The key equity barometers marched towards the day's high in mid afternoon trade. The Nifty was trading above the 17,900 mark. Realty stocks, however, corrected after a recent surge.
At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 454.94 points or 0.76% to 60,132.77. The Nifty 50 index added 129.70 points or 0.73% to 17,920.05.
In the broader market, the S&P BSE Mid-Cap index rose 0.29% while the S&P BSE Small-Cap index gained 0.90%.
Among the broader market stocks, Nazara Technologies (up 12.17%), Zensar Technologies (up 10.47%), Ashoka Buildcon (up 10.28%), Uflex (up 8.78%) and Indian Energy Exchange (up 8.66%) were the top gainers.
HFCL (down 3.79%), Caplin Point Laboratories (down 3.06%), Infibeam Avenues (down 2.63%), Kalyan Jewellers India (down 2.44%) and Max Financial Services (down 2.21%) were the top losers.
Also Read
The market breadth was positive. On the BSE, 1839 shares rose and 1409 shares fell. A total of 160 shares were unchanged.
The Reserve Bank of India (RBI)'s six-member Monetary Policy Committee (MPC) at its meeting today (8 October 2021) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4%. The reverse repo rate under the LAF remains unchanged at 3.35% and the marginal standing facility (MSF) rate and the bank rate at 4.25%.
The MPC also decided to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward.
These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth, RBI statement said.
Numbers to Track:
MCX Gold futures for 3 December 2021 settlement rose 0.12% to Rs 46,882.
The yield on India's 10-year benchmark federal paper (06.10 GS 2031) was currently at 6.308% as compared with its previous closing of 6.267%.
In the commodities market, Brent crude for December 2021 settlement advanced $1.22 or 1.49% to $83.17 a barrel.
In the foreign exchange market, the partially convertible rupee fell to 75.04 from its previous closing of 74.79.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 94.30.
The dollar edged higher Friday ahead of the release of the highly-anticipated monthly U.S. jobs report, which looks likely to confirm assumptions that the Federal Reserve will start to normalize monetary policy in November.
The Federal Reserve indicated at its last meeting that it is likely to begin reducing its monthly bond purchases as soon as November to be followed by interest rate increases potentially next year.
Buzzing Index:
The Nifty Realty index fell 2.66% to 518.50. The index had jumped 6.16% to end at 532.65 yesterday. In the past one month, the realty index has jumped 24.23% while the benchmark Nifty 50 index has added 3.06% during the same period.
Godrej Properties (down 5.45%), Sobha Developers (down 2.84%), DLF (down 2.04%), The Phoenix Mills (down 1.99%), Brigade Enterprises (down 1.72%), Prestige Estates (down 1.23%) and Indiabulls Real Estate (down 0.93%) declined.
Concurrently, Macrotech Developers (up 1.08%) and Sunteck Realty (up 0.40%) bucked the trend.
Oberoi Realty shed 0.78% to Rs 930.10. The company's units booked in Q2 FY22 were at 200 as against 45 in Q2 FY21 and 39 in Q1 FY21. The booking value in Q2 FY22 was Rs 828.52 crore as compared with Rs 327.30 crore in Q2 FY21 and Rs 169.97 crore in Q1 FY21. The area booked in Q2 was at 4,43,716 square feet as against 1,30,236 square feet in Q2 FY21 and 92,128 square feet in Q1 FY21.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
