Barometers trade with decent gains; realty shares in demand

Image
Capital Market
Last Updated : Aug 11 2022 | 12:50 PM IST

The domestic equity barometers continued to trade with decent gains in early afternoon trade. The Nifty traded above the 17,650 mark. Realty shares witnessed significant buying demand. Positive global cues boosted the sentiments.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 571.5 points or 0.97% to 59,388.79. The Nifty 50 index gained 143.85 points or 0.82% to 17,678.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.87% while the S&P BSE Small-Cap index gained 0.52%.

The market breadth was strong. On the BSE, 1,860 shares rose and 1,386 shares fell. A total of 155 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.41% to 18.72. The Nifty 25 August 2022 futures were trading at 17,536.05, at a premium of 19.6 points as compared with the spot at 17,516.45.

The Nifty option chain for the 25 August 2022 expiry showed maximum Call OI of 22.7 lakh contracts at the 18,000 strike price. Maximum Put OI of 24 lakh contracts were seen at 16,500 strike price.

Buzzing Index:

The Nifty Realty index rose 1.05% to 439.35. The index had declined 0.87% to end at 434.80 yesterday.

Prestige Estates Projects (up 3.55%), Macrotech Developers (up 2.06%), Oberoi Realty (up 1.86%), Indiabulls Real Estate (up 1.59%) and Godrej Properties (up 1.31%) were the top gainers.

Among the other gainers were DLF (up 1.28%), Sobha (up 0.69%) and Sunteck Realty (up 0.39%).

Meanwhile, Phoenix Mills (down 1.16%) and Brigade Enterprises (down 0.3%) turned lower.

Stocks in Spotlight:

Abbott India fell 1.54%. The company's net profit rose 5% to Rs 205.64 crore in Q1 FY23 as against Rs 195.76 crore posted in Q1 FY22. Revenue from operations was at Rs 1,304.37 crore for the quarter ended 30 June 2022 as against Rs 1,217.83 crore during the same period in the previous year, registering a growth of 7.1%.

Uflex surged 7.09% to Rs 670.15 after the company's net profit rose 41.84% to Rs 374.49 crore on 46.70% increase in net sales to Rs 3994.46 crore in Q1 June 2022 over Q1 June 2021.

Oil India rose 0.19%. The state-run oil major reported a standalone net profit of Rs 1,555.49 crore in Q1 FY23, steeply higher than Rs 507.94 crore recorded in Q1 FY22. Revenue from operations climbed 98.7% year on year to Rs 5,967.55 crore in the quarter ended 30 June 2022.

The company realized average crude price of $112.73 / bbl in Q1 FY23 as compared to $67.15 / bbl reported inQ1 FY22. Average Natural Gas price for Q1 FY23 also increased to $6.10 / metric million British thermal unit (MMBTU) from $1.79 / MMBTU during Q1 FY22.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 11 2022 | 12:29 PM IST

Next Story