Nifty above 17,200; IT stocks in demand

The benchmark indices extended gains in early afternoon trade. Consumer durables, IT and auto stocks were in demand. The Nifty was hovering above 17,200 level.

At 12:30 IST, the barometer index, the S&P BSE Sensex, jumped 476.01 points or 0.83% at 57,896.25. The Nifty 50 index gained 147.50 points or 0.86% at 17,233.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.99% while the S&P BSE Small-Cap index added 1.43%.

The market breadth was strong. On the BSE, 2,571 shares rose and 703 shares fell. A total of 99 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, declined 2.24% to 16.7325. The Nifty 30 December 2021 futures were trading at 17,237.60, at a premium of 3.85 points as compared with the spot at 17,233.75.

The Nifty option chain for 30 December 2021 expiry showed maximum Call OI of 68.8 lakh contracts at the 17,500 strike price. Maximum Put OI of 107.5 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty IT index rose 1.17% to 38,433.75. The index has added 7% in six trading sessions.

Mphasis (up 2.40%), Tech Mahindra (up 1.68%), HCL Technologies (up 1.48%), Infosys (up 1.43%) and MindTree (up 1.17%) were the top gainers in the IT segment.

Powered by Capital Market - Live News