Market Commentary - Mid-Session
Nifty near 26,200 level; realty shares witness profit booking As on : 27-Sep-24  14:38

The frontline indices traded with minor cuts in mid-afternoon trade. The Nifty traded near the 26,200 level after hitting day's high of 26,277.35 in mid-morning trade. Realty shares declined after advancing in the past two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex slipped 187.38 points or 0.22% to 85,652.85. The Nifty 50 index lost 11 points or 0.04% to 26,205.05.

The Sensex and Nifty clocked an all-time high of 85,978.25 and 26,277.35, respectively in mid-morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.29% and the S&P BSE Small-Cap index added 0.28%.

The market breadth was positive. On the BSE, 2,027 shares rose and 1,866 shares fell. A total of 126 shares were unchanged.

Buzzing Index:

The Realty index slipped 1.89% to 1,109.90. The index rose 0.76% in past two consecutive trading sessions.

Macrotech Developers (down 4.13%), Phoenix Mills (down 3.61%), Mahindra Lifespace Developers (down 3.42%), Godrej Properties (down 3.24%), Oberoi Realty (down 2.42%), DLF (down 1.62%), Sobha (down 0.14%) and Prestige Estates Projects (down 0.04%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.44% to 6.858 as compared with previous close 6.828.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.6850, compared with its close of 83.6600 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement declined 0.20% to Rs 76,100.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 100.69.

The United States 10-year bond yield slipped 0.24% to 3.786.

In the commodities market, Brent crude for November 2024 settlement gained 3 cents or 0.04% to $71.12 a barrel.

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