Indices turn range bound; Nifty hovers above 17,950

12 Sep 2022 , 12:33 PM

The key equity benchmarks continued to trade in a narrow range with moderate gains in the early afternoon trade. The Nifty hovered above the 17,950 mark. All the sectoral indices on the NSE were in the green with media, IT and realty stocks leading the rally. At 12:29 IST, the barometer index, the S&P BSE Sensex, was up 417.43 points or 0.70% to 60,210.57. The Nifty 50 index gained 123.25 points or 0.69% to 17,956.60. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.82% while the S&P BSE Small-Cap index gained 0.99%. The market breadth was strong. On the BSE, 2,213 shares rose and 1,243 shares fell. A total of 193 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, rose 0.67% to 17.8375. The Nifty 29 September 2022 futures were trading at 17,990.25, at a premium of 33.65 points as compared with the spot at 17,956.60. The Nifty option chain for the 29 September 2022 expiry showed maximum Call OI of 79.2 lakh contracts at the 18,000 strike price. Maximum Put OI of 78.8 lakh contracts were seen at 17,900 strike price. Buzzing Index: The Nifty Realty index rose 1.27% to 470.80. The index lost 0.76% in the past two trading sessions. Among the components of the Nifty Realty index, Oberoi Realty (up 3.49%), Brigade Enterprises (up 3.16%), Godrej Properties (up 1.46%), DLF (up 1.41%) and Sunteck Realty (up 1.08%) were the top gainers. Among the other gainers were Prestige Estates Projects (up 0.82%), Macrotech Developers (up 0.22%). On the other hand, Indiabulls Real Estate (down 0.52%), Sobha (down 0.5%) and Phoenix Mills (down 0.05%) edged lower. Stocks in Spotlight: Happiest Minds Technologies rose 2.72% after the company announced the expansion of its Noida facility (Smiles 5) increasing its delivery capacity and leveraging the areas diverse high-technology talent pool. With the additional facility, the company said it would have a capacity of 450 in the NCR region. Ajanta Pharma fell 1.61% after the company announced that the US FDA had issued Form 483 was issued to us with 2 observations after the inspection of its Dahej facility. The company said that its formulation facility at Dahej was inspected by United States Food and Drug Administration (US FDA) from 5th September 2022 to 9th September 2022. Powered by Capital Market – Live News