The equity barometers sharply pared losses in afternoon trade. The Nifty hovered between 14,600 and 14,700 levels. Investors booked profits during intraday trade. Media, auto and metal stocks were in demand.
At 12:20 IST, the barometer index, the S&P BSE Sensex, jumped 395.49 points or 0.81% at 49,495.48. The Nifty 50 index gained 115.55 points or 0.80% at 14,644.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.78% while the S&P BSE Small-Cap index added 1.07%.
The market breadth was strong. On the BSE, 1,800 shares rose and 1,059 shares fell. A total of 187 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, fell 5.66% to 26.5475. The Nifty 25 March 2021 futures were trading at 14,737.05, at a premium of 92.35 points as compared with the spot at 14,644.70.
Read more about Godrej Properties emerges as highest bidder for two plots in Navi Mumbai on Business Standard. Spread over nearly 1.5 acres, this project will offer approximately 400,000 square feet of development potential
The Mumbai-based real estate developer will acquire two plots in Sanpada, Navi Mumbai from the City and Industrial Development Corporation (CIDCO).Godrej Properties (GPL) announced the addition of a new residential project in Sanpada, Navi Mumbai. GPL emerged as the highest bidder in the CIDCO e-auctioning process with the total bidding value of Rs 166 crore for the two adjacent plots.
The project is situated approximately 1 km away from Palm Beach, Sanpada in Navi Mumbai. It offers a well-developed social and civic infrastructure with schools, hospitals, residential and commercial spaces in close proximity.
Spread over approximately 1.5 acres, this project will offer about 4 lakh square feet of development potential comprising primarily of premium residential apartments of varied configurations with a small amount of high street retail at the base of the development.