Market erases gains; realty shares advance

The benchmark indices pared gains and traded with minor losses in morning trade. The Nifty traded below the 22,200 level. Realty shares extended gains for the second consecutive trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 61.38 points or 0.08% to 73,011.01. The Nifty 50 index shed 11.75 points or 0.05% to 22,185.20.

In the broader market, the S&P BSE Mid-Cap index shed 0.16% and the S&P BSE Small-Cap index rose 0.10%.

The market breadth was positive. On the BSE, 1,963 shares rose and 1,609 shares fell. A total of 139 shares were unchanged.

Buzzing Index:

The Nifty Realty index gained 2.39% to 908.20. The index advanced 3.58% in two trading sessions.

Macrotech Developers (up 3.66%), Oberoi Realty (up 2.97%), Sobha (up 2.73%), Phoenix Mills (up 2.61%), DLF (up 2.49%), Prestige Estates Projects (up 2.19%), Godrej Properties (up 2.07%), Brigade Enterprises (up 1.36%), Mahindra Lifespace Developers (up 0.82%) advanced.

Stocks in Spotlight:

Wipro shed 0.51%. The IT major and IBM expand partnership to offer new ai services and support to clients.

Granules India shed 0.34%. The company extended a corporate guarantee to State Bank of India for securing the term loan facility its Indian subsidiary

Varun Beverages added 1.22%. after the company and PepsiCo Inc entered into an exclusive snacks appointment agreement to manufacture and package cheetos in the territory of Morocco as per details in the attached disclosure.

Union Bank of India rallied 4.75% after the lender approved raising funds up to Rs 3,000 crore via QIP at a floor price of Rs 142.78 per share

MAX Healthcare shed 0.16%. The company acquired 99.90% equity stake in Alexis Multi-Speciality Hospital and became a subsidiary of the company

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