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Mumbai: India's equity benchmark indices ended lower in a late sell-off on Monday, giving up all of early gains, as traders cut their bullish bets, taking cues from the drop in US futures at open."Monday's market decline was largely influenced by global cues, with Dow futures dropping more than 200 points. In line with this, domestic markets also experienced a downturn," said Dharmesh Shah, head of technical research at ICICI Direct. "Profit-taking was observed around the 20-day moving average (DMA) at the 22,600 level and a close above this level could take the Nifty towards the 23,000 mark."NSE's Nifty fell 92.2 points, or 0.4%, to close at 22,460. It made an intraday high of 22,676. BSE's Sensex declined 217 points or 0.3% to end at 74,115. Both the indices fell nearly 1% from the day's high. All sectoral indices on the NSE ended lower on Monday except for the Nifty FMCG index. Foreign portfolio investors remained net sellers of equities worth ₹485 crore on Monday but their selling was lower than what has been in recent weeks. Domestic institutions were buyers to the tune of ₹264 crore.Shah said that the 22,100 level is a strong support for the index and as long as the Nifty holds above this level, he anticipates a pullback in the index.Nifty Midcap 150 dropped 1.4% and Nifty Smallcap 250 fell 1.9% on Monday.

Mumbai: The Indian rupee fell sharply Monday, sticking to the recent script of wild swings in either direction, ending the trading day nearly half a percentage point lower on dollar demand from oil companies, dealers said. Maturities in the non-deliverable forwards (NDF) market also pressured the currency that has been buffeted by foreign fund sales of local equities since late September.At 87.33/$1, the rupee's decline was worth nearly 50 paisa, compared with 86.87 per dollar at the end of trading the previous day.The rupee had opened at 87.22 per dollar, and other Asian currencies also weakened even as the dollar index was 103.7, LSEG data showed. Asian currencies were pressured due to weak economic data from China, traders said."The rupee weakened because of an increase in dollar demand from oil companies, as Indian companies have started buying oil from the US," a trader at a private bank said.118865211India committed to procure more oil and natural gas from the US when Prime Minister Narendra Modi met US President Donald Trump in February. Subsequently, the US exported about 3,57,000 barrels per day of crude to India in February, compared with exports of about 2,21,000 barrels per day last year, Reuters said."After a stronger close on Friday, the rupee slipped to 87.20/$1 levels in the NDF market. After that slip, there was some short covering done because of which the rupee opened weaker," said Anil Bhansali, head of treasury, Finrex Treasury Advisors.

Incentives and discounts are returning slowly to the housing industry after a period of robust growth due to fewer launches, delayed approvals, and steep price appreciations across major cities over the last few years. Developers, which previously experienced strong demand following the pandemic, are now reintroducing incentives to attract buyers. Offers such as "1% payment now," fully furnished homes, modular kitchen and even free parking spaces have resurfaced, indicating a shift in market dynamics. However, cash discounts are still limited.In the newspapers, one can find offers such as Godrej Properties offering a 1% monthly payment plan, while M3M Developers has a 'move-in now, pay later' plan that allows buyers to pay 20% after two years. PARAS Buildtech has promised a 50% per annum return with its buyback scheme, and Shriram Properties offers 'zero extras' with savings of up to ₹25 lakh. To stimulate housing sales, property developers are enhancing incentives for homebuyers, particularly in the 3BHK and above apartment sizes segments, where sales have remained sluggish.118857897This trend is particularly noticeable during festive seasons, as developers seek to appeal to cost-sensitive buyers with more enticing deals."While the real estate sector remains strong overall, multiple factors-including rising consumer spending on other discretionary items, land acquisition challenges, regulatory delays, and fewer new launches along with stock market fall-are contributing to this slowdown," said Bhavesh Kothari, founder and CEO, Property First. According to industry experts, during the post-Covid boom, developers had little need to offer discounts or schemes as demand surged due to increased savings, low home loan rates, and changing buyer preferences.However, Q3FY25 results from listed realty firms indicate a dip in absorption levels, signalling that affordability and sentiment are playing a crucial role in the market's current phase."To counter this slowdown, developers have begun reintroducing offers that were last seen in the sluggish pre-pandemic market. This shift points to a phase where developers must actively boost demand rather than rely on organic sales momentum," said Vineet Surana, MD, APS Property Solution. Residential real estate has witnessed high demand particularly strong in the mid-to-premium and luxury segments. However, with inflationary pressures and interest rates remaining elevated, the affordability of high-ticket homes is being reassessed by potential buyers."There is a demand-supply balance happening in the mid-income segment. However, the luxury segment is seeing good demand with property priced above ₹10 crore in high demand. Homebuyers are however more cautious in their purchases and are taking informed decisions as ticket sizes are big," said Vijay Chugani, founder, ZenXChugs, a Bengaluru-based luxury property broker.Recent Q3FY25 results from major listed real estate firms indicate a slowdown in new bookings and absorption, even as revenue growth remains strong due to premium housing sales and higher realisations. Some developers reported a dip in pre-sales, reflecting cautious buyer sentiment ahead of the next financial year.Experts view this as a phase of stabilisation rather than a downturn, with supply constraints preventing sharp price corrections.