Equity indices edge higher, realty stocks gain

Equity indices edge higher, realty stocks gain
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Mumbai, Maharashtra: Equity benchmark indices moved up marginally during early hours on Tuesday but remained under pressure amid growing concerns over the spread over Covid-19 infections in Maharashtra.

At 10:15 am, the BSE S&P Sensex was up by 226 points or 0.45 percent at 49,970 while the Nifty 50 edged ticked up by 65 points or 0.44 percent to 14,740. Except for Nifty pharma, all sectoral indices at the National Stock Exchange were in the green zone with Nifty realty gaining by 3 percent, metal by 1.3 percent, and PSU bank by 1.2 percent.

Among stocks, DLF was up by 4 percent to Rs 305.25 per share while Godrej Properties advanced by 2.6 percent to Rs 1,485. Energy major ONGC jumped by 6.4 percent to Rs 113.15 per share.

However, Asian Paints, Kotak Mahindra Bank, Bajaj Auto, Tech Mahindra, and Maruti Suzuki traded with a negative bias. Meanwhile, Asian stocks rebounded from two-week lows as rising commodity prices boosted market expectations of an improved growth outlook. MSCI's broadest index of Asia-Pacific shares outside Japan ticked up by 0.2 percent. Hong Kong advanced by 1.1 percent and the tech-laden South Korea's Kospi was a prominent loser, down 0.3 percent.

Japanese markets were closed for a public holiday.