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Sensex, Nifty hold gains; Real estate shares rally

Share Source By

Dion Global

07 Jan 2019

Indian benchmarks continued to extend gains during the noon trading session. The shares of real estate companies have rallied by up to 20 per cent on the BSE on hopes of cut in the goods and services tax (GST) rate for under-construction and finished houses to 5 per cent. Ansal Properties & Infrastructure and Ansal Housing have locked in upper circuit of 20 per cent each. Parsvnath Developers, Ganesh Housing Corporation, Housing Development & Infrastructure (HDIL) and D B Realty were up between 7 per cent and 12 per cent on the BSE. Indiabulls Real Estate, Godrej Properties, Peninsula Land, Ashiana Housing, DLF, Anant Raj, Kolte-Patil Developers and Sobha were up in the range 3 per cent to 6 per cent.

At 13 :20 hours, the BSE SENSEX was trading at 35985.19 up by 290.09 points or by 0.81 per cent and then NSE Nifty was at 10797.9 up by 70.55 points or by 0.66 per cent. The BSE Sensex touched intraday high of 36076.95 and intraday low of 35895.78 The NSE Nifty touched intraday high of 10835.95 and intraday low of 10782.05.

The top gainers of the BSE Sensex were Tata Motors Ltd. (Rs. 177.25,+3.81%), Tata Motors Ltd. (Rs. 94.65,+3.44%), Axis Bank Ltd. (Rs. 639.00,+3.09%), Maruti Suzuki India Ltd. (Rs. 7400.00,+2.25%), NTPC Ltd. (Rs. 148.30,+1.82%). The top losers of the BSE Sensex were Bajaj Auto Ltd. (Rs. 2705.05,-1.08%), Hero MotoCorp Ltd. (Rs. 2978.85,-0.46%), Sun Pharmaceutical Industries Ltd. (Rs. 431.50,-0.30%), Coal India Ltd. (Rs. 235.00,-0.30%), Bajaj Finance Ltd. (Rs. 2578.45,-0.03%).

Sector wise, BSE CDS index was at 20897.97 up by 329.07 points or by 1.6%. Crompton Greaves Consumer Electricals Ltd. (Rs. 232.20,+2.72%), Titan Company Ltd. (Rs. 950.95,+2.41%), Voltas Ltd. (Rs. 544.20,+1.42%), Whirlpool of India Ltd. (Rs. 1413.00,+1.23%), PC Jeweller Ltd. (Rs. 81.45,+0.43%). On the other hand, BSE FMCG index was at 11759.76 down by 49.26 points or by 0.42%. Lakshmi Energy & Foods Ltd. (Rs. 6.32,-4.96%), G M Breweries Ltd. (Rs. 623.00,-2.55%), IFB Agro Industries Ltd. (Rs. 590.00,-2.03%), Balrampur Chini Mills Ltd. (Rs. 108.30,-1.10%), Uttam Sugar Mills Ltd. (Rs. 93.80,-0.85%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2698 , shares advanced were 1497 while 1013 shares declined and 188 were unchanged.