At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 2186.57 points or 7.92% at 29,777.52. The Nifty 50 index was up 629.25 points or 7.78% at 8,713.05.
In the broader market, the S&P BSE Mid-Cap index added 4.87% while the S&P BSE Small-Cap index jumped 3.90%. Both these indices underperformed the Sensex.
The market breadth was strong. On the BSE, 1767 shares rose and 531 shares fell. A total of 192 shares were unchanged. In Nifty 50 index, 48 stocks advanced while 2 stocks declined.
Buzzing Index:
The Nifty Realty index jumped 6.39% to 183.05.
DLF (up 6.69%), Prestige Estates (up 5.53%), Brigade Enterprises (up 5.29%), Indiabulls Real Estate (up 4.79%), HDIL (up 4.64%), Unitech (up 3.94%) and Oberoi Realty (up 2.58%) advanced.
Godrej Properties spurted 14.97% after the company announced its operational updates for Q4 and FY20 on Monday, 6 April 2020. The company said its total booking value jumped 11% to Rs 5,915 crore in FY20 over FY19. Residential sales soared 14% to Rs 5,840 crore (comprising of over 7,300 homes sold). Godrej Properties launched 17 new projects and phases in FY20 including 6 launches in Q4 March 2020. The sustenance sales grew 48% year-on-year (YoY) to Rs 3,048 crore in FY20.
Real estate firm Sobha surged 10%. The company on Friday (3 April) said total new sales volume decreased by 19.8% to 9.06 lakh square feet in Q4 March 2020 over Q4 March 2019. Sales volume inched up 1% to 40,71,704 square feet in the year ended March 2020 compared with 40,29,779 square feet in the year ended March 2019. Total sales value fell 25% to Rs 694.5 crore while Sobha's share in total sales declined by 22% to Rs 553.6 crore on a year-on-year basis.
Stocks in Spotlight:
PNB Housing Finance rose 4.15% to Rs 168.30. The housing finance company has signed an agreement with Japan International Cooperation Agency (JICA), one of the largest bilateral development organisations in the world, to raise US$ 75 million with co-financing of US$25 million by Citibank(Citi) for the purpose of providing affordable housing to low income households in India based on the Facility for Accelerating Financial Inclusion in Asia.
Manali Petrochemical hit 20% upper circuit at Rs 12.34. The company has resumed production of Propylene Glycol at both its plants. The plant operations have been shut down from March 27, 2020 on account of the 21-day lockdown to break the chain of the coronavirus infections.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee edged higher to 75.64 compared with its previous closing of 76.13.
The yield on 10-year benchmark federal paper rose to 6.410% at 14:21 IST compared with 6.306% in the previous trading session.
In the commodities market, Brent crude for June 2020 settlement was up 30 cents to $33.35 a barrel. The contract fell $1.06 or 3.10% to settle at $33.05 a barrel in the previous trading session.
MCX Gold futures for 5 June 2020 settlement rose 2.82% to Rs 44956.
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