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Market hits new life high; IT shares advance

Published on Jun 27, 2024 12:43

The key domestic indices traded with substantial gains in early afternoon trade. The Nifty traded above the 23,950 mark after hitting day�s low of 23,805.40 in early trade. IT shares jumped after declining in the past trading session. Trading could be volatile due to monthly F&O series expiry today.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 398.46 points or 0.51% to 79,072.71. The Nifty 50 index gained 110.35 points or 0.46% to 23,979.15.

The Sensex and Nifty clocked an all-time high of 79,186.93 and 24,015.25 respectively in early afternoon trade. Further, the Nifty Bank registered a life high of 53,180.75 in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index rose 0.04%.

The market breadth was weak. On the BSE, 1,831 shares rose and 1,912 shares fell. A total of 146 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, advanced 2.95% to 14.46. The Nifty 27 June 2024 futures were trading at 24,007.55, at a premium of 28.4 points as compared with the spot at 23,979.15.

The Nifty option chain for the 27 June 2024 expiry showed maximum Call OI of 215.9 lakh contracts at the 24,000 strike price. Maximum Put OI of 178.4 lakh contracts were seen at 23,800 strike price.

Buzzing Index:

The Nifty IT index rose 1.43% to 35,911.20. The index shed 0.06% in the past trading session.

Wipro (up 2.18%), Coforge (up 1.76%), LTIMindtree (up 1.71%), Persistent Systems (up 1.62%), Infosys (up 1.31%), Tata Consultancy Services (up 1.21%), L&T Technology Services (up 1.1%), Mphasis (up 1.06%), Tech Mahindra (up 0.97%) advanced.

Stocks in Spotlight :

Rail Vikas Nigam (RVNL) rose 1.19% after the company announced that its joint venture (JV), KRDCL-RVNL has received Letter of Acceptance (LoA) worth Rs 156.47 crore from Southern Railway.

Dr Reddy�s Laboratories rose 1.20% after the firm�s wholly owned subsidiary, Dr. Reddy`s Laboratories SA has entered into a definitive agreement with Haleon plc and its associate companies to acquire Nicotinell and related brands.

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