Stock Market LIVE Updates: Nifty Realty Surges 2%; AB Real Estate Jumps 5%
The Indian stock market is maintaining its upward momentum, with the Nifty Realty index jumping 2% and AB Real Estate leading the pack with a 5% gain. This positive trend is part of a broader market recovery, as investors remain optimistic about the economic outlook and company performances.
Markets extended gains for a third straight session, ending near the day's high amid broad-based buying. The Sensex rose 544 points to close at 76,809, while the Nifty 50 gained 135 points to settle at 23,989, comfortably above the 23,950 mark. Reliance Industries, HDFC Bank, Hindustan Unilever, and HCLTech were among the biggest contributors to the Nifty's advance. Nifty IT emerged as the top-performing sectoral index for a second consecutive session, helped by a nearly 4% surge in HCLTech after the company acquired a 10.5% stake in Sarvam AI for ₹1,427 crore.
The Nifty Bank index added 98 points to close at 57,297, while the Nifty Midcap 100 index gained 252 points to end at 61,802. Market breadth remained positive, with the NSE advance-decline ratio at 3:2. This indicates that more stocks are advancing than declining, a positive sign for market sentiment.
Among stock-specific movers, Petronet LNG and GAIL rallied after Qatar signalled a rapid restart of LNG production following the reopening of the Strait of Hormuz. IOC, HPCL, and BPCL also recovered from intraday lows after Brent crude slipped below $82 per barrel. Bandhan Bank gained over 2% after approving the sale of ₹304 crore worth of NPAs, while Bondada Engineering rose more than 3% after securing a ₹1,338 crore order from NTPC Renewable Energy.
On the downside, General Insurance Corporation fell over 7% after the government announced plans to sell up to a 5% stake at a discount. Nalco and Hindalco declined as aluminium prices weakened. Despite these setbacks, the overall market sentiment remains positive, driven by strong corporate earnings and economic indicators.
The real estate sector, in particular, is showing strong momentum. The Nifty Realty index's 2% gain is a testament to the sector's resilience and the growing interest from investors. AB Real Estate's 5% jump is a significant highlight, reflecting the company's strong performance and market confidence in its future prospects.
In conclusion, the Indian stock market is demonstrating a robust performance, with key sectors and stocks contributing to the overall positive trend. Investors are optimistic about the future, and the market is expected to continue its upward trajectory in the coming days.
