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The domestic equity benchmarks extended gains in morning trade. The Nifty traded above the 19,600 level. Realty shares witnessed buying demand after declining in the past trading session.
The barometer index, the S&P BSE Sensex, was up 339.80 points or 0.52% to 65,852.19. The Nifty 50 index added 99.35 points or 0.51% to 19,611.70.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.76% while the S&P BSE Small-Cap index gained 1.08%.
Buyers outnumbered sellers. On the BSE, 2,505 shares rose and 785 shares fell. A total of 151 shares were unchanged.
Buzzing Index:
The Nifty Realty index advanced 2.95% to 600.05. The index declined 0.79% in the past trading session.
Prestige Estates Projects (up 5.73%), DLF (up 2.95%), Phoenix Mills (up 2.89%), Godrej Properties (up 2.83%), Oberoi Realty (up 2.41%), Mahindra Lifespace Developers (up 1.55%), Sobha (up 1.49%), Macrotech Developers (up 1.39%), Brigade Enterprises (up 1.23%) and Swan Energy (up 1.17%) rallied.
Stocks in Spotlight:
Genus Power Infrastructure hit an upper circuit of 5% after the company's wholly owned subsidiary received two letter of awards (LoAs) worth Rs 3,115.01 crore for appointment of Advanced Metering Infrastructure Service Providers.
Bhageria Industries jumped 7.76% after the company announced its one turnkey international Solar Engineering, Procurement, and Construction (Solar EPC) projects with comprehensive Operation & Maintenance and Water Proofing in APM Terminal, Kingdom of Bahrain. Aggregating to a capacity of 11.40 MWp, this project has a total order value of about Rs 104.49 crore (including comprehensive O&M and Water Proofing), without taking taxes into account.
Mazagon Dock Shipbuilders (MDL) rallied 5.34% after the company said that it has signed a letter of intent (LoI) with an European client for construction of six firm and four optional units of 7500 DWT multi- purpose hybrid power vessels. The prices for which would be firmed up at the time of signing of contract.
IDFC First Bank added 0.62%. IDFC First Bank has entered into agreement(s) with National Securities Depository Limited for the sale of bank's office premises located at Naman Chambers, Bandra-Kurla Complex, Mumbai, as a part of consolidation of bank's operations near its corporate office. The consideration for the office premises amounts to around Rs 198 crore.
Glenmark Life Sciences gained 1.59%. The board of directors of the company has declared an interim equity dividend for the financial year 2023-24 of Rs. 22.50/- per equity share.
Dilip Buildcon rose 1.58%. The company has received letter of acceptance (LOA) from Water Resources Zone, Udaipur, Rajasthan, for the construction of Dewas III and IV Dams in Gogunda, Udaipur, The project cost is Rs 396.93 crore.
Numbers to Watch:
The yield on India's 10-year benchmark federal paper declined 0.41% to 7.356 from its previous close of 7.386.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.2300, compared with its close of 83.2825 during the previous trading session.
MCX Gold futures for 5 December 2023 settlement gained 0.25% to Rs 57,714.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 106.06.
The United States 10-year bond yield fell 0.11% to 4.635.
In the commodities market, Brent crude for December 2023 settlement jumped 31cents or 0.35% to $87.84 a barrel.
Global Markets:
Asian stocks climbed across the board, as markets rally despite pressures from the attack on Israel by Palestinian militant group Hamas.
Wall Street's major indexes closed higher on Monday while energy stocks rallied as investors digested the latest news about the conflict between Israel and the Palestinian Islamist group Hamas.
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