Indices trade with modest losses, Realty shares decline

The domestic equity benchmarks traded with limited losses in mid-afternoon trade. The Nifty traded below the 21,750 mark after hitting the day`s high of 21,755.60 in early trade. Realty shares declined after gaining for the past seven consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 426.24 points or 0.59% to 71,848.89. The Nifty 50 index declined 89.65 points or 0.41% to 21,652.25.

In the broader market, the S&P BSE Mid-Cap index down 0.09% and the S&P BSE Small-Cap index rose 0.07%.

The market breadth was positive. On the BSE, 1,913 shares rose and 1,868 shares fell. A total of 119 shares were unchanged.

Buzzing Index:

The Nifty Realty fell 1.13% to 777.70. The index jumped 6.69% in the past seven trading session.

Macrotech Developers (down 3.79%), Brigade Enterprises (down 1.75%), DLF (down 1.55%), Swan Energy (down 0.95%) and Phoenix Mills (down 0.92%) were the top losers.

Among the other losers were Sobha (down 0.65%),Oberoi Realty (down 0.32%), Mahindra Lifespace Developers (down 0.19%).

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.22% to 7.212 as compared with previous close 7.196.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3375, compared with its close of 83.2150 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement advanced 0.33% to Rs 63,531.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.11% to 101.44.

The United States 10-year bond yield rallied 2.35% to 3.947.

In the commodities market, Brent crude for March 2024 settlement added $1.18 or 1.53% to $78.22 a barrel.

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