Shares come off day`s high; metal stocks in demand
Published on Jan 12, 2022 12:30
The key equity indices trimmed gains in afternoon trade. The Nifty hovered around the 18,200 level. Metal stocks resumed their uptrend after a day`s breather.
At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 469.41 points or 0.77% to 61,086.30. The Nifty 50 index added 138.70 points or 0.77% to 18,194.45.
In the broader market, the S&P BSE Mid-Cap index added 0.69% while the S&P BSE Small-Cap index rallied 0.45%.
The market breadth was strong. On the BSE, 1856 shares rose and 1512 shares fell. A total of 92 shares were unchanged.
The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, rose 1.41% to 17.93. The Nifty 27 January 2022 futures were trading at 18,065.75, at a premium of 38.65 points as compared with the spot at 18,027.10.
The Nifty option chain for 27 January 2022 expiry showed maximum Call OI of 18.7 lakh contracts at the 18,000 strike price. Maximum Put OI of 35.2 lakh contracts was seen at 17,000 strike price.
The Nifty Metal index rose 1.04% to 5,668.55. The index had declined 1.90% to end at 5,610.35 yesterday.
NMDC (up 3.37%), JSW Steel (up 1.60%), National Aluminum Co. (up 1.59%), APL Apollo Tubes (up 1.17%), Jindal Steel & Power (up 1.15%), Tata Steel (up 0.90%), Hindustan Zinc (up 0.84%) advanced.
Hindalco Industries rose 2.33% to Rs 497.25. Novelis, the company`s wholly owned subsidiary, said that it will invest $365 million to build a highly advanced recycling center for automotive in North America. The new recycling facility, with annual capacity of about 240,000 metric tons of sheet ingot, will be built adjacent to Novelis` existing automotive finishing plant in Guthrie, Kentucky. The aluminium recycling plant is expected to commence operations in 2024.
India reported 1,94,720 new cases in the last 24 hours. The daily positivity rate stood at 11.05%. The country`s active caseload currently stands at 9,55,319. Active cases stands at 2.65% of the total infections and recovery rate currently stands at 96.01%. There were 60,405 recoveries in the last 24 hours, which increases total recoveries to 34,630,536.
Powered by Capital Market - Live News