net profit to Rs 21.70 crore on a 21.34% rise in revenue from operations to Rs 187.16 crore in Q4 FY25 over Q4 FY24. Meanwhile, the Board has recommended a final dividend of Rs 21 per equity share for FY25, subject to shareholder approval.

360 ONE WAM declined 2.58%. The company�s consolidated net profit rose 2.88% to Rs 249.60 crore in Q4 FY25 as compared with Rs 242.61 crore in Q4 FY24. Revenue from operations increased 3.74% YoY to Rs 820.77 crore during the quarter ended 31st March 2025.

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