Market Commentary - Mid-Session
Indices pare all gains; VIX slides 1.66% As on : 10-Dec-24  12:33

The domestic equity benchmarks erased all gains and traded in negative terrain in early afternoon trade. The Nifty traded below the 24,600 level. Realty shares extended gains for the second consecutive trading session.

At 12:27 IST, the barometer index, the S&P BSE Sensex was down 64.05 points or 0.08% to 81,445.25. The Nifty 50 index lost 26.05 points or 0.11% to 24,592.95.

In the broader market, the S&P BSE Mid-Cap index added 0.08% and the S&P BSE Small-Cap index shed 0.01%.

The market breadth was positive. On the BSE, 1,946 shares rose and 1,894 shares fell. A total of 155 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.66% to 13.87. The Nifty 26 December 2024 futures were trading at 24,711.45, at a premium of 118.50 points as compared with the spot at 24,592.95.

The Nifty option chain for the 26 December 2024 expiry showed maximum Call OI of 50.4 lakh contracts at the 26,000 strike price. Maximum Put OI of 68.4 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty Realty index rose 0.97% to 1,087.35. The index rallied 1.25% in two consecutive trading sessions.

Raymond (up 11.59%), Phoenix Mills (up 2.59%), Macrotech Developers (up 1.33%), Brigade Enterprises (up 1.29%), Mahindra Lifespace Developers (up 0.72%), DLF (up 0.54%) and Godrej Properties (up 0.42%) advanced.

On the other hand, Sobha (down 2.8%), Oberoi Realty (down 0.23%) and Prestige Estates Projects (down 0.05%) edged lower.

Stocks in Spotlight:

Solex Energy rallied 4.07% after the company announced that it has received a work order worth Rs 29 crore from Zodiac Energy for supply of solar PV Modules.

NACL Industries soared 10.95% after the company said that its board will meet on Thursday, 12 December 2024, to consider and evaluate proposals for fundraising.

NBCC (India) shed 0.22%. The company informed that it has received an order worth Rs 432 crore from Central University of Odisha.

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