Market Update: Nifty Realty outshines led by Indiabulls Real Estate; M&M hits new 52-week high, Wipro falls over 3%
The Indian equity market was trading on a positive note on Thursday morning with the Nifty adding 14 points was trading at 10,584 while the Sensex was up 40 points or 0.12 percent.
The Nifty IT index was in the green led by Tech Mahindra and Tata Elxsi which added over 1 percent each. But the spoiler was Wipro which fell over 3 percent after the company declared its Q4 numbers.
Nifty realty index was outperforming the broader indices, gaining 1 percent led by Indiabulls Real Estate which jumped 6 percent. Godrej Properties and DLF were the other gainers.
Emami from the FMCG space was trading higher by 5 percent while Tata Global Beverage added 1 percent as the sector was up 0.2 percent
The Nifty metal index was also in the green led by Hindalco Industries which jumped over 2 percent followed by NALCO, Hindustan Copper, JSW Steel, Vedanta and Tata Steel.
The top Nifty gainers included Hindalco which was up 2 percent followed by Vedanta, Tech Mahindra, Eicher Motors and Hindustan Unilever, each added close to 1 percent.
The most active Nifty stocks included NIIT Tech which gained 4 percent while Indiabulls Real Estate zoomed over 6 percent. TCS and Dewan Housing Finance were the other active stocks. PC Jeweller, however tanked over 12 percent in the morning trade.
The top Nifty losers were Wipro which was down 4 percent followed by BPCL, Bharti Infratel, HPCL and ICICI Bank.
The top BSE gainers included Indiabulls Ventures which zoomed 7 percent while Indiabulls Real Estate added 7 percent. IDFC, Hathway and NIIT Tech were the other gainers.
18 stocks hit fresh 52-week high in the morning trade including Mahindra & Mahindra, M&M Financial, Mindtree, NIIT Tech, Shriram Transport and Tata Elxsi among others.
The market breadth was in favour of the advances with 798 stocks advancing while 739 declined and 489 remained unchanged. On the other hand, in the BSE, 906 stocks advanced and 705 declined and 65 remained unchanged.moneycontrol