Nifty below 24,500 level; realty shares slide

The key equity benchmarks traded with moderate cuts in the morning trade. The Nifty traded below the 24,500 level. Realty shares extended losses for the fourth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 401.64 points or 0.50% to 80,221.62. The Nifty 50 index fell 130.25 points or 0.53% to 24,464.85.

In the broader market, the S&P BSE Mid-Cap index fell 0.59% and the S&P BSE Small-Cap index shed 0.15%.

The market breadth was negative. On the BSE, 1,602 shares rose and 1,756 shares fell. A total of 136 shares were unchanged.

Earnings Today:

Grasim Industries (down 1.36%), State Bank of India (down 0.35%), Siemens (up 0.42%), Tata Motors (down 0.82%), Info Edge (India) (down 0.88%), Action Construction Equipment (down 0.96%), Afcons Infrastructure (up 0.68%), Akums Drugs and Pharmaceuticals (down 1.33%), Ceigall India (up 0.53%), Cholamandalam Financial Holdings (up 0.08%), Concord Biotech (down 0.59%), Cupid (up 0.18%), DOMS Industries (down 0.59%), Entero Healthcare Solutions (up 1.28%), Equitas Small Finance Bank (up 0.58%), Fine Organic Industries (down 0.88%), Fusion Finance (up 0.10%), Gandhar Oil Refinery (India) (down 1%), Garware Technical Fibres (down 1.08%), Garden Reach Shipbuilders & Engineers (down 1.68%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Realty index shed 0.87% to 885.20. The index dropped 2.94% in four consecutive trading sessions.

Sobha (down 2.81%), Prestige Estates Projects (down 1.86%), Oberoi Realty (down 1.24%), Raymond (down 0.94%), Anant Raj (down 0.93%), Phoenix Mills (down 0.92%), Brigade Enterprises (down 0.89%), Godrej Properties (down 0.82%) and Lodha Developers (down 0.69%) declined.

On the other hand, DLF (up 0.3%) edged higher.

Stocks in Spotlight:

Kalyan Jewellers India fell 6.74%. The company reported a 48.6% increase in consolidated net profit to Rs 264.08 crore on a 31.5% jump in revenue from operations to Rs 7,268.48 crore in Q1 FY26 over Q1 FY25.

Apollo Tyres shed 0.26%. The company's consolidated net profit tumbled 95.7% to Rs 12.88 crore during the quarter compared with Rs 302 crore posted same quarter last year. Revenue from operations rose 3.6% YoY to Rs 6560.76 crore in Q1 FY26.

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