Nifty scales above 21,300; realty stocks in demand

The key equity indices extended gains and traded near the day�s high in morning trade. The Nifty traded above the 21,300 mark. Realty shares advanced for the second consecutive trading session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 264.49 points or 0.37% to 71,129.59. The Nifty 50 index added 92.15 points or 0.43% to 21,347.20.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.88% and the S&P BSE Small-Cap index gained 1.19%.

The market breadth was strong. On the BSE, 2,594 shares rose and 824 shares fell. A total of 170 shares were unchanged.

Buzzing Index:

The Nifty Realty index gained 1.81% to 757.60. The index advanced 2.75% in two trading sessions.

Phoenix Mills (up 6.05%), Prestige Estates Projects (up 3.37%), Swan Energy (up 2.47%), Sobha (up 1.6%), Brigade Enterprises (up 1.56%), Mahindra Lifespace Developers (up 1.4%), DLF (up 1.23%), Macrotech Developers (up 0.94%), Oberoi Realty (up 0.22%) and Godrej Properties (up 0.07%) edged higher.

Stocks in Spotlight:

Suven Pharmaceuticals added 1.25%. The pharmaceutical company said that Himanshu Agarwal will replace Subba Rao Parupalli as the chief financial officer (CFO) of the company, effective from 2 January 2024.

RailTel Corporation of India advanced 2.83% after the company said that it has received the work order from N F Railway Construction worth Rs 66.83 crore.

GMR Airports Infrastructure jumped 3.56% after the company said that its subsidiary GMR Airports has entered into binding agreements with NIIF to invest up to Rs 675 crore in GMR Visakhapatnam International Airport.

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