Barometers trade sideways; realty shares decline for 4th day

The frontline indices traded sideways in morning trade. The Nifty traded below the 23,650 mark. Realty shares extended losses for the fourth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex rose 15.95 points or 0.02% to 78,154.96. The Nifty 50 index lost 8.85 points or 0.04% to 23,635.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.02% and the S&P BSE Small-Cap index gained 0.58%.

The market breadth was strong. On the BSE, 2,338 shares rose and 1,174 shares fell. A total of 181 shares were unchanged.

Economy:

Indias fiscal deficit reached Rs 8.5 lakh crore in the first eight months of the fiscal year (April-November), representing 52.5% of the budgeted target, according to government data released on December 31st. This exceeds the deficit recorded during the same period in the previous fiscal year, which stood at 50.7%.

 

Capital expenditure, though improving, lagged behind last year's pace. At Rs 5.13 lakh crore, it amounted to 46.2% of the budgeted target of Rs 11.1 lakh crore, compared with 58.5% achieved in the corresponding period of the previous fiscal year. Overall government spending reached 60.1% of the budgeted target, slightly higher than the 59% recorded in the previous year.

Revenue receipts fell short of last year's levels. Net tax revenue collection stood at 55.9%, lower than the corresponding figure in the previous year.

Buzzing Index:

The Nifty Realty index lost 0.80% to 1,043.95. The index fell 3.09% in four consecutive trading sessions.

Phoenix Mills (down 1.44%), Oberoi Realty (down 1.2%), DLF (down 0.97%), Prestige Estates Projects (down 0.7%), Godrej Properties (down 0.42%), Macrotech Developers (down 0.4%) and Brigade Enterprises (down 0.38%) declined.

On the other hand, Raymond (up 1.70%), Mahindra Lifespace Developers (up 0.30%) and Sobha (up 0.21%) edged higher.

Stocks in Spotlight:

Dynacons Systems & Solutions rallied 3.17% after the company secured turnkey data centre IT infrastructure augmentation project of Canara Bank worth Rs 280 crore.

SJVN jumped 5.75% after the company has signed Memorandum of Understanding (MoU) with Govt of Bihar for development of 1,000 MW Hathidah Durgawati pumped storage project and other PSPs in Bihar.

NCC advanced 2.21% after the company announced that it has received an order worth Rs 349.70 crore from a private company for its Building Division.

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