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Shares pare gains; Asian shares advance

Published on Dec 23, 2021 11:29

The key equity indices further pared gains in mid morning trade. The Nifty managed to hold above the 17,000 mark. Realty stocks advanced for the third day in a row. Asian markets advanced.

At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 289.22 points or 0.51% to 57,219.78. The Nifty 50 index added 76.05 points or 0.45% to 17,031.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.88% while the S&P BSE Small-Cap index added 0.75%.

Buyers outnumbered sellers. On the BSE, 2218 shares rose and 938 shares fell. A total of 131 shares were unchanged.

Buzzing Index:

The Nifty Realty index rose 2.40% to 484.85, advancing for third consecutive session. The index has gained 5.41% in three sessions.

Macrotech Developers (up 5.01%), The Phoenix Mills (up 3%), Oberoi Realty (up 2.93%), Prestige Estates (up 2.62%), DLF (up 2%), Brigade Enterprises (up 1.46%) and Godrej Properties (up 1.15%) advanced.

Indiabulls Real Estate added 1.61% to Rs 163.65. The company said that its board has approved raising of funds up to Rs 1,500 crore to augment the long-term resources and to maintain sufficient liquidity for meeting funding requirements for business activities, existing & new projects & future business growth.

Global Markets:

Asian stocks were trading higher on Thursday, seeing a continued rebound from fears over the omicron Covid variant.

The media reported that the Chinese city of Xi`an ordered its 13 million residents to stay at home as it deals with rising Covid cases.

U.S. stocks rose on Wednesday, rallying for a second day as the market continued to rebound from a three-day losing streak spurred by fears about the omicron variant.

US economic growth slowed in the third quarter amid a flare-up in COVID-19 infections, the government confirmed on Wednesday. Gross domestic product increased at a 2.3% annualised rate, the Commerce Department said in its third reading of GDP growth for the July-September quarter.

The Food and Drug Administration on Wednesday granted emergency use authorization for Pfizer`s Covid pill, the first antiviral drug against the virus for at-home use.

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