Market Update: Nifty and Sensex Near Lows, While Realty Stocks Climb

Indian stock markets experienced a mixture of highs and lows midday, with major indices showing a slight rebound after a period of decline. Despite this recovery, the National Stock Exchange's Nifty 50 and the Bombay Stock Exchange's Sensex were both trading near the day's lowest points. Contrarily, real estate stocks demonstrated strength with notable gains.

Key Contributors to Nifty's Performance

Among the leading contributors to Nifty's performance were the stocks of Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., ITC Ltd., Bajaj Finance Ltd., and HDFC Bank Ltd. Their positive movement aided in keeping the index within a slim margin of gains. On the flip side, heavyweights such as Bharti Airtel Ltd., Kotak Mahindra Bank Ltd., State Bank of India, Axis Bank Ltd., and Tata Consultancy Services Ltd. added downward pressure on the index.

Market Volatility Expected

Pending the announcement of Lok Sabha election results, market volatility is expected to surge. Analysts are forecasting significant movements on the Nifty, predicting a 700-point fluctuation in the forthcoming sessions.

Sectoral Indices Performance

Sector-wise, the Nifty Media suffered the most losses, while the Nifty Realty index emerged as the top performer. Disparity was seen in the broader markets as BSE MidCap dipped, contrasting with a minor rise in the SmallCap index.

Market Breadth and Sectoral Advances

In terms of market breadth, more stocks witnessed declines compared to those advancing on the BSE. Out of the 20 sectoral indices on the BSE, seven retreated, while thirteen moved forward. The BSE Realty index notably saw the highest surge.

Nifty, Sensex, Realty