Market Commentary     24-May-24
Barometers pares all gains ; realty shares decline
The domestic equity benchmarks pared early gains and traded near the flat line in the morning trade. The Nifty traded below the 22,950 mark. Realty shares slipped after advancing in past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 49.69 points or 0.06% to 75,368.41. The Nifty 50 index added 18.75 points or 0.08% to 22,948.90.

In the broader market, the S&P BSE Mid-Cap index added 0.07% and the S&P BSE Small-Cap index rose 0.33%.

The market breadth was positive. On the BSE, 1,754 shares rose and 1,677 shares fell. A total of 168 shares were unchanged.

Results Today :

NTPC (down 0.35%), Hindalco Industries (up 1.69%), BOSCH (up 0.06%), Torrent Pharmaceuticals (down 1.34%), United Spirits (up 0.48%), Ashok Leyland (down 0.31%), Glenmark Pharmaceuticals (down 1.46%), Manappuram Finance (up 0.59%), Karnataka Bank (down 1.41%), Hindustan Copper (up 1.20%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Realty index lost 0.78% to 1,022.35. The index jumped 2.55% in the past two trading sessions.

Godrej Properties (down 2.93%), Prestige Estates Projects (down 0.86%), Oberoi Realty (down 0.76%), DLF (down 0.36%) and Sobha (down 0.26%) declined.

On the other hand, Mahindra Lifespace Developers (up 0.87%), Brigade Enterprises (up 0.59%) and Sunteck Realty (up 0.53%) edged higher.

Stocks in Spotlight:

Biocon jumped 4.76% after the company announced the signing of an exclusive licensing and supply agreement with South Korea-based Handok for the commercialization of its vertically integrated & complex drug product Synthetic Liraglutide.

Brigade Enterprises shed 0.62%. The company said that it has signed Joint Development Agreement (JDA) to develop a residential project on old madras road, Bengaluru with gross development value of Rs 720 crore.

Previous News
  Biocon Ltd eases for fifth straight session
 ( Hot Pursuit - 12-Jul-24   13:36 )
  Brigade Group launches residential project “Cobalt at Brigade EI Dorado”
 ( Corporate News - 11-Jul-24   16:08 )
  Nifty near 24,350; realty shares rally for 3rd day
 ( Market Commentary - Mid-Session 04-Jul-24   12:33 )
  Indices came off the days high; IT shares extent gains for 6th day
 ( Market Commentary - Mid-Session 04-Jul-24   10:37 )
  Brigade Enterprises edges higher after signing JDA for Rs 1100-cr residential project in Bengaluru
 ( Hot Pursuit - 04-Jul-24   09:48 )
  Sensex climbs 303 pts; PSU banks advance
 ( Market Commentary - Mid-Session 28-Jun-24   10:33 )
  BrigadeEnt edges higher after launching Rs 1100-cr premium residential project in Bengaluru
 ( Hot Pursuit - 28-Jun-24   09:39 )
  Brigade Group launches premium residential project 'Brigade Insignia' in Bengaluru
 ( Corporate News - 28-Jun-24   09:26 )
  Nifty below 23,450 mark; media shares under pressure
 ( Market Commentary - Mid-Session 24-Jun-24   10:33 )
  Biocon's new monoclonal antibodies facility in India get manufacturing approval from EMA
 ( Hot Pursuit - 24-Jun-24   09:34 )
  Biocon Biologics receives GMP certifications for its Indian and Malaysian manufacturing units
 ( Corporate News - 24-Jun-24   09:01 )
Other Stories
  Indices turn rangebound; oil & gas stocks climb for 3rd day
  12-Jul-24   14:33
  Sensex spurts 742 pts, European mkt open higher
  12-Jul-24   13:38
  Nifty trades near 24,500 level; Private bank shares rally for 2nd day
  12-Jul-24   12:32
  Market hits new life high; IT shares in demand
  12-Jul-24   11:32
  Nifty above 24,350; media shares rally for 2nd day
  12-Jul-24   10:32
  Market opens on a firm note; breadth strong
  12-Jul-24   09:35
  Indices trade with tiny cuts; oil & gas shares rise
  11-Jul-24   14:34
  Barometers turn rangebound; European mkt opens higher
  11-Jul-24   13:43
  Market trade in negative terrain; financial services shares under pressure
  11-Jul-24   12:30
  Sensex down 274 pts; realty shares slide
  11-Jul-24   11:32
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