NIFTY BELOW 24,850 MARK, REALTY SHARES UNDERPRESSURE

The equity benchmarks traded sideways in the morning trade. The Nifty traded below the 24,850 mark. Realty shares declined after advancing in the previous trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, fell 8.22 points or 0.02% to 81,075.29. The Nifty 50 index rose 11.65 points or 0.05% to 24,822.20.

In the broader market, the S&P BSE Mid-Cap index shed 0.22% and the S&P BSE Small-Cap index gained 0.18%.

The market breadth was positive. On the BSE, 1,962 shares rose and 1,320 shares fell. A total of 102 shares were unchanged.

Buzzing Index:

The Nifty Realty index fell 0.63% to 1,036.90. The index advanced 0.47% in the past trading session.

Macrotech Developers (down 2.77%), Oberoi Realty (down 1.04%), Phoenix Mills (down 0.66%), Godrej Properties (down 0.58%), Mahindra Lifespace Developers (down 0.16%) and Prestige Estates Projects (down 0.09%) declined.

On the other hand, Sunteck Realty (up 1.46%), Brigade Enterprises (up 1.06%) and Sobha (up 0.58%) advanced.

Stocks in Spotlight:

JSW Energy rose 0.35%. The company said that its wholly owned subsidiary JSW Neo Energy has received letter of award (LoA) for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC.

Spandana Sphoorty Financial shed 0.10%. The company informed that a meeting of the management committee of the Board of Directors is scheduled to be held on 27 August 2024, to approve, the issue and offer of Non-Convertible Debentures on private placement basis.

Power Mech Projects rallied 3.33% after the company said that it will issue bonus share in the ration of 1:1. The record date is 28 September 2024.

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