NIFTY TRADES NEAR 23,550 MARK; REALTY SHARES RALLY FOR 5TH DAY

The key domestic indices traded with substantial gains in morning trade. The Nifty traded near 23,550 mark. Realty shares witnessed buying demand for the fifth consecutive trading session.

At 10:26 IST, the barometer index, the S&P BSE Sensex, added 647.43 points or 0.84% to 77,553.07. The Nifty 50 index advanced 198.25 points or 0.85% to 23,548.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.15% and the S&P BSE Small-Cap index added 1.29%.

The market breadth was strong. On the BSE, 2,760 shares rose and 998 shares fell. A total of 198 shares were unchanged.

Buzzing Index:

The Nifty Realty index jumped 1.85% to 879.55. The index surged 10.34% in the five consecutive trading sessions.

Brigade Enterprises (up 4.87%), Macrotech Developers (up 4.59%), Oberoi Realty (up 1.97%), Prestige Estates Projects (up 1.9%) and Phoenix Mills (up 1.59%), Mahindra Lifespace Developers (up 1.15%), Raymond (up 1.11%), Godrej Properties (up 0.81%) and DLF (up 0.34%) surged.

Stocks in Spotlight:

Biocon added 1.16% after the company�s wholly owned subsidiary Biocon Pharma announced the receipt of U.S Food and Drug Administration (US FDA) approval for its ANDA Norepinephrine Bitartrate Injection.

RailTel Corporation of India surged 8.49% after the company announced that it had received a work order worth Rs 25.15 crore from Hindustan Petroleum Corporation (HPCL).

NCC added 2.21% after the company announced that it has received a Letter of Acceptance (LoA) worth Rs 1,480.34 crore from the Bihar Medical Services & Infrastructure Corporation.

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