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MARKET ERASE EARLY GAINS; REALTY SHARES SLIDE

Published on Aug 28, 2024 10:39

The domestic equity benchmarks reversed early gains and traded with minor losses in morning trade. The Nifty traded near the 25,000 level after hitting the day`s low of 24,964.65 in morning trade. Realty shares fell after advancing in past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex was down 35.37 points or 0.04% to 81,676.39. The Nifty 50 index lost 14.20 points or 0.06% to 25,003.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index gained 0.55%.

The market breadth was positive. On the BSE, 2,157 shares rose and 1,477 shares fell. A total of 150 shares were unchanged.

New Listing:

Shares of Orient Technologies were currently trading at Rs 304.45 at 10:15 IST on the BSE, representing a premium of 47.79% as compared with the issue price of Rs 206.

The scrip was listed at Rs 290, exhibiting a premium of 40.77% to the issue price.

So far, the stock has hit a high of 304.45 and a low of 285.10. On the BSE, over 5 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index declined 0.74% to 1,030.45. The index rallied 1.96% in past two consecutive trading sessions.

Sunteck Realty (down 1.84%), Phoenix Mills (down 1.05%), Macrotech Developers (down 0.72%), DLF (down 0.69%), Brigade Enterprises (down 0.67%), Sobha (down 0.44%), Oberoi Realty (down 0.30%) and Godrej Properties (down 0.12%) declined.

On the other hand, Mahindra Lifespace Developers (up 0.66%) and Prestige Estates Projects (up 0.64%) edged higher.

Stocks in Spotlight:

Zydus Lifesciences added 1.68% after the Pharmaceuticals company has received final approval from the United States Food and Drug Administration (USFDA) to market Amantadine extended-release capsules, 68.5 mg, and tentative approval for 137 mg.

The Amantadine extended-release capsules are indicated for the treatment of dyskinesia in patients with Parkinson�s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.

Skipper shed 0.02%. The company informed that its board has approved to raise upto Rs 600 crore via equity or debt.

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