Equities continue their sharp upward move after a strong rally

The key equity barometers traded with limited losses in morning trades. Nifty moved in a range of 23489-23342. Nifty Chemicals, Nifty Realty and Nifty Media shares gained, while Nifty IT and Nifty PSU Bank shares retreated.

NIFTY had edged up 0.29% in last session and recorded sharp losses of 3.45% over last one-week.

At 12:15 IST, the barometer index, the S&P BSE Sensex, posted modest losses of 202.51 points or 0.27% to 74,656.48. The Nifty 50 index lost 49.15 points or 0.21% to 23,365.15.

The broader market outpaced the frontline indices. The BSE 150 MidCap Index inched up 0.25% and the BSE 250 SmallCap Index moved lower by 0.04%.

The market breadth was encouraging. On the BSE, 2569 shares advanced and 2281 shares declined. A total of 263 shares were unchanged.

Nifty Chemicals index moved higher by 0.70% to 29509. The index has posted modest losses of 2.54% in last one month and added 0.42% over last one year. Solar Industries, inching higher 4.52%, led the gainers followed by P I Industries, edging up 2.86% and Deepak Nitrite, up 2.01%, respectively. Out of 20 index constituents, 9 are reporting gains today.

Nifty Realty index posted modest gains of 0.59% to 859. The index has declined 6.34% in last one month and inched down 7.35% over last one year. Sobha, gaining 2.18%, led the gainers followed by Anant Raj, adding 2.13% and DLF, edging up 1.35%, respectively. Out of 10 index constituents, 8 are reporting gains today.

Nifty IT index retreated 1.29%. The index has lost 5.57% in last one month and tumbled 18.79% over last one year. LTM, edging lower 3.69%, led the losers followed by HCL Technologies, slipping 1.73% and Infosys, losing 1.56%, respectively. Out of 10 index constituents, 9 are reporting loss today.

Asian markets climbed on Tuesday. China’s Shanghai composite is marginally lower by 0.01%, Hong Kong’s Hang Seng is up 0.06%. Japan’s Nikkei 225 is substantially higher by 1.38%.

In Europe, German DAX drifted lower 0.12%, UK’s FTSE 100 inched higher 0.75% and French CAC posted modest gains of 0.92%.

In Commodities, MCX Crude oil rose 1.64% to trade at Rs 8,839 per barrel.