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Shares trade with minor gains; realty stocks edge higher
(12:31, 30 Nov 2022)

The key equity barometers continued to trade with minor in early afternoon trade as the bourses witnessed bouts of volatility. The Nifty traded tad below the 18,650 mark. Realty stocks witnessed decent buying demand.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 49.47 points or 0.08% to 62,731.31. The Nifty 50 index gained 27.60 points or 0.15% to 18,645.65.

The Nifty 50 index hit an all-time high of 18,679.55 in early trade today.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.34% while the S&P BSE Small-Cap index added 0.38%.

The market breadth was positive. On the BSE, 1,946 shares rose and 1,378 shares fell. A total of 136 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was down 0.49% to 13.55. The Nifty 29 December 2022 futures were trading at 18,771.05, at a premium of 125.4 points as compared with the spot at 18,645.65.

The Nifty option chain for the 29 December 2022 expiry showed maximum Call OI of 35.8 lakh contracts at the 19,000 strike price. Maximum Put OI of 40.1 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty Realty index rose 1.39% to 449.85. The index had declined 0.34% to end at 443.70 yesterday.

Oberoi Realty (up 2.89%), Godrej Properties (up 2.83%), Prestige Estates Projects (up 2.32%), DLF (up 1.86%) and Sunteck Realty (up 1.26%) were the top gainers.

Among the other gainers were Brigade Enterprises (up 0.84%), Phoenix Mills (up 0.64%) and Indiabulls Real Estate (up 0.12%).

On the other hand, Macrotech Developers (down 1.03%) and Sobha (down 0.34%), turned lower.

Stocks in Spotlight:

Greenpanel Industries declined 2.29%. The company said that its board approved the winding up of its wholly owned subsidiary, Greenpanel Singapore Pte.

New Delhi Television (NDTV) hit an upper circuit of 5%. The company's founders Prannoy Roy and his wife Radhika Roy resigned as the directors of promoter group vehicle RRPR Holding.

Biocon shed 0.19%. The company said that its subsidiary Biocon Biologics has successfully completed its multi-billion-dollar acquisition of the global biosimilars business of its partner Viatris Inc.

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