The key equity barometers were trading with minor cuts in mid morning trade. The Nifty hovered around the 18,250 mark. Realty stocks extended gains for the third consecutive session.
At 11:26 IST, the barometer index, the S&P BSE Sensex, was down 190.12 points or 0.31% to 61,118.79. The Nifty 50 index lost 62.40 points or 0.34% to 18,245.70.
In the broader market, the S&P BSE Mid-Cap index shed 0.47% while the S&P BSE Small-Cap index declined 0.20%.
The market breadth was negative. On the BSE, 1454 shares rose and 1834 shares fell. A total of 99 shares were unchanged.
Buzzing Index:
The Nifty Realty index rose 0.33% to 517.80, extending gains for third day in a row. The index has added 2.78% in three sessions.
Brigade Enterprises (up 4.05%), Macrotech Developers (up 1.40%) and Sobha Developers (up 1.05%)advanced while The Phoenix Mills (down 2.56%) and Godrej Properties (down 0.76%) declined.
Prestige Estates gained 5.40% to Rs 540.10. The realty company's sales booking for Q3 increased by 110.6% to Rs 4267.6 crore, compared to Rs 2,026 crore recorded in Q3 last FY21.
Prestige Estates also posted its highest-ever quarterly collections in Q3 FY22, at Rs 2431.6 crore, up 70% YoY, a result of exemplary response from the company's newly launched projects, like Prestige Avalon, Aspen & Eden Park, Prestige Beverly Hills, Hyderabad and its existing inventories across geographies, noted the company's Chairman.
Stocks in Spotlight:
Tata Steel Long Products slipped 3.66% to Rs 793 after the company's net profit declined 65.8% to Rs 103.8 crore in Q3 FY22 from Rs 304.3 crore posted in Q3 FY21.
Tatva Chintan Pharma Chem slumped 7.89% to Rs 2641.65. The company reported a 9.2% increase in consolidated net profit to Rs 22.8 crore on a 31% jump in net sales to Rs 104.6 crore in Q3 FY22 over Q3 FY21. Sequentially, however, the company's net profit and net sales have declined by 29.7% and 15.4%, respectively.
On the BSE, 18,150 shares of Tatva Chintan Pharma were traded in the counter so far compared with average daily volumes of 8,834 shares in the past two weeks.
Global markets:
Most Asian stocks edged lower on Tuesday. Investors continuing to monitor the global economic recovery from COVID-19.
Chinese President Xi Jinping cautioned against a rapid rise in interest rates on Monday that could derail the global recovery from the coronavirus pandemic.
Meanwhile, the Organization of the Petroleum Exporting Countries, or OPEC, is due to release its monthly oil market report on Tuesday where traders are likely to watch for signs that global oil demand has been affected by the surge in Covid cases around the world.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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