Sensex, Nifty trade with tiny cuts; realty shares slide for 4th day

The headline equity indices continued to trade with small losses in early afternoon trade. The Nifty traded near the 24,400 level after hitting the days high of 24,480.65 in early trade. Realty shares extended losses for the fourth consecutive trading session. Trading could be volatile due to weekly F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex, shed 19.67 points or 0.02% to 80,062.31. The Nifty 50 index lost 33.50 points or 0.14% to 24,402.

In the broader market, the S&P BSE Mid-Cap index shed 0.07% and the S&P BSE Small-Cap index shed 0.34%.

The market breadth was negative. On the BSE, 1,620 shares rose and 2,151 shares fell. A total of 139 shares were unchanged.

Economy:

India's private sector economy continued to showcase robust growth in October, according to the latest HSBC flash PMI survey compiled by S&P Global.

The HSBC Flash India Composite Output Index a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors stood at 58.6 in October 2024 as compared with 58.3 in September 2024. Manufacturers outperformed service providers regarding rates of expansion for output and sales, and also recorded faster increases in input costs and selling charges.

The HSBC Flash India Manufacturing PMI a single-figure snapshot of factory business conditions calculated from measures of new orders, output, employment, supplier delivery times and stocks of purchases recovered from September's eight-month low of 56.5 to 57.4 in October.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.40% to 14.13. The Nifty 31 October 2024 futures were trading at 24,453.95, at a premium of 53.95 points as compared with the spot at 24,400.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 55 lakh contracts at the 25,000 strike price. Maximum Put OI of 52.6 lakh contracts were seen at 24,500 strike price.

Buzzing Index:

The Nifty Realty index rose 0.96% to 987.55. The index tumbled 5.70% in four consecutive trading sessions.

Macrotech Developers (down 2.52%), Phoenix Mills (down 1.61%), Sobha (down 1.51%), Prestige Estates Projects (down 1.42%), Brigade Enterprises (down 0.82%), Mahindra Lifespace Developers (down 0.29%) edged lower.

On the other hand, Oberoi Realty (up 1.09%) ,Godrej Properties (up 0.49%) and Raymond (up 0.43%) edged higher.

Stocks in Spotlight :

Thyrocare Technologies added 1.83% after the healthcare service provider reported 31.12% increase in consolidated net profit to Rs 26.67 crore in Q2 FY25 from Rs 20.34 crore posted in Q2 FY24. Revenue from operations grew by 19.99% year on year (YoY) to Rs 177.36 crore in the quarter ended 30 September 2024.

Navin Fluorine International rallied 3.74%. The company reported consolidated net profit of Rs 58.82 crore in Q2 FY25, down 2.90% as against Rs 60.58 crore in Q2 FY24. Revenue from operations jumped 9.91% to Rs 518.56 crore in Q2 FY25 as against Rs 471.79 crore posted in Q2 FY24.

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