Market remains under pressure; realty shares tumble

The key equity benchmarks remained under pressure in early afternoon trade, with investors adopting a cautious stance amid rising Brent crude prices, weakness in the rupee against the US dollar and subdued global cues following reports of NVIDIA CEO's resignation. The Nifty hovered around the 25,100 mark as selling pressure persisted across the market.

Realty shares declined after advancing in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 482.56 points or 0.59% to 81,427.95. The Nifty 50 index dropped 198.10 points or 0.78% to 25,100.90.

In the broader market, the Nifty MidCap 150 Index fell 0.41% and the Nifty SmallCap 250 Index shed 0.40%.

The market breadth was weak. On the NSE, 1,429 shares rose and 2,193 shares fell. A total of 119 shares were unchanged.

The rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.1925 compared with its close of 94.1200 during the previous trading session. Brent crude for December 2026 settlement rose 19 cents or 0.20% to $96.01 a barrel

Buzzing Index:

The Nifty Realty index declined 1.09% to 924.05. The index jumped 4.51% in the past trading session.

Phoenix Mills (down 1.84%), Sobha (down 1.81%), Brigade Enterprises (down 1.78%), Anant Raj (down 1.54%), Prestige Estates Projects (down 1.41%), Godrej Properties (down 0.98%), DLF (down 0.68%), Oberoi Realty (down 0.36%), Lodha Developers (down 0.24%).

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.76% to 16.16. The Nifty 23 November 2026 futures were trading at 25,115 at a premium of 14.10 points as compared with the spot at 25,100.90.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 75.9 lakh contracts at the 26,000 strike price. A maximum put OI of 70.7 lakh contracts was seen at the 25,000 strike price.

Stocks in Spotlight:

Fiem Industries surged 6.39% after the company reported a 31.9% year-on-year increase in consolidated net profit to Rs 84 crore in Q2 FY27. Sequentially, net profit rose 29.5% from Rs 64.88 crore in Q1 FY27. Revenue from operations increased 31% year on year to Rs 937.34 crore from Rs 715.39 crore. Sequentially, revenue grew 20.9% from Rs 775.39 crore.

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