Nifty hovers near 18,300 level; realty stocks advance

17 Jan 2022 , 12:34 PM

The benchmark indices extended gains in early afternoon trade, buoyed by auto and FMCG stocks. The Nifty was trading a tad below 18,300 mark.

At 12:30 IST, the barometer index, the S&P BSE Sensex, jumped 65.85 points or 0.11% at 61,288.88. The Nifty 50 index gained 41.85 points or 0.23% at 18,297.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.23% while the S&P BSE Small-Cap index added 0.73%.

The market breadth was strong. On the BSE, 2,279 shares rose and 1,217 shares fell. A total of 131 shares were unchanged.

COVID-19 Update:

In last 24 hours, India reported 2,58,089 fresh COVID-19 cases, as per the health ministrys data. The country reported 385 new deaths taking the death toll to 4,86,451. The country recorded 1,51,740 recoveries, taking the total number of recoveries to 3,52,37,461. The active cases comprise 4.43% of the total infections, while the national COVID-19 recovery rate has decreased to 94.27%, the ministry said.

Economy:

Finance Minister Nirmala Sitharaman held a pre-Budget stakeholders consultations with BJPs State party representatives, on 16 January 2022. BJP National Spokesperson Gopal Krishna Agarwal said, representatives from 25 states participated in this discussion. The representations were from industries, professionals, business communities, academicians, economists, tribal communities, and backward classes and women.

Derivatives:

The NSEs India VIX, a gauge of markets expectation of volatility over the near term, advanced 2.88% to 17.0325. The Nifty 27 January 2022 futures were trading at 18,322.70, at a premium of 25.1 points as compared with the spot at 18,297.60.

The Nifty option chain for 27 January 2022 expiry showed maximum Call OI of 20.4 lakh contracts at the 18,500 strike price. Maximum Put OI of 30.9 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Realty index rose 0.99% to 514.65. The index added 2.15% in two sessions.

Sobha (up 4.14%), Prestige Real Estates (up 4%), Brigade Enterprises (up 2.91%), Macrotech Developers (Lodha) (up 1.94%) and Godrej Properties (up 0.74%) were the top gainers in the Realty segment.

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