BENCHMARKS TRADE IN POSITIVE TERRAIN; BROADER MKT OUTPERFORMS

The domestic equity indices traded with minor gains in early afternoon trade. The Nifty traded above 24,950 mark. Auto shares advanced after declining in the past trading session. Trading could be volatile due to weekly F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 157.96 points or 0.19% to 81,679.97. The Nifty 50 index added 78.20 points or 0.31% to 24,987.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.91% and the S&P BSE Small-Cap index gained 0.51%.

The market breadth was positive. On the BSE, 2,171 shares rose and 1,650 shares fell. A total of 135 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 2.38% to 13.30. The Nifty 26 September 2024 futures were trading at 25,048.10, at a premium of 60.4 points as compared with the spot at 24,987.70.

The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 65.8 lakh contracts at the 25,000 strike price. Maximum Put OI of 109.6 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty Auto index rose 0.89% to 25,466.15. The index fell 1.24% in the past trading session.

Bajaj Auto (up 2.49%), Bosch (up 2.16%), Hero MotoCorp (up 1.95%), Samvardhana Motherson International (up 1.85%), Bharat Forge (up 1.85%), TVS Motor Company (up 1.37%), Mahindra & Mahindra (up 1.29%), Balkrishna Industries (up 1.06%), MRF (up 0.63%) and Exide Industries (up 0.59%) advanced.

Stocks in Spotlight :

NBCC (India) advanced 2.33% after the company announced that it has signed a memorandum of understanding (MoU) worth Rs 1,600 crore with Mahanagar Telephone Nigam (MTNL) to develop a 13.88-acre land parcel in New Delhi.

GE T&D India added 1.15% after the company received orders aggregating to 155 million Euros from Grid solutions, Middle East FZE, Dubai and SAS France.

Kalpataru Projects International rose 0.63%. The company along with its international subsidiaries has secured new orders worth Rs 2,774 crore.

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