Nifty climbs above 25,000 level; realty shares advance
The key domestic indices traded with significant gains in morning trade, showing resilience in the face of escalating tensions between Israel and Iran. Market sentiment, however, remains sensitive to global cues, including crude oil prices and other international developments. The Nifty traded above the 25,000 level and Sensex crossed 82,150 mark.
Realty shares jumped after declining in the past three trading sessions.
At 10:30 IST, the barometer index, the S&P BSE Sensex advanced 816.02 points or 1% to 82,176.13. The Nifty 50 index jumped 232.45 points or 94% to 25,015.
In the broader market, the S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index shed 0.54%.
The market breadth was strong. On the BSE, 2,271 shares rose and 1,203 shares fell. A total of 183 shares were unchanged.
IPO Listing:
Shares of Oswal Pumps were currently trading at Rs 641.20 at 10:14 IST on the BSE, representing a premium of 4.43% compared with the issue price of Rs 614.
The scrip was listed at 632, exhibiting a premium of 2.93% to the issue price.
So far, the stock has hit a high of 646.25 and a low of 625.20. On the BSE, over 6.96 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty Realty index advanced 1.26% to 1,005.30. The index declined 2.7% in the past three trading sessions.
Macrotech Developers (up 1.8%), Godrej Properties (up 1.54%), Brigade Enterprises (up 1.47%), Phoenix Mills (up 1.06%), Prestige Estates Projects (up 1.01%), Anant Raj (up 0.66%), Oberoi Realty (up 0.62%), Sobha (up 0.37%) and DLF (up 0.19%) advanced.
Stocks in Spotlight:
TD Power Systems rose 1.10% after the company secured an order worth Rs 67 crore from a leading multinational corporation for the supply of components for traction motors meant for export.
ITD Cementation India declined 1.68%. The company announced that it has secured two major contracts cumulatively valued at approximately Rs 960 crore, excluding GST.
Natco Pharma shed 0.68%. Natco Pharma announced that its pharmaceutical manufacturing facility in Kothur, Hyderabad, has received seven observations from the United States Food and Drug Administration (USFDA) following a recent inspection.
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