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Market extends losses, realty stocks slip

Published on Dec 12, 2023 14:38

The key equity indices extended losses and hit a fresh intraday low in mid-afternoon trade. The Nifty traded below the 21,000 level. Realty stocks declined after advancing in the past three trading sessions

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 163.61 points or 0.23% to 69,764.92. The Nifty 50 index lost 31.05 points or 0.15% to 20,966.05.

The Nifty hit an all-time high of 21,037.90 in early trade today.

In the broader market, the S&P BSE Mid-Cap index fell 0.37% while the S&P BSE Small-Cap index shed 0.08%.

The market breadth was negative. On the BSE, 1,798 shares rose and 1,954 shares fell. A total of 120 shares were unchanged.

Buzzing Index:

The Nifty Realty index fell 1.40% to 734.50. The index added 1.74% in the past three trading sessions.

Prestige Estates Projects (down 4.96%), Sobha (down 3.52%), Macrotech Developers (down 2.44%), Brigade Enterprises (down 1.97%), Oberoi Realty (down 1.51%), Godrej Properties (down 1.46%), DLF (down 0.51%), Mahindra Lifespace Developers (down 0.31%), Swan Energy (down 0.12%) slipped.

Numbers to track:

The yield on India`s 10-year benchmark federal paper rose 0.18% to 7.272 as compared with previous close 7.281.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3875, compared with its close of 83.3775 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement rose 0.30% to Rs 61,300.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.18% to 103.91.

The United States 10-year bond yield declined 0.88% to 4.201.

In the commodities market, Brent crude for February 2024 settlement rose 18 cents or 0.24% to $76.21 a barrel.

Stocks in Spotlight:

Rail Vikas Nigam (RVNL) shed 0.25% after the company said that its joint venture (JV) with URC has emerged as the lowest bidder (L1) for contract awarded by Madhya Pradesh Metro Rail Corporation worth Rs 543 crore.

Sterling and Wilson Renewable Energy (SW Solar) rose 2.01% after the company said that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 365.02 per share.

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