Equity barometers march towards the day`s high; IT shares in demand
Published on Apr 12, 2023 12:31
The domestic equity benchmarks marched towards the day`s high in early afternoon trade. The Nifty managed to hold above the 17,750 level after hitting day`s low of 17,717.25 in early trade. IT shares witnessed across the board buying.
At 12:29 IST, the barometer index, the S&P BSE Sensex, was up 138.94 points or 0.23% to 60,296.66. The Nifty 50 index added 53.65 points or 0.3% to 17,775.95.
In the broader market, the S&P BSE Mid-Cap index gained 0.34% while the S&P BSE Small-Cap index rose 0.51%.
The market breadth was strong. On the BSE, 2,052 shares rose and 1,283 shares fell. A total of 122 shares were unchanged.
Investors awaited the release of India CPI and US CPI data for March along with US FOMC meeting minutes, which are slated for release later today.
India recorded 7,830 new coronavirus infections, while the active cases increased to 40,215, according to the Union Health Ministry data updated on Tuesday.
Active cases in the country stood at 0.09% while recovery rate was currently at 98.72%. 4,692 recoveries were registered in the last 24 hours taking the total recoveries to 4,42,04,771.
220.66 crore total vaccine doses (95.21 crore second dose and 22.87 crore precaution dose) have been administered so far under Nationwide Vaccination Drive.
The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 1.37% to 12.14. The Nifty 27 April 2023 futures were trading at 17,828.95, at a premium of 53 points as compared with the spot at 17,775.95.
The Nifty option chain for the 27 April 2023 expiry showed maximum Call OI of 38.3 lakh contracts at the 18,000 strike price. Maximum Put OI of 59.8 lakh contracts were seen at 17,000 strike price.
The Nifty IT index rose 0.71% to 28,880. The index had declined 1.26% to end at 28,675.75 yesterday.
Coforge (up 1.69%), Infosys (up 0.85%), Persistent Systems (up 0.8%) and Wipro (up 0.78%) were the top gainers.
Among the other gainers were HCL Technologies (up 0.69%), Mphasis (up 0.68%), Tata Consultancy Services (up 0.49%), L&T Technology Services (up 0.41%) and LTI Mindtree (up 0.33%).
Tech Mahindra rose 1.12%. The IT firm said that the company will announce its audited results for the fourth quarter and year ended 31 March 2023 on 27 April 2023.
Stocks in Spotlight:
Lumax Industries fell 0.82%. The company` board approved Vineet Sahni`s resignation from the post of whole time director and chief executive officer (CEO) of the company, effective from the close of business hours on 14 April 2023.
HFCL shed 0.16%. The telecom company on Wednesday announced that it has received the purchase orders aggregating to Rs 123.84 crore from Reliance Projects & Property Management Services for supply of optical fiber cables.
Powered by Capital Market - Live News