Market trade near flat line; realty shares in demand

The equity benchmark indices traded with tiny gains in morning trade. The Nifty traded above the 24,150 mark after hitting days low of 24,073.65 in morning trade. Realty shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex was up 43.91 points or 0.06% to 79,520.10. The Nifty 50 index added 12.40 points or 0.05% to 24,154.35.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.11% and the S&P BSE Small-Cap index rose 0.48%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,285.41, respectively.

The market breadth was strong. On the BSE, 2,199 shares rose and 1,384 shares fell. A total of 154 shares were unchanged.

New Listing:

Shares of Allied Blenders and Distillers were currently trading at Rs 310.20 at 10:15 IST on the BSE, representing a premium of 10.39% as compared with the issue price of Rs 281.

The scrip was listed at Rs 318.10, exhibiting a 2.48% discount to the issue price.

So far, the stock has hit a high of 319.90 and a low of 307.15 On the BSE, over 16.86 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index gained 1.55% to 1,118.10. The index shed 0.33% in the past trading session.

Brigade Enterprises (up 2.71%), Sobha (up 2.67%), Godrej Properties (up 2.46%), DLF (up 0.38%), Prestige Estates Projects (up 0.36%), Phoenix Mills (up 0.3%), Oberoi Realty (up 0.12%), Sunteck Realty (up 0.05%) and Mahindra Lifespace Developers (up 0.03%) advanced.

Godrej Properties said that it has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.

Stocks in Spotlight:

TVS Motor Company rose 0.44%. The companys Total sales were up 5% year-on-year at 3.33 lakh units in June. 2-wheeler sales went up 6% at 3.22 lakh units, motorcycle sales up 3% at 1.52 lakh units, scooter sales up 6% at 1.28 lakh units, EV sales up 10% at 15,859 units and total exports down 4% at 76,074 units.

Hero MotoCorp added 0.76%. The companys total sales went up 15% year-on-year to 5.03 lakh units in June. Domestic sales were up 16% at 4.91 lakh units, exports were down 15% at 12,032 units, and motorcycle sales were up 17% at 4.73 lakh units for the month of June.

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