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The key equity indices traded with minor gains in mid-afternoon trade. The Nifty traded above the 18,150 mark after hitting day's low of 18,060.40 in morning trade. Realty shares witnessed bargain buying after declining for three consecutive trading sessions.
At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 177.15 points or 0.29% to 61,608.89. The Nifty 50 index gained 39.10 points or 0.22% to 18,169.05.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 0.10% while the S&P BSE Small-Cap index fell 0.23%.
The market breadth was negative. On the BSE, 1,528 shares rose and 1,868 shares fell. A total of 143 shares were unchanged.
Numbers to track:
The yield on India's 10-year benchmark federal paper declined to 6.978 as compared with previous close of 6.983.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.72, compared with its close of 82.6225 during the previous trading session.
MCX Gold futures for 5 June 2023 settlement added 0.32% to Rs 59,916.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.25% to 103.33.
The United States 10-year bond yield fell 0.33% to 3.644.
In the commodities market, Brent crude for July 2023 settlement advanced 39 cents or 0.51% to $76.25 a barrel.
Buzzing Index:
The Nifty Realty advanced 0.56% to 457.30, the index slipped 3.75% in past three trading session.
Brigade Enterprises (up 2.63%), Oberoi Realty (up 2.27%), DLF (up 2.08%), Indiabulls Real Estate (up 0.64%), Godrej Properties (up 0.6%) were the top gainers. Among the other gainers were Mahindra Lifespace Developers (up 0.33%) advanced.
On the other hand, Macrotech Developers (down 2.22%), Phoenix Mills (down 2.16%) and Sobha (down 0.85%) declined.
Earnings impact:
Hindustan Construction Company (HCC) rallied 9.10% after the company's consolidated net profit surged to Rs 189.84 crore in Q4 FY23 from Rs 15.92 crore in Q4 FY22. Revenue from operations rose 5.94% to Rs 3,094.09 crore in Q4 FY23 as compared with Rs 2,920.60 crore in Q4 FY22.
Uno Minda declined 5.02%. The company's consolidated net profit rose 26.5% to Rs 182.65 crore on 19.6% increase in revenue from operation to Rs 2,888.97 crore in Q4 FY23 over Q4 FY22.
Krishna Institute Medical Science (KIMS) slipped 0.41%. The company reported 15.6% rise in consolidated net profit to Rs 93.27 core in Q4 FY23 as compared with Rs 80.68 crore in Q4 FY22. Revenue from operations for the quarter jumped 54.68% year on year to Rs 575.92 crore.
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