Nifty above 24,300; realty shares in demand

The frontline indices traded with modest gains in morning trade. The Nifty traded above the 24,300 level. Realty shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex rallied 380.96 points or 0.49% to 79,857.59. The Nifty 50 index rallied 117.85 points or 0.49% to 24,331.15.

In the broader market, the S&P BSE Mid-Cap index rallied 1.22% and the S&P BSE Small-Cap index gained 0.95%.

The market breadth was strong. On the BSE, 2,778 shares rose and 839 shares fell. A total of 154 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 4.31% to 15.43.

Result Today:

Power Grid Corporation of India (down 0.13%), Apollo Hospitals (up 0.13%), Tata Steel (down 0.76%), Aadhar Housing Finance (up 0.81%), Jindal Steel & Power (up 1.50%), Blue Star (up 1.77%), Chambal Fertilisers (up 1.77%), Delta Corp (up 0.42%), Endurance Technologies (up 0.65%), Gandhar Oil Refinery (down 0.16%), GE Power India (up 2.08%), Gujarat Pipavav Port (up 1.61%), Granules India (up 1.73%), Gujarat Gas (up 1.72%), JB Chemicals (down 0.51%), JK Lakshmi Cement (down 0.59%), Rites (up 0.82%), Sonata Software (up 1.93%), TeamLease Services (up 1%), Thangamayil Jewellery (up 0.95%) and Trident (up 0.85%) will declare their quarterly earnings later today.

Buzzing Index:

The Nifty Realty jumped 1.77% to 1,003.05. The index rallied 2.40% in two consecutive trading sessions.

Brigade Enterprises (up 2.58%), Prestige Estates Projects (up 2.48%), Mahindra Lifespace Developers (up 2.06%), DLF (up 1.73%), Godrej Properties (up 1.65%), Macrotech Developers (up 1.55%), Sobha (up 1.50%), Oberoi Realty (up 1.18%) and Phoenix Mills (up 0.19%) advanced.

Stocks in Spotlight:

GAIL (India) jumped 5.91% after the companys consolidated net profit increased 10.13% to Rs 2,689.67 crore on 2.7% rise in revenue from operations (excluding excise duty) to Rs 33,888.90 in Q2 FY25 over Q2 FY24.

Berger Paints added 0.65%. The paint majors consolidated net profit decrease 7.53% to Rs 269.66 crore in Q2 FY25 as against Rs 291.64 crore posted in Q2 FY24. Revenue from operations rose marginally to Rs 2,774.61 crore in Q2 FY25 as against Rs 2,767.30 crore posted in Q2 FY24.

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