BROADER MKT OUTPERFORMS; REALTY SHARES IN DEMAND

The benchmark indices traded with minor gains in mid-afternoon trade. The Nifty traded above the 24,050 mark after hitting day�s low of 24,009.15 in afternoon trade. Realty shares advanced after declining for the third consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 138.75 points or 0.17% to 79,374.93. The Nifty 50 index rose 51.05 points or 0.21% to 24,096.50.

The Sensex and Nifty clocked an all-time high of 79,671.58 and 24,174, respectively in morning trade.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index gained 0.54% and the S&P BSE Small-Cap index rallied 0.72%.

The market breadth was positive. On the BSE, 2,194 shares rose and 1,656 shares fell. A total of 116 shares were unchanged.

Buzzing Index:

The Nifty Realty index added 1.04% to 1,110.40. The index slipped 3.20% in the past three trading sessions.

Godrej Properties (up 2.45%), Prestige Estates Projects (up 2.36%), Sunteck Realty (up 1.05%), DLF (up 0.92%), Macrotech Developers (up 0.53%), Oberoi Realty (up 0.45%) and Phoenix Mills (up 0.13%) edged higher.

On the other hand, Sobha (down 3.01%), Mahindra Lifespace Developers (down 1.18%) and Brigade Enterprises (down 0.23%) slipped.

Numbers to Track:

The yield on India`s 10-year benchmark federal rose 0.23% to 7.016 as compared with previous close 7.000.

In the foreign exchange market, the rupee edged slightly lower against the dollar. The partially convertible rupee was hovering at 83.4525, compared with its close of 83.4500 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement rose 0.09% to Rs 71,639.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.10% to 106.01.

The United States 10-year bond yield gained 0.38% to 4.305.

In the commodities market, Brent crude for August 2024 settlement added 37 cents or 0.43% to $86.76 a barrel.

Stocks in Spotlight:

Central Depository Services (India) (CDSL) zoomed 16.29% after the company announced that its board will meet on Tuesday, 02 July 2024, to consider and approve the proposal for issuance of bonus shares to the shareholders of the company.

Nazara Technologies jumped 7.55% after the firm�s Singapore based arm, NODWIN Gaming International Pte, (NODWIN) has signed definitive agreements to increase its existing 13.51% stake in Freaks 4U Gaming GmbH through share swap.

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