NIFTY SLIDES BELOW 25,550; REALTY SLIDES FOR 4TH DAY

The domestic equity benchmarks traded with significant losses in morning trade. The Nifty traded below the 25,550 mark. Realty shares extend losses for the fourth consecutive trading session. Trading was volatile due to weekly F&O series expiry today.

At 10:30 ST, the barometer index, the S&P BSE Sensex tumbled 894.98 points or 1.06% to 83,371.99. The Nifty 50 index slipped 272.50 points or 1.06% to 25,524.40

In the broader market, the S&P BSE Mid-Cap index shed 0.91% and the S&P BSE Small-Cap index declined 0.98%.

The market breadth was weak. On the BSE, 1,201 shares rose and 2,478 shares fell. A total of 140 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, jumped 7.09% to 12.84.

New Listing:

Shares of KRN Heat Exchanger and Refrigeration were currently trading at Rs 472.30 at 10:25 IST on the BSE, representing a premium of 114.68% as compared with the issue price of Rs 220.

The scrip was listed at Rs 470, exhibiting a premium of 113.64% to the issue price.

So far, the stock has hit a high of 497 and a low of 450. On the BSE, over 15.11 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index declined 2.39% to 1,070.60. The index tumbled 5.36% in four consecutive trading sessions.

Phoenix Mills (down 4.72%), Brigade Enterprises (down 3.45%), Macrotech Developers (down 3.36%), Godrej Properties (down 1.62%), Sobha (down 1.39%), Oberoi Realty (down 1.32%), DLF (down 1.23%), Raymond (down 1.17%), Mahindra Lifespace Developers (down 0.8%) and Prestige Estates Projects (down 0.61%) declined.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) fell 1.06%. The company said that it has handled a total cargo volume of 37.5 million metric tonnes (MMT) in September 2024, which is higher by 14% on YoY basis.

NMDC shed 0.99%. The state-owned miner`s iron ore production increased by 1.33% to 3.04 million tonnes (MT) in September 2024 as against 3 MT produced in September 2023.

Maruti Suzuki India slipped 2.15%. The company has recorded total sales increased 1.87% to 1,84,727 units in September 2024 as against 1,81,343 units sold in September 2023.

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