Nifty above 17,550 mark; realty stocks slip
Published on Feb 23, 2023 14:33
The frontline indices continued to trade with minor gains in mid-afternoon trade. The Nifty traded above the 17,550 mark after hitting the day`s low of 17,455.40 in morning trade. Realty stocks extended losses for the fifth consecutive trading session. Trading was volatile on account of monthly options expiry.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 47.64 points or 0.08% to 59,792.62. The Nifty 50 index added 0.09 points to 17,571.55.
In the broader market, the S&P BSE Mid-Cap index fell 0.27% while the S&P BSE Small-Cap index rose 0.23%.
The market breadth was negative. On the BSE, 1,599 shares rose and 1,799 shares fell. A total of 142 shares were unchanged.
The minutes from the recent meetings of the Reserve Bank of India and the U.S. Federal Reserve revealed that they are willing to keep increasing the interest rates as inflation remains a concern.
Numbers to track:
The yield on India`s 10-year benchmark federal paper declined to 7.393 from 7.429 in previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.7350, compared with its close of 82.88 during the previous trading session.
MCX Gold futures for 5 April 2023 settlement fell 0.49% to Rs 55,806.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.14% to 104.43.
The United States 10-year bond yield added 0.06 % to 3.925.
In the commodities market, Brent crude for April 2023 settlement rose 58 cents or 0.72 % to $81.18 a barrel.
The Nifty Realty index declined 1.19% to 384.40. The index tumbled 6.46% in the five trading sessions.
Prestige Estates Projects (down 2.79%), Macrotech Developers (down 2.53%), DLF (down 1.69%), Oberoi Realty (down 1.15%) and Godrej Properties (down 0.7%), Sunteck Realty (down 0.58%), Sobha (down 0.56%), Brigade Enterprises (down 0.47%) declined.
On the other hand, Indiabulls Real Estate (up 1.51%), Phoenix Mills (up 0.66%) edged higher.
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