The stock market witnessed a rollercoaster ride in the previous trading session, with the Sensex and Nifty closing nearly 1 per cent higher amidst global cues. The S&P BSE Sensex ended at 73,634, gaining 677 points after experiencing fluctuations of 1,220 points throughout the day. Similarly, the NSE Nifty50 closed at 22,404, up by 203 points, with intra-day trading seeing the benchmark index fluctuate within a range of 22,055 to 22,432.
In other news, a report released on Thursday revealed a significant 10 per cent annual surge in average housing prices during Q1 2024, driven by optimism in the residential real estate sector. Top eight cities, including Bengaluru, Delhi NCR, Ahmedabad, and Pune, witnessed double-digit growth in average housing prices. While the market remained favourable for homebuyers and developers, unsold inventory at the national level saw a slight 3 per cent year-on-year increase, with Pune leading with a 10 per cent decrease.
Moreover, India has urged an international committee dedicated to spices to set regulations on the permissible limit of ethylene oxide used in spice processing. This comes after a sales ban on two major Indian brands, MDH and Everest. The Codex Committee on Spices and Culinary Herbs (CCSCH) in Kerala, under the Codex Alimentarius Committee in Rome, is responsible for developing international standards for food safety and fair trade practices.
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