
Indices: Stock market update: Nifty Realty index advances 0.61% in an upbeat market
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NEW DELHI: The Nifty Realty index traded positive around 10:24AM(IST)on Monday in an upbeat market.Macrotech Developers Ltd.(up 2.31 per cent), Godrej Properties Ltd.(up 1.37 per cent), Anant Raj Ltd.(up 1.23 per cent), DLF Ltd.(up 0.27 per cent) and Oberoi Realty Ltd.(up 0.19 per cent) were among the top gainers.Prestige Estates Projects Ltd.(down 1.3 per cent) and Raymond Ltd.(down 0.76 per cent) were the top losers on the index.The Nifty Realty index was up 0.61 per cent at 942.6 at the time of writing this report.Benchmark NSE Nifty50 index was up 174.35 points at 25027.5, while the BSE Sensex was up 616.85 points at 82337.93.Among the 50 stocks in the Nifty index, 43 were trading in the green, while 7 were in the red.Shares of Reliance Power, Vodafone Idea, Suzlon Energy, Eternal and YES Bank were among the most traded shares on the NSE.Shares of Khaitan(India), Camlin Fine Sc, ITD Cementation, JK Cement and Stampede Cap(DVR)hit their fresh 52-week highs in today's trade, while Gangotri Text, JP Associates, SKIL Infrastructure, Techindia Nirman and Varanium Cloud hit fresh 52-week lows in trade.

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Business Standard
an hour ago
- Business Standard
Markets cheer RBI's jumbo rate cut; Sensex ends 746.95 points higher
Benchmark equity indices surged on Friday to post their biggest single-day gains in three weeks after the Reserve Bank of India (RBI) trimmed interest rates by 50 basis points. The 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. Interest-rate-sensitive realty index soared 4.74 per cent, while auto index raced 1.50 per cent and bankex climbed 1.25 per cent. Friday's rally added ₹3.6 trillion to the market capitalisation of BSE-listed firms, which now stands at ₹451 trillion. With the latest reduction, the RBI has now cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February — the first cut since May 2020. Additionally, the RBI slashed the cash reserve ratio by 100 basis points to 3 per cent, a phased cut effective between September and December. These measures are expected to inject ₹2.5 trillion into the financial system. "Several external headwinds — ranging from US tariff policies and global trade tensions to sluggish worldwide growth and geopolitical risks — have weighed on domestic economic prospects, reinforcing the rationale for monetary easing,' said Dhiraj Relli, managing director and CEO of HDFC Securities. 'With enhanced liquidity and reduced borrowing costs, conditions are now set for sustained economic momentum and a market recovery. This stimulus could propel Indian equity markets beyond their current trading range, potentially pushing the Nifty past 25,000 and toward previous highs of 26,200," Relli added. The market breadth was positive, with 2,194 stocks advancing and 1,832 declining. Barring two, all Sensex stocks gained. HDFC Bank, which rose 1.4 per cent, was the biggest contributor to Sensex gains, followed by Bajaj Finance, which rose by 4.9 per cent. Bajaj Finance was also the best performing stock on the Sensex. "Monsoon-linked sectors such as fertilisers, agrochemicals, rural finance, and two-wheelers will be in focus, backed by forecasts of an above-average monsoon in 2025. We expect Indian markets to witness a gradual upgrade, supported by positive sentiment following an anticipated rate cut by RBI and optimism surrounding a potential US-India trade agreement with officials from both sides meeting in New Delhi this week to finalise the first phase of the proposed deal,' said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services.


