Nifty trades above 24,550 mark; realty shares declined

The domestic equity indices continued to trade with decent gains in morning trade, maintaining upward momentum, as investor sentiment remained upbeat ahead of the upcoming RBI policy meeting. However, market participants will closely track domestic economic indicators, Brent crude oil prices and global trade development. The Nifty traded above the 24,550 mark.

Realty shares declined, as investors booked profits following gains in the previous two trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex, 169.01 points or 0.21% to 80,906.52. The Nifty 50 index added 47.75 points or 0.20% to 24,590.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index added 0.23%.

The market breadth was positive. On the BSE, 1,872 shares rose and 1,691 shares fell. A total of 229 shares were unchanged.

The Reserve Bank of India commenced its monetary policy meeting today, 4 June 2025, which will conclude on 6 June 2025. The meeting is being chaired by Governor Sanjay Malhotra. With inflation showing signs of moderation, market participants are speculating on the possibility of a rate cut.

New Listing:

Shares of Scoda Tubes were currently trading at Rs 146.95 at 10:26 IST on the BSE, representing a premium of 4.96% compared with the issue price of Rs 140.

The scrip was listed at 140, matching the initial public offer (IPO) price. The stock was currently up 4.96% over its listing price.

So far, the stock has hit a high of 146.95 and a low of 136. On the BSE, over 4.38 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index declined 0.67% to 976.35. The index jumped 3.53% in the past two trading sessions.

Brigade Enterprises (down 2.09%), Anant Raj (down 1.97%), Phoenix Mills (down 1.86%), Oberoi Realty (down 1.56%), Godrej Properties (down 1.07%), DLF (down 0.65%), Sobha (down 0.46%) and Raymond (down 0.41%) declined.

Stocks in Spotlight:

Gland Pharma advanced 1.21% after the company said that it has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Angiotensin II Acetate Injection.

Servotech Renewable Power surged 12.12% after the company received a significant order for a 7.8 MW grid-connected solar rooftop project by the Rangiya Division of the Northeast Frontier Railway. The order, valued at Rs. 336 Million, also includes a comprehensive 5-year Annual Maintenance Contract (AMC)/Comprehensive Annual Maintenance Contract (CAMC) for various buildings within the Rangiya Division.

R Systems International added 1.66% after the company announced strategic partnership with Mavvrik, a leader in AI cost governance, to help enterprises gain visibility and precise financial control over rapidly escalating AI, cloud, and hybrid infrastructure investments.

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