Market Commentary - Mid-Session
Sensex declines 150 pts; realty shares slide for 5th day As on : 04-Oct-24  10:32

The domestic equity benchmarks traded with minor losses in morning trade, influenced by weak sentiment in global markets stemming from increasing concerns over the potential escalation of conflict between Israel and Iran. The Nifty traded near the 25,200 level. Realty shares extend losses for the fifth consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 149.88 points or 0.18% to 82,353.04. The Nifty 50 index fell 46.90 points or 0.19% to 25,203.20.

In the broader market, the S&P BSE Mid-Cap index fell 0.25% and the S&P BSE Small-Cap index shed 0.23%.

The market breadth was negative. On the BSE, 1,706 shares rose and 1,917 shares fell. A total of 167 shares were unchanged.

New Listing:

Shares of Diffusion Engineers were currently trading at Rs 197.35 at 10:15 IST on the BSE, representing a premium of 17.47% as compared with the issue price of Rs 168.

The scrip was listed at Rs 188, exhibiting a premium of 11.90% to the issue price.

So far, the stock has hit a high of 197.35 and a low of 188. On the BSE, over 1.34 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index declined 2.05% to 1,027.50. The index slumped 9.17% in five consecutive trading sessions.

Macrotech Developers (down 2.8%), Godrej Properties (down 2.64%), Prestige Estates Projects (down 2.17%), DLF (down 1.97%), Phoenix Mills (down 1.89%), Raymond (down 0.94%), Oberoi Realty (down 0.65%), Sobha (down 0.51%) edged lower.

On the other hand, Mahindra Lifespace Developers (up 1.14%), Brigade Enterprises (up 0.38%) edged higher.

Stocks in Spotlight:

Angel One slipped 2.75%. The company said that its client base jumped 61% to 27.49 million in September 2024 as compared with 17.07 million in September 2023.

Shilpa Medicare added 2.43% after the pharma major informed that its 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Desmopressin.

Alembic Pharmaceuticals gained 1.28% after the company said that it has received final approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) Alcaftadine Ophthalmic Solution.

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