Indices trade firm, BSE Realty index up 1.5%
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The markets continue to trade firm on sustained buying by investors amid positive global and domestic cues. At 10.10 Am, the Sensex is trading at 25,308 levels up by 80 points and Nifty is trading at 7,548 levels up by 21 points.
The market breadth is positive on the BSE with 1,242 shares advancing and 559 shares declining.
Meanwhile, Overseas investors sold Indian shares worth 34 million rupees on Tuesday, provisional exchange data shows
Barring BSE Power and Consumer Durables indices, all other indices are trading in the positive territory. BSE Realty Index, a gauge for real estate companies, is the largest gainer among sectoral indices, is up 1.5%.
Shares of real estate and infrastructure companies are trading higher by up to 6% after the Reserve Bank of India (RBI) said banks would not have to maintain cash reserve ratio (CRR) or statutory liquidity ratio (SLR) and will not have to meet priority-sector lending targets for funds raised through bonds for extending credit to these sectors.
Among the individual stocks Jaypee Infratech has rallied 7% to Rs 30.85, while IVRCL gained 5% to Rs 24.60 and Puravankara Projects by 4% to Rs 120 on BSE.
DLF, Prestige Estates, Mahindra Lifespace Developers, Oberoi Realty, Godrej Properties, Anant Raj Industries and Sobha Developers are up 2% each.
Sun Pharmaceutical Industries is up 1% after the company announced acquisition of Pharmalucence Inc., by one of its subsidiaries.
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