Sensex adds 70 pts; Nifty above 18,200; VIX down 1.75%

The key equity indices traded with minor gains in early afternoon trade. The Nifty traded above the 18,200 level. PSU bank, metal and realty shares advanced while pharma, healthcare and FMCG stocks declined.

At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 69.56 points or 0.11% to 61,203.44. The Nifty 50 index added 17.90 points or 0.09% to 18,208.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.56% while the S&P BSE Small-Cap index gained 1.09%.

The market breadth remained strong. On the BSE, 2,272 shares rose, and 1,065 shares fell. A total of 158 shares were unchanged.

Global stock markets are rounding off a tumultuous and difficult year, as governments and central banks grappled with sky-high inflation arising from the fallout from Russia`s war in Ukraine, and persistent Covid-19 restrictions in China.

Investors remain wary of the prospect of persistently high inflation, monetary policy tightening from central banks and a potentially prolonged period of sluggish economic growth.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 1.75% to 14.5525. The Nifty 25 January 2022 futures were trading at 18,287.05, at a premium of 78.15 points as compared with the spot at 18,208.90.

The Nifty option chain for the 25 January 2022 expiry showed maximum Call OI of 22.7 lakh contracts at the 19,000 strike price. Maximum Put OI of 33.4 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index rose 0.91% to 25,360.70. The index declined 0.40% in the past trading session.

Orient Electric (up 2.68%), Bata India (up 1.92%), Titan Company (up 1.56%), Kajaria Ceramics (up 0.75%), Rajesh Exports (up 0.69%), Relaxo Footwears (up 0.62%), Amber Enterprises India (up 0.56%), V-Guard Industries (up 0.49%), TTK Prestige (up 0.39%) and Whirlpool of India (up 0.35%) advanced.

Stocks in Spotlight:

Zensar Technologies rose 0.21%. The company on Friday said that its chief executive officer (CEO) and managing director (MD), Ajay Singh Bhutoria has tendered his resignation, due to personal reasons. He has also resigned from the board of directors and as CEO of Zensar Technologies Inc. USA, a wholly owned subsidiary of the company.

SBI Cards and Payment Services rose 1.43% after the NBFC announced that it has partnered with Punjab & Sind Bank to launch co-brand credit cards for the bank`s customers. The company said that the collaboration also marks the introduction of `credit cards` as a new product segment under the bank`s portfolio. Both the partners have rolled out three card variants - PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card, it added.

NTPC slipped 0.21%. The state-run power major said that it declared commercial operation of first part capacity of 10 megawatt (MW) out of 23 MW Solapur Solar PV project at Maharashtra with effect from 00:00 hrs of 30 December 2022.

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