Barometers trade with deep cuts; realty shares drop

The domestic equity benchmarks traded with significant losses in morning trade as escalating tensions between India and Pakistan'intensified by the ongoing Operation Sindoor'kept investors on edge. Market sentiment is likely to remain volatile in the near term, driven by uncertainty surrounding geopolitical developments and upcoming U.S. trade policy updates. The Nifty slipped below the 24,050 mark.

Realty shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex dropped 707.65 points or 0.88% to 79,627.16. The Nifty 50 index tumbled 231.15 points or 0.95% to 24,042.65.

The broader market underperformed the frontline indices. the S&P BSE Mid-Cap index fell 1.04% and the S&P BSE Small-Cap index dropped 1.55%.

Sellers outnumbered buyers. On the BSE, 597 shares rose and 2,827 shares fell. A total of 161 shares were unchanged.

India-Pakistan Tensions Escalate:

Amid rising tensions with Pakistan, India has ramped up security in New Delhi by deploying additional forces and intensifying police surveillance. The move follows India's successful neutralization of multiple Pakistani drone and missile attacks targeting military sites in Jammu, Pathankot, and Udhampur, along with similar threats in 15 other northern and western locations. No casualties were reported.

A major infiltration attempt along the International Border in Samba was also foiled. Meanwhile, Pakistan conducted heavy shelling along the Line of Control in Poonch, Rajouri, Uri, and Chowkibal Kupwara, resulting in property damage and the reported death of a woman in Uri. The developments come in the aftermath of the April 22 Pahalgam terror attack, which claimed 26 lives.

Earnings Today:

Dr Reddy's Laboratories (down 0.65%), Eveready Industries (down 2.11%), Manapurram Finance (down 0.68%), Alkyl Amines Chemicals (down 2.57%), Bank of India (up 0.23%), Cera Sanitaryware (down 0.06%), ABB India (up 0.50%), Relaxo Footwear (down 1.34%), Reliance Power (down 2.06%), Shyam Metalics and Energy (down 1.90%), Swiggy (down 3.05%), Thermax (down 1.07%), Navine Flourine International (up 1.56%), Motherson Sumi Wiring India (down 0.43%), Cholamandalam Financial Holdings (down 2.92%), Birla Corporation (down 1.12%), India Shelter Finance Corporation (down 0.82%), Intellect Design Arena (up 0.15%), C.E. Info Systems (down 0.85%) and Jupiter Life Line Hospitals (down 1.43%) will declare their result later today.

Buzzing Index:

The Nifty Realty index dropped 3.04% to 818.15. The index fell 5.43% in two consecutive trading sessions.

DLF (down 5.14%), Anant Raj (down 4.65%), Raymond (down 4.55%), Macrotech Developers (down 4.48%), Godrej Properties (down 3.67%), Prestige Estates Projects (down 3.66%), Sobha (down 3.65%), Phoenix Mills (down 2.96%), Oberoi Realty (down 2.5%) and Brigade Enterprises (down 2.15%) declined.

Stocks in Spotlight:

Britannia Industries rose 0.84%. The company's consolidated net profit increased 4.02% to Rs 559.95 crore on 8.29% jump in revenue from operations to Rs 4,495.21 crore in Q4 FY25 over Q4 FY24.

Zee Entertainment Enterprises shed 0.72%. The company had reported a net profit of Rs 188.4 crore in Q4 FY25, which is significantly higher as compared with the PAT of Rs 13.4 crore recorded in Q4 FY24. Operating revenue rose by 1% year-over-year (YoY) to Rs 2184.1 crore during the period under review.

Kalyan Jewellers India advanced 1.99%. The company's consolidated net profit climbed 36.3% to Rs 187.61 crore on 36.6% increase in net sales to Rs 6,181.53 crore in Q4 FY25 over Q4 FY24.

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