Shares trade with decent gains; realty stocks rise for second day
Published on Dec 22, 2021 14:29
The key equity benchmarks continued to trade with decent gains in mid afternoon trade. The Nifty continued to trade below the 16,900 mark. Realty stocks advanced for second day in a row.
At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 392.87 points or 0.70% to 56,711.88. The Nifty 50 index added 119 points or 0.71% to 16,889.85.
The broader indices outperformed the benchmarks. The S&P BSE Mid-Cap index rose 1.09% while the S&P BSE Small-Cap index gained 1.35%.
The market breadth was strong. On the BSE, 2386 shares rose and 903 shares fell. A total of 119 shares were unchanged.
Numbers to Track:
The yield on 10-year benchmark federal paper rose to 6.473% as compared with 6.468% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 75.6125, compared with its close of 75.5950 during the previous trading session.
MCX Gold futures for 4 February 2022 settlement shed 0.13% to Rs 48,005.
In the commodities market, Brent crude for February 2022 settlement lost 2 cents or 0.03% to $73.96 a barrel.
The Nifty Realty index rose 2.10% to 469.60. The index has added 3.74% in two sessions.
Brigade Enterprises (up 7.70%), Macrotech Developers (up 4.63%), Sunteck Realty (up 3.43%), Sobha Developers (up 2.65%), Prestige Estates (up 2.55%), Oberoi Realty (up 2.31%), Indiabulls Real Estate (up 1.62%) and Godrej Properties (up 1.18%) advanced.
Stocks in Spotlight:
Larsen & Toubro (L&T) rose 1.28% to Rs 1850.15 after the company`s construction arm secured a `significant` order for its buildings and factories business from a reputed developer. According L&T`s classification, the value of `significant` contracts lies between Rs 1000 crore to Rs 2,500 crore.
PNC Infratech rose 2.09% to Rs 268.25 after the company received letter of acceptance (LOA) for a user fee collection mandate in NCR from National Highways Authority of India (NHAI). The contract value of the same is Rs 369 crore.
Most European stocks declined while most Asian stocks advanced on Wednesday as investors continue to assess the impact of the omicron COVID variant.
Investors are juggling the rapid spread of the omicron variant, and the introduction of containment measures by governments around the world, with new scientific analysis of its severity and pharmaceutical developments on booster shots and treatments.
In US, President Joe Biden said in a Tuesday address that people with booster shots are "highly protected," urging Americans to get their extra doses. The president reiterated that the U.S. is not going back to March 2020 at the height of the initial outbreak where the country went into a forced lockdown.
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