Back

Market Commentary - Mid-Session
Barometers turn rangebound; consumer durables advance; NSE VIX slides 2.13% As on : 03-Sep-24  12:39

The domestic equity benchmarks traded in a narrow range with minor cuts in early afternoon trade. The Nifty traded near the 25,250 mark after hitting the day's high of 25,321.70 in early trade. Consumer durables shares advanced after declining in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 78.60 points or 0.10% to 82,481.24. The Nifty 50 index lost 25.55 points or 0.10% to 25,253.15.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.24% and the S&P BSE Small-Cap index gained 0.64%.

The market breadth was positive. On the BSE, 2,051 shares rose and 1,776 shares fell. A total of 115 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.13% to 13.76. The Nifty 26 September 2024 futures were trading at 25,351.95, at a premium of 98.80 points as compared with the spot at 25,253.15.

The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 45.2 lakh contracts at the 25,000 strike price. Maximum Put OI of 67.3 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index rose 0.95% to 41,567.55. The index shed 0.21% in the past trading session.

Voltas (up 2.25%), Dixon Technologies (India) (up 2.18%), Crompton Greaves Consumer Electricals (up 2.08%), Kajaria Ceramics (up 1.82%), V-Guard Industries (up 1.68%), Kalyan Jewellers India (up 1.43%), Havells India (up 0.97%), Bata India (up 0.6%), Whirlpool of India (up 0.41%) and Rajesh Exports (up 0.31%) advanced.

Stocks in Spotlight:

Tata Consultancy Services (TCS) added 0.09%. The company announced that it has expanded its partnership with Google Cloud to offer two new cybersecurity solutions for customers.

KPI Green Energy rose 1.09% after the company said that its wholly owned subsidiary Sun Drops Energia has received letters of intent for executing solar power projects with a cumulative capacity of 7 MW under the 'Captive Power Producer (CPP)' business segment of the company.

Powered by Capital Market - Live News