Market Commentary     15-May-24
Mid-Session
Indices erase early losses; realty shares in demand
The key domestic indices erased early gains and traded with minor cuts in morning trade. The Nifty traded below the 22,200 level after hitting the day's high of 22,297.55. Realty shares extended gains for the third consecutive trading session.

At 10:29 ST, the barometer index, the S&P BSE Sensex, was down 219.26 points or 0.31% to 72,879.01. The Nifty 50 index shed 40.45 points or 0.18% to 22,177.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.43% and the S&P BSE Small-Cap index added 0.64%.

The market breadth was strong. On the BSE, 2,164 shares rose and 1,289 shares fell. A total of 155 shares were unchanged.

Results Today:

Power Finance Corporation (up 2.50%), LIC Housing Finance (up 0.58%), Clean Science and Technology (up 1.16%), CMS Info Systems (up 1.30%), Dixon Technologies (India) (down 0.82%), Granules India (down 0.70%), Indian Energy Exchange (up 0.31%), Jindal Stainless (down 2.73%), Jyothy Labs (up 1.73%), Mankind Pharma (down 0.15%), Medi Assist Healthcare Services (up 0.46%), NLC India (up 1.81%) and Shriram Asset Management (up 5.32%) will announce their quarterly earnings later in the day.

New Listing:

Shares of Aadhar Housing Finance were currently trading at Rs 311.65 at 10:15 IST on the BSE, representing a discount of 1.06% as compared with the issue price of Rs 315.

The scrip was listed at Rs 314.30, exhibiting a discount of 0.22% to the issue price.

So far, the stock has hit a high of 329.80 and a low of 293.35. On the BSE, over 11.59 lakh shares of the company were traded in the counter so far.

Shares of TBO TEK were currently trading at Rs 1,378.55 at 10:17 IST on the BSE, representing a premium of 49.84% as compared with the issue price of Rs 920.

The scrip was listed at Rs 1,380, exhibiting a premium of 50% to the issue price.

So far, the stock has hit a high of 1,455.95 and a low of 1,275. On the BSE, over 3.82 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index added 1.54% to 970. The index gained 3.72% in the three trading sessions.

Oberoi Realty (up 4.88%), Brigade Enterprises (up 4.14%), Sobha (up 3.85%), Prestige Estates Projects (up 3.75%), Mahindra Lifespace Developers (up 1.6%), Macrotech Developers (up 1.58%), Godrej Properties (up 0.67%), Sunteck Realty (up 0.6%), DLF (up 0.52%) and Phoenix Mills (up 0.32%) edged higher

Stocks in Spotlight:

Aurionpro Solutions gained 2.45% after the company’s board recommended a bonus issue of shares in the ratio of 1:1 to existing shareholders.

Bigbloc Construction shed 0.06%. The company has announced a temporary shutdown of its Umargam plant for a period of 45 to 60 days.

Bharti Hexacom rose 0.76%. The company’s standalone net profit jumped 10.25% to Rs 223 crore in Q4 FY24 as compared with Rs 202 crore in Q4 FY23.

Archean Chemical Industries slipped 4.10%. The company’s reported 56.4% fall in net profit to Rs 59.64 crore on a 25.9% decline in net sales to Rs 283.39 crore in Q4 FY24 as compared with Q4 FY23.

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 ( Corporate News - 05-Jul-24   14:24 )
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