Sensex surges 1,107 pts, Nifty above 17,300 level, NSE VIX tumbles over 10%

14 Oct 2022 , 12:36 PM

The domestic equity benchmarks traded with robust gains in the early afternoon trade. The Nifty scaled above the 17,300 level. Strong global cues boosted the investor sentiments. All the sectoral indices on the NSE traded in the green with IT, bank and financial services stocks gaining the most. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 1,106.76 points or 1.93% to 58,342.09. The Nifty 50 index added 308.45 points or 1.81% to 17,322.80. The broader market relatively underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.89% while the S&P BSE Small-Cap index gained 0.92%. Buyers outnumbered sellers. On the BSE, 2,379 shares rose and 935 shares fell. A total of 157 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, slumped 10.26% to 18.21. The Nifty 27 October 2022 futures were trading at 17,350.25, at a premium of 27.45 points as compared with the spot at 17,322.80 The Nifty option chain for the 27 October 2022 expiry showed maximum Call OI of 41.3 lakh contracts at the 18,000 strike price. Maximum Put OI of 39.1 lakh contracts were seen at 17,000 strike price. Buzzing Index: The Nifty Bank index jumped 2.25% to 39,492.25.The index declined 1.26% in the past trading session. HDFC Bank (up 3.49%), Kotak Mahindra Bank (up 2.95%), ICICI Bank (up 2.38%), AU Small Finance Bank (up 2.27%), Bandhan Bank (up 1.78%), Bank of Baroda (up 1.46%), State Bank of India (up 1.36%), Punjab National Bank (up 1.25%), Federal Bank (up 0.88%) and Axis Bank (up 0.74%) edged higher. Stocks in Spotlight: Anand Rathi Wealth gained 2.78% after the company reported 41% jump in consolidated net profit to Rs 43 crore on a 34% increase in operating revenue to Rs 136.1 crore in Q2 FY23 over Q2 FY22. Assets under management (AUM) in Q2 FY23 was Rs 35,842 crore, up by 16% from Rs 30,989 crore in Q2 FY22. The companys board has approved an interim dividend of Rs 5 per equity share. Larsen & Toubro (L&T) advanced 2.83% . The EPC major said that the water & effluent treatment business of L&T Construction has secured repeat orders from the Narmada Water Resources, Water Supply & Kalpsar Department, Government of Gujarat, to execute pumping system and pipeline works from Tappar Dam to Nirona Dam (Northern Link). This is the single largest order secured by the business in Gujarat, it added. Den Networks rose 2.11% after the cable TV distributor reported a 20.6% rise in consolidated net profit to Rs 47.51 crore despite of 11.6% fall in net sales to Rs 287.30 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News