Shares further pare losses; realty stocks decline
Published on Feb 13, 2023 14:39
The key benchmark indices further pared losses in mid-afternoon trade. The Nifty traded above 17,750 level after hitting the day`s low at 17,719.75 in afternoon trade. Realty shares witnessed significant selling pressure.
At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 228.17 points or 0.38% to 60,454.53. The Nifty 50 index lost 80 points or 0.45% to 17,776.50.
In the broader market, the S&P BSE Mid-Cap index declined 1.11% while the S&P BSE Small-Cap index fell 1.03%.
The market breadth was weak. On the BSE, 1,211 shares rose and 2,330 shares fell. A total of 182 shares were unchanged.
Numbers to track:
The yield on India`s 10-year benchmark federal paper advanced 0.14% to 7.373 from 7.363 previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.7075, compared with its close of 82.58 during the previous trading session
MCX Gold futures for 5 April 2023 settlement rose 0.10% to Rs 56797.
The United States 10-year bond yield advanced 0.22% to 3.751.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.08% to 103.71.
In the commodities market, Brent crude for April 2023 settlement declined 0.87 cents or 1.01% to $85.52 a barrel.
The Nifty Realty index declined 1.42% to 408.90. The index had advanced 1.36% to end at 414.80 on Friday.
Indiabulls Real Estate (down 6.11%), Sunteck Realty (down 2.62%), Prestige Estates Projects (down 2.49%), Brigade Enterprises (down 2.03%) and Godrej Properties (down 1.78%) were the top index losers.
Further, Phoenix Mills (down 1.76%), DLF (down 1.2%), Oberoi Realty (down 0.49%), Macrotech Developers (down 0.42%) and Sobha (down 0.24%) edged lower.
Stocks in Spotlight:
Galaxy Surfactants rallied 4.83%. The company`s consolidated net profit surged 132.8% to Rs 106.21 crore in Q3 FY23 from Rs 45.62 crore in Q3 FY22.
BEML advanced 0.95%. On consolidated basis, BEML`s net profit declined 15.6% to Rs 66.30 crore in Q3 FY23 compared with Rs 78.51 crore in Q3 FY22. Net sales fell 11.7% to Rs 1,036.97 crore in Q3 FY23 as against Rs 1,174.50 crore in corresponding quarter last year.
Esab India rose 3.39%. The company`s net profit rose 91.4% to Rs 36.31 crore on 18% increase in revenue from operations to Rs 267.39 crore in Q3 December 2022 over Q3 December 2021.
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