The headline equity indices traded with substantial losses in the mid-afternoon trade. The Nifty traded below the 22,900 level after hitting the day's high of 23,133.70 in early trade. Realty shares tumbled after advancing in the past trading session.
At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 408.14 points or 0.54% to 75,730.83. The Nifty 50 index fell 174.20 points or 0.76% to 22,857.20.
In the broader market, the S&P BSE Mid-Cap index fell 3.09%, and the S&P BSE Small-Cap index rose dropped 3.74%.
The market breadth was weak. On the BSE, 519 shares rose and 3,431 shares fell. A total of 105 shares were unchanged.
Economy:
The India Wholesale Price Index (WPI) for January 2025 stood at 2.31% (provisional) year-on-year compared to January 2024. The positive inflation rate in January 2025 was primarily driven by an increase in prices of manufactured food products, food articles, other manufacturing, non-food articles, and textiles. However, the WPI for January 2025 recorded a decline of 0.45% compared to December 2024.
Buzzing Index:
The Nifty Realty index dropped 3% to 820.75. The index advanced 0.81% in the past tradaing trading session.
Oberoi Realty (down 4.46%), Godrej Properties (down 4.25%), Raymond (down 3.52%), Macrotech Developers (down 2.6%), Phoenix Mills (down 2.51%), Mahindra Lifespace Developers (down 2.44%), Prestige Estates Projects (down 2.36%), DLF (down 2.27%), Brigade Enterprises (down 1.52%) and Sobha (down 1.28%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was down 0.04% to 6.818 as compared with previous close 6.821.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.8450, compared with its close of 86.9300 during the previous trading session.
MCX Gold futures for the 5 April 2025 settlement rose 0.53% to Rs 86,270.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% to 106.89.
The United States 10-year bond yield gained 0.40% to 4.543.
In the commodities market, Brent crude for April 2025 settlement added 34 cents or 0.45% to $75.36 a barrel.