Nifty below 23,200 level; realty shares decline

The key equity benchmarks traded with major cuts in morning trade, mirroring a broad selloff across Asian markets amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Investor sentiment was further pressured by concerns over a possible interest rate hike in the United States. Nifty traded below the 23,200 level. Realty shares declined after advancing over the previous two trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 596.85 points or 0.80% to 73,636.95. The Nifty 50 index fell 173.95 points or 0.74% to 23,190.45.

In the broader market, the BSE 150 MidCap Index declined 0.85% and the BSE 250 SmallCap Index shed 0.91%.

The market breadth was weak. On the BSE, 1,431 shares rose and 2,416 shares fell. A total of 229 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.64% to 17.

In the commodities market, Brent crude for August 2026 settlement rose $4.19 or 4.50% to $97.28 a barrel, after Israel launched fresh attacks on Lebanon over the weekend despite a ceasefire, raising concerns over regional stability and the smooth flow of oil shipments through the strategically important Strait of Hormuz.

Buzzing Index:

The Nifty Realty index fell 1.54% to 757.05. The index rose 0.82% in the past two trading sessions.

Anant Raj (down 3.24%), DLF (down 2.43%), Godrej Properties (down 2.36%), Lodha Developers (down 1.91%), Brigade Enterprises (down 1.54%), Prestige Estates Projects (down 1.51%), Sobha (down 1.39%), Aditya Birla Real Estate (down 1.28%), Oberoi Realty (down 0.9%) and Phoenix Mills (down 0.36%) fell.

Stocks in Spotlight:

Creative Newtech jumped 17.40% after the company, along with its consortium partner, had received an advance work order (AWO) from Bharat Sanchar Nigam (BSNL), acting on behalf of Digital Bharat Nidhi, Government of India.

Sigma Advanced Systems declined 4.59%. The company secured an export contract worth $21.97 million (around Rs 208 crore) for the manufacture and supply of 40,000 units of 155 mm M107 artillery shell bodies to a North American customer.

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