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Nifty holds 22,000 level; Realty shares rally for 3rd day

Published on Feb 16, 2024 14:30

The domestic equity benchmarks continued to trade in narrow range in the mid-afternoon trade. The Nifty traded above the 22,000 level. Realty shares extended gains for the fourth consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 374.78 points or 0.52% to 72,428.77. The Nifty 50 index added 130.25 points or 0.59% to 22,041.

In the broader market, the S&P BSE Mid-Cap added 0.74% and the S&P BSE Small-Cap index gained 0.87%.

The market breadth was positive. On the BSE, 2,220 shares rose and 1,571 shares fell. A total of 99 shares were unchanged.

Buzzing Index:

The Nifty Realty index gained 1.60% to 883.30. The index rallied 3.92% in the past four trading sessions.

Prestige Estates Projects (up 5.96%), Mahindra Lifespace Developers (up 4.6%), Brigade Enterprises (up 3.87%), Sobha (up 3.58%), DLF (up 1.63%), Godrej Properties (up 1.37%), Oberoi Realty (up 0.57%) and Macrotech Developers (up 0.49%), Swan Energy (up 0.45%) advanced.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.11% to 7.093 as compared with the previous close of 7.085.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.0225, compared with its close of 82.0500 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement rose 0.05% to Rs 61,653.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.07% to 104.37.

The United States 10-year bond yield rose 0.87% to 4.277.

In the commodities market, Brent crude for March 2024 settlement lost 19 cents or 0.23% to $82.67 a barrel.

Stock in spotlight:

Axis Bank slipped 5.45% after former Rajya Sabha member Subramanian Swamy filed a petition in the Delhi High Court against the Axis Bank-Max Life deal, accusing the private bank of a scam of Rs 5,100 crore.

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