Nifty hovers below 23,550 mark; realty shares decline

The key equity indices continued to trade in negative terrain with significant losses in the morning trade. The Nifty hovered below the 23,550 mark. Realty shares extended losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 483.03 points or 0.62% to 77,765.10. The Nifty 50 index dropped 121.65 points or 0.51% to 23,523.25.

In the broader market, the S&P BSE Mid-Cap index fell 0.78% and the S&P BSE Small-Cap index declined 0.33%.

The market breadth was negative. On the BSE, 1,554 shares rose and 2,020 shares fell. A total of 156 shares were unchanged.

 

New Listing:

Shares of Unimech Aerospace and Manufacturing were currently trading at Rs 1,375.85 at 10:18 IST on the BSE, representing a premium of 75.27% as compared with the issue price of Rs 785.

The scrip was listed at Rs 1,491, exhibiting a premium of 89.94% to the issue price.

So far, the stock has hit a high of 1,491 and a low of 1,355.05. On the BSE, over 4.21 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index lost 0.77% to 1,046.75. The index fell 2.83% in three consecutive trading sessions.

Macrotech Developers (down 4.42%), Phoenix Mills (down 2.61%) and Godrej Properties (down 2.14%) declined.

On the other hand, Prestige Estates Projects (up 1.11%), Brigade Enterprises (up 0.60%) and Mahindra Lifespace Developers (up 0.59%) edged higher.

Stocks in Spotlight:

Jubilant Ingrevia advanced 2.64% after the companys wholly owned subsidiary, Jubilant Infrastructure (JIL) board has approved to purchase 6.67% stake in Forum I Aviation Private (FAPL) from Hero Fincorp & Sunil Kant Munjal.

KPI Green Energy rose 0.21%. The company said that it has obtained approvals from the chief electrical inspector (CEIG) for 28.28 MW of solar power projects under CPP business segment.

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