Sensex, Nifty hit new life high; realty shares in demand

The equity benchmarks traded with minor gains in morning trade. The Nifty traded above the 24,400 level. Realty shares advanced for the third consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, added 197.57 points or 0.24% to 83,088. The Nifty 50 index rose 49.65 points or 0.20% to 25,406.15.

The Sensex and Nifty clocked an all-time high of 83,184.34 and 25,445.70, respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.12% and the S&P BSE Small-Cap index added 20%. The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit a record high of 49,506.01 and 57,502.74 respectively.

The market breadth was positive. On the BSE, 2,105 shares rose and 1,640 shares fell. A total of 171 shares were unchanged.

New Listing :

Shares of Bajaj Housing Finance were currently trading at Rs 154.81 at 10:06 IST on the BSE, representing a premium of 121.16% as compared with the issue price of Rs 70.

The scrip was listed at Rs 150, exhibiting a premium of 114.29% to the issue price.

So far, the stock has hit a high of 160.92 and a low of 147. On the BSE, over 269.25 lakh shares of the company were traded in the counter so far.

Shares of Tolins Tyres were currently trading at Rs 238.80 at 10:11 IST on the BSE, representing a premium of 5.44% as compared with the issue price of Rs 226.

The scrip was listed at Rs 227, exhibiting a marginal premium to the issue price.

So far, the stock has hit a high of 238.30 and a low of 226.50. On the BSE, over 1.35 lakh shares of the company were traded in the counter so far.

Shares of Kross were currently trading at Rs 259.10 at 10:17 IST on the BSE, representing a premium of 7.96% as compared with the issue price of Rs 240.

The scrip was listed at Rs 240, matching the issue price.

So far, the stock has hit a high of 264 and a low of 231.80. On the BSE, over 9.37 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index added 1.30% to 1,067.30. The index advanced 3.95 % in the three consecutive trading sessions.

Macrotech Developers (up 4.12%), Phoenix Mills (up 2.2%), Sobha (up 1.55%), Oberoi Realty (up 0.88%) and DLF (up 0.71%), Godrej Properties (up 0.58%), Brigade Enterprises (up 0.48%) and Sunteck Realty (up 0.04%) edged higher.

On the other hand, Mahindra Lifespace Developers (down 0.78%), Prestige Estates Projects (down 0.12%) edged lower.

Stocks in Spotlight:

Samvardhana Motherson International fell 0.13%. The company informed that the board of its subsidiary SMRC Automotive Holdings Netherlands B.V. has approved to execute a joint venture (JV) agreement with Hamakyorex Co., Japan.

Adani Power jumped 5.94% while Adani Green Energy rallied 6.12% after the company said that it will signed a long term power purchase agreement (PPA) and supply power agreement (SPA) with Maharashtra State Electricity Distribution Company (MSEDCL) for supply of 6600 MW hybrid solar and thermal power.

Adani power will supply 1,496 MW (net) thermal power to Maharashtra from a new 1,600 MW Ultra-supercritical thermal power project and Adani Green Energy will also supply 5 GW (5000 MW) solar power from its renewable energy park being developed at Khavda in Kutch District of Gujarat, to Maharashtra state.