Nifty trades below 25,200 level; realty shares surge

The key equity indices continued to trade with moderate losses in mid-morning trade weighed down by weak global cues. Investor sentiment remained subdued as focus stayed on ongoing tariff developments and corporate earnings announcements. The Nifty hovered below 25,200 level

Realty shares witnessed buying demand for fourth consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 109.17 points or 0.13% to 82,522.04. The Nifty 50 index fell 28.45 points or 0.11% to 25,180.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index added 0.52%.

The market breadth was positive. On the BSE, 2,165 shares rose and 1,590 shares fell. A total of 214 shares were unchanged.

Buzzing Index:

The Nifty Realty index rose 1.43% to 1,003. The index rallied 4.16% for the fourth straight trading sessions.

Prestige Estates Projects (up 3.22%), Godrej Properties (up 1.95%), Sobha (up 1.84%), Phoenix Mills (up 1.61%), Oberoi Realty (up 1.11%), Brigade Enterprises (up 0.96%), Lodha Developers (up 0.53%), DLF (up 0.41%), Anant Raj (up 0.25%) surged.

Stocks in Spotlight:

Kalpataru Projects International (KPIL) rose 0.32%. The company, along with its international subsidiaries, has secured new orders / notification of awards that are approximately Rs 2,293 crore.

Godrej Properties added 1.95% after the company said that it has acquired around 50-acres of land in Raipur, Chhattisgarh, to develop a premium plotted residential project.

Godawari Power & Ispat surged 4.54% after the company received a crucial environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEFCC).

Global Markets:

Asian indices advanced on Thursday as investors digested Japan's second straight monthly drop in exports and conflicting signals from U.S. President Donald Trump on monetary policy and trade.

Japan's exports slipped 0.5% year-on-year in June, following a 1.7% fall in May, signaling continued weakness in external demand. Meanwhile, Trump denied plans to fire Federal Reserve Chair Jerome Powell, just hours after reportedly telling Republican lawmakers otherwise. The President added fuel to the trade uncertainty by reiterating a potential 25% tariff on Japanese imports, casting doubt on a comprehensive trade deal with Japan.

On the flip side, Singapore delivered a surprise. Its non-oil domestic exports surged 13% in June versus a year ago, sharply rebounding from a 3.9% drop in May. This marked the fastest growth since July 2024.

U.S. markets shrugged off the Powell drama. The Dow Jones rose 0.53%, the S&P 500 gained 0.32%, and the Nasdaq advanced 0.26% as Trump told reporters he was 'not planning anything' regarding Powell's removal, despite continuing to criticize the Fed chief for high interest rates and a pricey renovation of the Fed building.

Economic data brought a mixed bag. Producer prices in the U.S. remained flat in June on a monthly basis, with annual growth slowing to 2.3% from May's 2.7%. However, consumer prices showed signs of heating up, rising 2.7% year-on-year in June compared to 2.4% in May. On a monthly basis, inflation stood at 0.3%, matching expectations.

On Wall Street, Tesla shares climbed 3% after the EV giant announced plans to launch a six-seater Model Y this fall. Meanwhile, Global Payments surged 5% following reports that activist investor Elliott Management had taken a stake in the company.

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