Sensex gains 195 pts, Nifty above 18,200 level, VIX slips over 3%

22 Nov 2022 , 12:36 PM

The domestic equity barometers traded near the days high with modest gains in the early afternoon trade. The Nifty hovered above the 18,200 level. Metal, consumer durables and PSU bank stocks were in demand while realty and oil & gas shares corrected. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 194.75 points or 0.32% to 61,339.59. The Nifty 50 index added 60.25 points or 0.33% to 18,220.20. In the broader market, the S&P BSE Mid-Cap index gained 0.23% while the S&P BSE Small-Cap index shed 0.08%. The market breadth was negative. On the BSE, 1,625 shares rose, and 1,702 shares fell. A total of 166 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, slipped 3.44% to 14.29. The Nifty 24 November 2022 futures were trading at 18,250.95, at a premium of 30.75 points as compared with the spot at 18,220.20. The Nifty option chain for the 24 November 2022 expiry showed maximum Call OI of 125.9 lakh contracts at the 18,300 strike price. Maximum Put OI of 120.8 lakh contracts were seen at 18,200 strike price. Buzzing Index: The Nifty Consumer Durables index rose 0.46% to 26,093. The index added 0.66% in two trading sessions. Havells India Ltd (up 1.17%), Titan Company Ltd (up 1.03%), Blue Star Ltd (up 0.95%), Voltas Ltd (up 0.64%), Dixon Technologies (India) Ltd (up 0.49%), Bata India Ltd (up 0.28%), Relaxo Footwears Ltd (up 0.04%), edged higher. On the other hand, Amber Enterprises India (down 1.42%), V-Guard Industries (down 0.92%) and Crompton Greaves Consumer Electricals (down 0.45%) declined. Stocks in Spotlight: Axis Bank shed 0.15%. The private lender said that S&P Global Ratings raised the banks long-term and short-term issuer credit rating to BBB-/A-3 from BB+/B and the outlook on the long-term rating is stable. The agency has also raised the long-term issue rating on the banks senior unsecured notes to BBB- from BB+. Sadbhav Engineering jumped 7.52%. The company announced that its CEO Vasistha C Patel has resigned with immediate effect, along with its executive director and CFO Nitin R Patil. Vasistha C Patel has resigned as chief executive officer (CEO) of the company with immediate effect. Nitin R Patil also resigned as executive director and chief financial officer (CFO) of the company. The company said that both the resignations were due to personal reasons. Further, on recommendation of nomination and remuneration committee, Rohit Modi has been appointed as CEO of the company in the category of key managerial personnel with effect from 21 November 2022. Powered by Capital Market – Live News