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Indices turn rangebound; realty shares under pressure

Published on Dec 18, 2023 14:35

The domestic equity indices traded in narrow range with limited losses in mid-afternoon trade. The Nifty slipped below the 21,450 mark. Realty shares witnessed selling pressure for second consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 94.31 points or 0.13% to 71,389.44. The Nifty 50 index lost 19.85 points or 0.09% to 21,436.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index gained 0.57%.

The market breadth was positive. On the BSE, 2,222 shares rose and 1,622 shares fell. A total of 153 shares were unchanged.

Buzzing Index:

The Nifty Metal realty index declined 1.04% to 759.05. The index has fell 1.75% in two consecutive sessions.

Godrej Properties (down 3.07%), Swan Energy (down 2.91%), Oberoi Realty (down 2.45%), Phoenix Mills (down 1.3%) and DLF (down 1.04%), Mahindra Lifespace Developers (down 0.76%), Macrotech Developers (down 0.51%) declined.

On the other hand, Prestige Estates Projects (up 2.34%) ,Brigade Enterprises (up 1.61%) and Sobha (up 0.26%) advanced.

Numbers to Tracks:

The yield on India`s 10-year benchmark federal paper added 0.08% to 7.169 as compared with previous close 7.163.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.9825, compared with its close of 83.0300 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement declined 0.22% to Rs 62,058.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.10% to 102.45.

The United States 10-year bond yield shed 0.62% to 3.905.

In the commodities market, Brent crude for February 2024 settlement added 64 cents or 0.84% to $77.19 a barrel.

Stocks in Spotlight:

Solar Industries India declined 1.63% after the company informed that an explosion incident has occurred in the factory situated at Chakdoh, Nagpur, resulting in the deaths of nine workers in the plant.

NBCC (India) rose 0.77% after the company received an order worth Rs 150 crore from SAIL DSP, Durgapur under project management consultancy.

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