The frontline indices came off the day’s high and traded with small gains in mid-morning trade. The Nifty traded above the 22,950 mark. Realty shares declined after advancing in the previous trading session.
At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 57.38 points or 0.08% to 75,451.20. The Nifty 50 index rose 27.65 points or 0.12% to 22,960.10.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.36% and the S&P BSE Small-Cap index fell 0.63%.
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The market breadth was weak. On the BSE, 1,399 shares rose and 2,234 shares fell. A total of 122 shares were unchanged.
Buzzing Index:
The Nifty Realty declined 1.32% to 1,018.70. The index rose 0.85% in the past trading session.
Brigade Enterprises (down 3.09%), Phoenix Mills (down 2.58%), Godrej Properties (down 1.78%), DLF (down 1.66%), Mahindra Lifespace Developers (down 1.53%), Prestige Estates Projects (down 1.02%) and Sobha (down 0.62%) slipped.
On the other hand, Sunteck Realty (up 0.87%) ,Oberoi Realty (up 0.53%) and Macrotech Developers (up 0.41%) edged higher.
Stocks in Spotlight:
Natco Pharma rallied 3.07% after the companys consolidated net profit increased 40.07% to Rs 386.3 crore on 19.79% rise in total income to Rs 1,110.3 crore in Q4 FY24 over Q4 FY23.
Sumitomo Chemical India rallied 7.28% after the company’s consolidated net profit jumped 52.09% to Rs 109.70 crore on a 3.47% increase in revenue from operations to Rs 674.20 crore in Q4 FY24 as compared with Q4 FY23.
Global Markets:
US stock market closed on Monday, 27 May 2024, for Memorial Day holiday.
Asian stocks slipped on Tuesday, on caution ahead of key inflation data from the U.S., Europe, Japan, and Australia this week for clarity on the global interest rate outlook.
US stock market finished choppy session slightly higher on Friday, 24 May 2024, as a positive reaction to earnings news from Nvidia (NVDA) was overshadowed by lingering concerns about the outlook for interest rates. At closing bell, the Dow Jones Industrial Average index advanced 4.33 points, or 0.01%, to 39,069.59. The S&P500 index added 36.88 points, or 0.7%, to 5,304.72. The tech-heavy Nasdaq Composite index increased by 184.76 points, or 1.1%, to 16,920.79. For the week, the Nasdaq shot up by 1.4%, the S&P 500 was nearly unchanged and the Dow tumbled by 2.3%.
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