Time of India
an hour ago
- Time of India
Rate-cut boost: Rupee jumps 11 paise to 85.68 against dollar; market rally and CRR cut lift sentiment
The rupee appreciated by 11 paise to close at 85.68 against the US dollar on Friday, reversing early losses after the Reserve Bank of India (RBI) delivered a surprise 50 basis point repo rate cut and announced a phased 100 basis point reduction in the cash reserve ratio (CRR). The local unit opened weak at 85.91, down 12 paise from the previous close of 85.79. But sentiment turned sharply positive after the RBI's unexpected rate action, which supported growth prospects and lifted domestic equities. The rupee touched an intra-day high of 85.66 and a low of 86 before settling higher, PTI reported. "The rupee led the pack among Asian currencies, buoyed by the RBI's surprise 50 basis point rate cut. This decisive, growth-driven policy move provided a significant boost to the local currency and fuelled optimism among domestic equity investors," said Dilip Parmar, Senior Research Analyst at HDFC Securities. At the policy briefing, RBI Governor Sanjay Malhotra said the decision to move to a 'neutral' stance from 'accommodative' reflected a data-dependent outlook going forward. He added that the economy remained resilient, with foreign reserves strong enough to fund 11 months of imports and cover 96% of external debt. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mistura chinesa faz cabelo crescer e homem fica irreconhecível Resultados em 30 dias Undo The surprise CRR cut is expected to inject additional liquidity into the banking system, lowering borrowing costs and aiding credit transmission. Anurag Mittal, Head of Fixed Income at UTI AMC, called the move "pre-emptive and precise," noting that the central bank's intent to fast-track transmission was clear despite existing surplus liquidity. The RBI retained its GDP growth forecast for FY25 at 6.5%. Despite the rate-induced rally, analysts warned of external risks. A rising dollar index, up 0.25% to 98.98, and weakening Asian currencies could limit further gains for the rupee. Brent crude futures slipped 0.26% to $65.17 per barrel. 'Any further rate cut by the RBI may also pressurise the rupee. However, a positive tone in the domestic markets may support the domestic currency at lower levels,' said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. He expects the USD-INR pair to trade between 85.40 and 86.25 in the near term. Equity markets reflected the upbeat sentiment. The Sensex closed 747 points higher at 82,189, while the Nifty crossed the 25,000-mark to end at 25,003, up 252 points. Foreign institutional investors were net buyers, purchasing equities worth Rs 1,009.71 crore, exchange data showed. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


India Gazette
2 hours ago
- India Gazette
RBI policy brings cheer for Indian stocks: Nifty Bank soars over 800 points, realty skyrockets
New Delhi [India], June 6 (ANI): The Indian stock indices ended on a strong note and surged after the larger-than-expected policy rate cut, reflecting elevated optimism among the market participants on the last trading day of the week. At the end of the trading on Friday, the BSE Sensex was at 82,188.99, up 746.95 points or 0.92 per cent, and the Nifty 50 was up 252.15 points or 1.02 per cent. The market analysts say that the RBI's decision to cut the repo rate exceeds expectations and gives a strong message to the markets that the apex bank is willing to move aggressively when macroeconomic conditions allow. Following the MPC outcome announcements, Nifty Bank hit a new high, and the Central Bank was surprised with a larger-than-expected policy rate cut of 50 basis points, taking the repo rate to 5.5 per cent. The Nifty Bank ended at 56,578.40, climbing over 817 points. 'This big rate cut will impact the margins of the banks and, therefore, bank stocks will be under pressure in the near term. However, the credit growth that this rate cut will hopefully stimulate will compensate for the dip in margins,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.'The Indian stock market responded optimistically to RBI's surprise and aggressive growth push policy,' Vijayakumar further added. CS Setty, Chairman at State Bank of India & Chairman at IBA said, 'RBI today's monetary policy communication was action-packed - innovative, out of the box and an unanticipated surprise.' 'The policy is definitely positive for all sectors of the economy, particularly for banking and finance. In particular, lower cost of borrowing will act as a counterbalance to any uncertainty,' he added. The investors also reacted strongly to the Realty, which rose over 4 per cent. Reacting to the rate cut announcement, Mayank Jain, CEO, KREEVA, a real estate developer, said, 'The reduced borrowing cost will not only strengthen homebuyers' sentiments but also help in easing the liquidity flow in the market. 'In light of significant market volatility and real estate witnessing a surge in the investment flow, this proactive approach signals the central bank's strong commitment to thrust economic momentum and boost investor confidence,' Jain added. Except for Media, which was one per cent down on Friday, all other sectoral indices ended higher with metal, auto, and consumer durables jumping over one per cent each. (ANI)