Barometers turn rangebound, Nifty above 18,260 level

23 Nov 2022 , 12:36 PM

The domestic equity benchmarks traded in narrow range with minor gains in the early afternoon trade. The Nifty traded above the 18,260 level. Barring the Nifty Metal index, all the sectoral indices on the NSE were in the green. At 12:30IST, the barometer index, the S&P BSE Sensex, was up 104.38 points or 0.17% to 61,523.34. The Nifty 50 index added 26.90 points or 0.15% to 18,271.10. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.33% while the S&P BSE Small-Cap index added 0.63%. The market breadth was positive. On the BSE, 1,944 shares rose, and 1,438 shares fell. A total of 123 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, fell 0.32% to 13.80. The Nifty 24 November 2022 futures were trading at 18,293.20, at a premium of 22.1 points as compared with the spot at 18,271.10. The Nifty option chain for the 24 November 2022 expiry showed maximum Call OI of 179.9 lakh contracts at the 18,300 strike price. Maximum Put OI of 110.7 lakh contracts were seen at 18,300 strike price. Buzzing Index: The Nifty Bank index rose 0.42% to 42,637.25.The index added 0.69% in two trading sessions. Punjab National Bank (up 4.36%), Federal Bank (up 2.17%), Bank of Baroda (up 1.17%), State Bank of India (up 1%), Axis Bank (up 0.73%), Kotak Mahindra Bank (up 0.71%), Bandhan Bank (up 0.54%), IDFC First Bank (up 0.44%), ICICI Bank (up 0.26%) and HDFC Bank (up 0.1%) edged higher. Stocks in Spotlight: Aurobindo Pharma rose 0.67%. The drug maker said that Acrotech Biopharma LLC, a wholly owned step-down subsidiary of the company, and Evive Biotech have entered into a license agreement to commercialize Ryzneuta in the United States. Ryzneuta is developed for the treatment of CIN in cancer patients after chemotherapy. Neutropenia is a common side-effect of chemotherapy and is a condition characterized by low levels of neutrophils, a type of white blood cell that fights infection. Precision Wires India gained 1.93% after the company announced that it has fixed Thursday, 22 December 2022 as the record date for the proposed bonus issue of shares. Powered by Capital Market – Live News