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Nifty above 21,600 level, broader mkt rallies

Published on Jan 04, 2024 10:33

The frontline indices traded with modest gains in morning trade. The Nifty traded above the 21,600 level. Realty shares jumped for the second consecutive trading session.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 405.94 points or 0.57% to 71,762.54. The Nifty 50 index added 116.45 points or 0.54% to 21,633.80.

The broader market outperformed the local indices. the S&P BSE Mid-Cap index gained 1.08% and the S&P BSE Small-Cap index rose 1%.

The market breadth was strong. On the BSE, 2,641 shares rose and 898 shares fell. A total of 152 shares were unchanged.

Buzzing Index:

The Nifty Realty index jumped 4.94% to 826.90. The index rallied 6.22% in two trading sessions.

Sobha (up 12.01%), Brigade Enterprises (up 8.13%), Macrotech Developers (up 5.42%), Godrej Properties (up 4.22%), Prestige Estates Projects (up 4.18%), DLF (up 3.95%), Mahindra Lifespace Developers (up 3.63%), Oberoi Realty (up 3.5%), Phoenix Mills (up 1.38%) and Swan Energy (up 0.92%) edged higher.

Stocks in Spotlight:

Satin Creditcare Network rallied 3.27% after the microfinance lender announced that its board will meet on Monday, 8 January 2024 to consider raising of funds by issuing non-convertible debentures (NCDs) on private placement basis.

Chambal Fertilisers and Chemicals rose 0.72% after the meeting of the Board of Directors of the company is scheduled on 08 January 2024 to consider and approve a proposal to buyback equity shares of the company.

IndusInd Bank`s advanced 2.09% after the bank reported a robust 20% year-over-year (YoY) growth in net advances to Rs 3.26 lakh crore for the quarter ended 31 December 2023.

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