Nifty below 24,650; realty shares in demand
At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 389.42 points or 0.48% to 80,984.33. The Nifty 50 index fell 103.55 points or 0.42% to 24,611.95.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.18% and the S&P BSE Small-Cap index added 0.25%.
The market breadth was negative. On the BSE, 1,913 shares rose and 1,929 shares fell. A total of 177 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.55% to 17.43. The Nifty 26 Jun 2025 futures were trading at 24,730.20, at a premium of 118.25 points as compared with the spot at 24,611.95.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 54.5 lakh contracts at the 26,000 strike price. A maximum put OI of 51.3 lakh contracts was seen at a 24,000 strike price.
Buzzing Index:
The Nifty Realty index rose 1.32% to 984.10. The index rallied 3.66% in the past two trading sessions.
Sobha (up 6.39%), Brigade Enterprises (up 3.37%), Macrotech Developers (up 2.14%), Prestige Estates Projects (up 2.09%), Oberoi Realty (up 1.46%), Anant Raj (up 1.29%), Godrej Properties (up 0.56%) advanced.
On the other hand, Raymond (down 1.63%), Phoenix Mills (down 0.57%) and DLF (down 0.48%) edged lower.
Stocks in Spotlight:
Larsen & Toubro (L&T) shed 0.99%. The company announced that its water & effluent treatment (WET) vertical has secured significant orders from the Public Health Engineering Department of Rajasthan.
MIC Electronics shed 0.78%. The company said that it has received a letter of acceptance (LoA) worth Rs 1.11 crore from the Pandit Deen Dayal Upadhyaya Division of East Central Railway.
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