Strong width; real estate stocks rally
The indices hit their highest for the day in morning trading. The Nifty slipped below the 17,150 mark. All sector indices on the NSE traded in the green.
As of 10:30 a.m. IST, the barometer index, the S&P BSE Sensex, was up 153.05 points or 0.27% at 56,453.65. The Nifty 50 index added 47.45 points or 0.28% to 17,139.20.
In the broader market, the S&P BSE Mid-Cap Index rose 1.13% while the S&P BSE Small-Cap Index gained 1.55%.
The scale of the market was strong. On the BSE, 2396 shares rose and 696 shares fell. A total of 108 stocks remained unchanged.
Australia on Wednesday announced sanctions against eight of President Vladimir Putin’s top security advisers following Russia’s “unwarranted, unprovoked and unacceptable” invasion of Ukraine. Meanwhile, Japan has also issued sanctions against Russia, calling its move an unacceptable violation of Ukraine’s sovereignty.
Japan’s sanctions include banning the issuance of Russian bonds in Japan and freezing the assets of certain Russian people as well as restricting travel to Japan, Kishida said.
Zoom Index:
The Nifty Realty Index added 2.28% to 439.8, ending its four-day losing streak. The real estate index experienced a bargain hunt after falling 3.5% in four days.
Sobha (up 5%), Oberoi Realty (up 3.81%), Prestige Estate Project (up 3.68%), Sunteck Realty (up 3.18%), DLF (up up 3%) and Indiabulls Real Estate (up 2.73%) were the biggest gainers in the real estate space.
Actions in the spotlight:
Hero MotoCorp rose 0.13% while Bharat Petroleum Corporation gained 1.13%. The two-wheeler manufacturer has collaborated with PSU OMC to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country. Hero MotoCorp is the first automotive supplier to partner with the leading Public Sector Enterprise (PSU) to set up charging infrastructure across India. BPCL, accelerating its focus on new business segments for sustainable growth, announced in September 2021 that it is converting 7,000 conventional retail outlets into energy stations offering multiple refueling options, which will also include a charging facility for EVs, medium and long term.
SIS rose 1.58% to Rs 488.40 after the company said it had won a two-year contract worth around Rs 225 crore to provide security solutions at 18 Mahanadi Coalfields sites in India . The contract comes with an option to renew for a further period of one year. Under the contract, SIS will deploy security personnel in different categories to provide security services at 18 Mahanadi Coalfields sites in Sambalpur, Bhubaneshwar, IB Valley Coalfields and Talcher Coalfields.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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