Shares hit the day`s high; realty stocks rise for 2nd day

The domestic equity indices hit the day`s high in early afternoon trade. The Nifty was trading above 17,350 mark. Realty shares rose for second day in a row.

At 12:27 IST, the barometer index, S&P BSE Sensex gained 368.66 points or 0.64% to 57,889.72. The Nifty 50 index rose 106.90 points or 0.62% to 17,351.95.

The S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.56%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,807 shares rose while 1,421 shares fell. A total of 140 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, declined 5% to 18.41. The Nifty 26 May 2022 futures were trading at 17,371, at a premium of 19.05 points as compared with the spot at 17,351.95.

The Nifty option chain for the 26 May 2022 expiry showed maximum Call OI of 19.8 lakh contracts at the 18,000 strike price. Maximum Put OI of 33.4 lakh contracts was seen at 16,000 strike price.

Buzzing Index:

The Nifty Realty index rose 1.16% to 454.30. The index has added 2.02% in two sessions.

Godrej Properties (up 1.63%), Oberoi Realty (up 1.60%), The Phoenix Mills (up 1.41%), Brigade Enterprises (up 1.39%), DLF (up 1.15%), Sobha Developers (up 1.11%), Sunteck Realty (up 0.88%) and Prestige Estates (up 0.85%) advanced.

Primary Market:

The initial public offer (IPO) of Rainbow Childrens Medicare received bids for 2.22 crore shares as against 2.05 crore shares on offer, according to stock exchange data at 12:06 IST on Friday (29 April 2022). The issue was subscribed 1.09 times. The issue opened for bidding on 27 April 2022 and it will close on 29 April 2022.

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