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Market trade near flat line; realty shares in demand

Published on Jul 02, 2024 10:36

The equity benchmark indices traded with tiny gains in morning trade. The Nifty traded above the 24,150 mark after hitting day�s low of 24,073.65 in morning trade. Realty shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex was up 43.91 points or 0.06% to 79,520.10. The Nifty 50 index added 12.40 points or 0.05% to 24,154.35.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.11% and the S&P BSE Small-Cap index rose 0.48%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,285.41, respectively.

The market breadth was strong. On the BSE, 2,199 shares rose and 1,384 shares fell. A total of 154 shares were unchanged.

New Listing:

Shares of Allied Blenders and Distillers were currently trading at Rs 310.20 at 10:15 IST on the BSE, representing a premium of 10.39% as compared with the issue price of Rs 281.

The scrip was listed at Rs 318.10, exhibiting a 2.48% discount to the issue price.

So far, the stock has hit a high of 319.90 and a low of 307.15 On the BSE, over 16.86 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index gained 1.55% to 1,118.10. The index shed 0.33% in the past trading session.

Brigade Enterprises (up 2.71%), Sobha (up 2.67%), Godrej Properties (up 2.46%), DLF (up 0.38%), Prestige Estates Projects (up 0.36%), Phoenix Mills (up 0.3%), Oberoi Realty (up 0.12%), Sunteck Realty (up 0.05%) and Mahindra Lifespace Developers (up 0.03%) advanced.

Godrej Properties said that it has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.

Stocks in Spotlight:

TVS Motor Company rose 0.44%. The company�s Total sales were up 5% year-on-year at 3.33 lakh units in June. 2-wheeler sales went up 6% at 3.22 lakh units, motorcycle sales up 3% at 1.52 lakh units, scooter sales up 6% at 1.28 lakh units, EV sales up 10% at 15,859 units and total exports down 4% at 76,074 units.

Hero MotoCorp added 0.76%. The company�s total sales went up 15% year-on-year to 5.03 lakh units in June. Domestic sales were up 16% at 4.91 lakh units, exports were down 15% at 12,032 units, and motorcycle sales were up 17% at 4.73 lakh units for the month of June.

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