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Market hits fresh record high; realty shares advance

Published on Apr 08, 2024 10:34

The key equity benchmarks traded with decent gains in morning trade. The Nifty marched above 22,600 level. Realty shares extended gains for second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 326.51 points or 0.47% to 74,595.09. The Nifty 50 index added 101.70 points or 0.45% to 22,615.40.

The Sensex and Nifty clocked an all-time high of 74,673.84 and 22,630.90 in morning trade.

In the broader market, The S&P BSE Mid-Cap index rose 0.37% and the S&P BSE Small-Cap index added 0.33%.

The market breadth was positive. On the BSE, 2,016 shares rose and 1,552 shares fell. A total of 171 shares were unchanged.


India�s foreign exchange reserves increased $2.951 billion to $645.583 billion for the week ended March 29, according to the latest RBI report. This is the sixth consecutive week of a jump in overall reserves.

For the week ended March 29, the foreign currency assets, a major component of the reserves, increased $2.354 billion to $570.618 billion.

Gold reserves increased $673 million to $52.16 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down $73 million to $18.145 billion.

India�s reserve position with the IMF was also down $2 million to $4.66 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty Realty jumped 2.07% to 957.20. The index rallied 3.53% in the two trading session.

Godrej Properties (up 4.75%), Phoenix Mills (up 3.07%), Macrotech Developers (up 3.02%), Brigade Enterprises (up 1.95%), Oberoi Realty (up 1.67%), Sobha (up 1.47%), Mahindra Lifespace Developers (up 1.29%), Sunteck Realty (up 0.99%), DLF (up 0.96%) and Prestige Estates Projects (up 0.57%) advanced.

Godrej Properties (GPL) jumped 4.75% after the company announced that it has sold over 1,050 homes worth over Rs 3,000 crore in its project, Godrej Zenith, located in Sector 89, Gurugram.

Stocks in Spotlight:

Godrej Consumer Product rallied 3.60% after the company said that India organic business continued to deliver strong underlying volume growth at high-single digit with growth being broad-based across both home care and personal care.

Dr.Reddy`s Laboratories rose 0.47%. The company said entered into a partnership agreement with Bayer to market and distribute a second brand of Vericiguat in India.

Vodafone Idea fell 1.80%. The board of directors of the company approved issuance of upto 1,395,427,034 equity shares at Rs 14.87 per equity share, aggregating to Rs. 2,075 crores to Oriana Investments Pte. (Aditya Birla Group entity forming part of the promoter group), on a preferential basis.

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