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Markets trade higher; Nifty Realty extends gains

Nifty Realty is trading higher by over 2% after FM Nirmala Sitharaman announced revival measures to kickstart stalled housing projects in real estate and alleviate the hassles of troubled homebuyers.
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Indian benchmark indices started positive on Thursday, with the Nifty just above the key 12,000 level. The Sensex scaled new highs above 40,650.

Nifty Realty is trading higher by over 2% after FM Nirmala Sitharaman announced revival measures to kickstart stalled housing projects in real estate and alleviate the hassles of troubled homebuyers. All constituents of the index are trading higher led by IB Real Estate and Sobha.

On the other hand, Nifty Metal and Auto are trading lower. Tata Steel is down 2% after reporting its Q2 numbers on Wednesday. Tata Steel reported a consolidated net profit for the September quarter at Rs3,302.31cr, which was up 6% on the back of one-time deferred tax gain of Rs4,365.33cr. However, its revenue fell 15.4% YoY.

Bharti Infratel and IndusInd Bank were the top gainers on the Nifty50 today, while Tata Steel and Hero MotoCorp were the top losers.

Meanwhile, the rupee opened lower at 71.05/$. 

On the global front, Asian markets traded mixed amid potential delays in the US-China trade deal. Overnight, US stocks also closed on a flat note.

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