Broader mkt rallies; realty shares in demand

The key equity indices traded with significant in morning trade. The Nifty traded below the 24,300 level. Realty shares advanced after declining for the past four consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 664.35 points or 0.74% to 79,350.16. The Nifty 50 index added 180.80 points or 0.75% to 24,236.40.

The broader market outperformed the headline indices, the S&P BSE Mid-Cap index added 1.36% and the S&P BSE Small-Cap index gained 1.64%.

The market breadth was strong. On the BSE, 2,727 shares rose and 890 shares fell. A total of 139 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 11.48% to 18.03.

Results today:

Tata Power (up 2.50%), Vedanta (down 1.03%), TVS Motor (up 0.72%), Lupin (down 0.31%), 3M India (up 2.48%), Bajaj Electricals (up 1.65%), Bata India (up 1.10%), Blue Jet Healthcare (up 1.70%), Blue Star (up 0.22%), BOSCH (up 2.09%), Chambal Fertilizers and Chemicals (up 1.90%), Cummins India (up 1.39%), EIH Hotels (down 0.19%), Fortis Healthcare (up 0.78%), Fusion MicroFinance (up 0.95%), Gland Pharma (up 3.95%), Graphite India (up 1.75%), Gujarat Gas (up 2.87%), Gulf Oil Lubricants India (up 1.91%), IIFL Finance (up 1.39%), Indigo Paints (up 2.49%), J. Kumar Infraprojects (up 2.03%), Linde India (up 1.01%), NCC (up 1.13%), Power Finance Corporation of India (up 2.95%), PI Industries (up 1.86%), PB Fintech (up 0.94%), Raymond (up 3.41%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Realty index added 2.21% to 1,014.20. The index tumbled 7.27% in the past four trading sessions.

Brigade Enterprises (up 6.54%), Godrej Properties (up 5%), DLF (up 2.97%), Oberoi Realty (up 2.57%) and Prestige Estates Projects (up 2.46%), Phoenix Mills (up 2.23%), Sobha (up 1.55%), Sunteck Realty (up 0.95%) edged higher.

On the other hand, Macrotech Developers (down 1.36%), Mahindra Lifespace Developers (down 0.39%) declined.

Stocks in Spotlight:

Bharti Hexacom declined 1.20%. The company’s standalone net profit surged to Rs 511 crore in Q1 FY25 as compared with Rs 223 crore posted in Q1 FY24. Revenue rose 2% YoY to Rs 1,911 crore in Q1 FY25.

Aster DM Healthcare gained 2.98%. The company informed that its chief executive officer (CEO), Dr. Nitish Shetty has tendered his resignation on 5 August 2024, for pursuing an entrepreneurial opportunity.

V-mart Retail surged 9.58%. The company reported standalone net profit of Rs 12 crore in Q1 FY25 as compared with net loss of Rs 22 crore in Q1 FY24. Revenue increased 16% to Rs 786 crore during the quarter as compared with Rs 679 crore posted in corresponding quarter last year.