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Broader market trades firm; realty shares rise for 7th day

·3-min read

The equity barometers were trading firm in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P BSE Sensex, rose 264.67 points or 0.61% at 43,902.65. The Nifty 50 index advanced 76.50 points or 0.60% at 12,856.75.

The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 1.04%. The S&P BSE Small-Cap index gained 0.86%.

Buyers outnumbered sellers. On the BSE, 1504 shares rose and 1222 shares fell. A total of 176 shares were unchanged.

Investors' sentiment was boosted as US biotech firm Moderna announced that its experimental vaccine against COVID-19 was almost 95% effective, marking a second major breakthrough in the quest to end the pandemic. Concurrently, a foreign brokerage house reportedly said that a 'global synchronous recovery' looms next year with the world likely to grow at 6.4% in 2021.

Meanwhile, Foreign Institutional Investors (FII) have remained net buyers for the month of November 2020. FIIs bought a total of Rs 29,454.22 crore equity shares so far in November 2020.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 5,50,24,738 with 13,27,253 deaths. India reported 4,53,401 active cases of COVID-19 infection and 1,30,519 deaths while 82,90,370 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.


The annual rate of inflation based on Wholesale Price Index (WPI), stood at 1.48% (provisional) in October 2020 (over October 2019). The figure stood at 1.32% in September.

India's trade deficit narrowed to $8.71 billion in October 2020 from $11.75 billion a year ago as both exports and imports fell during the month. After recording positive growth in September, India's exports fell 5.12% from a year ago to $24.89 billion. Imports also fell 11.53% year-on-year to $33.6 billion in October 2020.

Buzzing Segment:

The Nifty Realty index rose 3.66% to 250.65, extending gains for seventh day in a row. The index has added 11.6% in seven sessions.

Brigade Enterprises (up 6.86%), Godrej Properties (up 5.11%), Sobha Developers (up 3.98%), DLF (up 3.22%), The Phoenix Mills (up 3.13%), Oberoi Realty (up 1.76%) advanced.

Indiabulls RE (down 4.66%), Prestige Estates (down 0.53%), Sunteck Realty (down 0.39%), Omaxe (down 0.22%) declined.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee edged higher to 74.505 compared with its previous closing 74.625.

The yield on 10-year benchmark federal paper fell to 5.869% compared with its closing of 5.878% in the previous trading session.

MCX Gold futures for 4 December 2020 settlement rose 0.15% to Rs 50,906.

In the commodities market, Brent crude for January 2021 settlement fell 9 cents to $43.73 a barrel. The contract rose 2.43% or $1.04 to settle at $43.82 in the previous trading sessions.