Partner With Us NRI

Sensex rises 195 pts; realty shares jumps

Published on Jun 13, 2024 10:32

The headline equity indices traded with modest gains in morning trade. The Nifty traded above the 22,350 mark. Realty shares advanced after declining in the past consecutive trading session.

At 10:29 ST, the barometer index, the S&P BSE Sensex, was up 195.69 points or 0.26% to 76,805.30. The Nifty 50 index rose 61.65 points or 0.26% to 23,379.10.

The Sensex and Nifty clocked an all-time high of 77,145.46 and 23,481.05 respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index added 0.67% and the S&P BSE Small-Cap index rose 0.61%.

The market breadth was strong. On the BSE, 2,343 shares rose and 1,200 shares fell. A total of 168 shares were unchanged.

Economy :

India�s annual inflation rate based on all India Consumer Price Index (CPI) number came in at 4.75% for the month of May, 2024, according to government data released on Wednesday. Corresponding inflation rate for rural and urban is 5.28% and 4.15%, respectively. The Consumer Price Index (CPI) based retail inflation was 4.83% in April 2024 and 4.31% in May 2023. Inflation in the food basket was 8.69% in May, marginally down from 8.70% in April, according to the data released by the National Statistical Office (NSO).

India`s industrial production grew 5% in April this year mainly due to good show by mining and power sectors, according to official data released on Wednesday. The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4.6% in April 2023. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of April 2024 over April 2023 are 6.7%, 3.9% and 10.2% respectively.

Buzzing Index:

The Nifty Realty index added 2.20% to 1,119.50. The index shed 0.4% in the previous consecutive trading session.

Sobha (up 6.33%), Macrotech Developers (up 4.38%), Godrej Properties (up 2.79%), Prestige Estates Projects (up 1.92%), DLF (up 1.48%), Brigade Enterprises (up 0.94%), Oberoi Realty (up 0.86%), Mahindra Lifespace Developers (up 0.73%) edged higher.

Sobha jumped 6.30% after the company�s board approved the rights issue to open on June 28 and close on July 4 at a price of Rs 1,651 per share.

Stocks in Spotlight:

Amber Enterprises India slipped 2.28%. The company acquired an additional 4.6% stake in IL JIN Electronics for Rs 33 crore.

Dr. Reddy�s Laboratories rose 0.04%. The company�s step-down subsidiary, Dr. Reddy�s USA and Ingenus Pharmaceuticals have entered into a license agreement under which Dr. Reddy�s USA has licensed from Ingenus the exclusive rights to commercialise cyclophosphamide injection RTD in the United States.

Powered by Capital Market - Live News