Nifty Surpasses 24,150 Amid Realty Sector Rally and Election Results
Nifty trades above 24,150 mark; realty shares advance
Business Standard
Image: Business Standard
In morning trading, the Nifty 50 index rose above 24,150, driven by gains in the realty sector and state election results from Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal. Brent crude prices remain a concern for inflation and the rupee, while corporate earnings show mixed results.
- 01Nifty 50 index climbed 154.10 points to reach 24,152.20.
- 02S&P BSE Sensex increased by 505.87 points to 77,419.37.
- 03The Nifty Realty index surged 1.88% after a previous decline.
- 04BJP leads in early election trends in West Bengal and Assam.
- 05Avenue Supermarts reported a 19.18% increase in net profit for Q4 FY26.
Advertisement
In-Article Ad
The Nifty 50 index traded above 24,150, gaining 154.10 points or 0.64% to reach 24,152.20 as investors reacted to state election results and crude oil price movements. The S&P BSE Sensex also rose, climbing 505.87 points or 0.66% to 77,419.37. Realty shares saw a significant rebound, with the Nifty Realty index increasing by 1.88% after a prior decline. Early election trends indicated the BJP leading in approximately 24 seats in West Bengal and 56 seats in Assam. In corporate news, Avenue Supermarts reported a 19.18% increase in consolidated net profit for Q4 FY26, while Bajaj Auto's sales surged by 40%. Despite these gains, the market breadth was weak, with 2,620 shares rising compared to 1,275 shares that fell.
Advertisement
In-Article Ad
The rise in the Nifty and realty shares may boost investor confidence and impact homebuyers positively, as a strong realty sector often leads to increased housing activity.
Advertisement
In-Article Ad
Reader Poll
Do you think the current market rally will continue?
Connecting to poll...
More about BJP
Read the original article
Visit the source for the complete story.