Benchmarks trade near day's high; India VIX cools to 25.40

·3-min read

Key benchmark indices were trading near the day's high in early afternoon trade. Strong Asian cues and rally in US Dow Jones futures boosted sentiment. At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 493.14 points or 1.37% at 36,514.56. The Nifty 50 index added 165.30 points or 1.56% at 10,772.65.

In the broader market, the S&P BSE Mid-Cap index rose 1.05% while the S&P BSE Small-Cap index gained 1.26%. Both these indices trailed the Sensex.

The market breadth favored the buyers as 1,561 shares rose and 977 shares fell. A total of 161 shares were unchanged on the BSE.

Coronavirus Update:

India reported 2,53,287 active cases of COVID-19 infection and 19,693 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Total coronavirus cases worldwide stood at 11,450,247 with 534,273 deaths so far, according to data from Johns Hopkins University.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, was down 1.40% to 25.405. The Nifty July 2020 futures were trading at 10,734.95, at a discount of 37.7 points compared with the spot at 10,772.65.

On the weekly index options front, the Nifty option chain for 9 July 2020 expiry showed maximum Call Open Interest (OI) of 30.82 lakh contracts at the 11,000 strike price. Maximum Put OI of 32.39 lakh contracts was seen at 10,000 strike price.

On the monthly index options front, the Nifty option chain for 30 July 2020 expiry showed maximum Call OI of 23.25 lakh contracts at the 11,500 strike price. Maximum Put OI of 30.73 lakh contracts was seen at 10,000 strike price.

Buzzing Index:

The Nifty Metal index rose 2.56% to 2,060. The index lost 0.42% on Friday.

Among the index constituents, Hindustan Copper (up 11.48%), Hindalco Industries (up 4.68%), Welspun Corp (up 4.15%), Vedanta (up 3.62%), Tata Steel (up 2.91%), National Aluminum Co. (up 2.16%), JSW Steel (up 1.94%), NMDC (up 1.88%), Coal India (up 0.96%), APL Apollo Tubes (up 0.63%) and MOIL (up 0.17%) edged higher.

Meanwhile, Ratnamani Metals Tubes (down 1.33%) and Hindustan Zinc (down 0.15%) declined.

Stocks in Spotlight :

SRF (up 5.15%), SAIL (up 4.05%), GMR Infrastructure (up 3.26%), Jindal Steel & Power (up 3.15%) and Bata India (up 3.01%) were the top mid-cap gainers.

Bharat Heavy Electricals (up 5.43%), Cummins India (up 5.31%), CreditAccess Grameen (up 5%), IDBI Bank (up 5%) and Adani Green Energy (up 4.99%) were the top small-cap gainers.

National Fertilizers (NFL) surged 12.99% to Rs 34.80 after the company achieved highest-ever fertilizer sale of 12.85 lakh metric tonnes (LMT) in Q1 June 2020. This is about 21.5% higher than the sales of 10.57 LMT reported in Q1 June 2019. Other than significant growth in Urea sale, Phosphatic and Potassic (P&K) fertilizers also recorded a growth of 13% during the quarter, NFL said.

Adani Ports and Special Economic Zone was up 0.87% to Rs 363.55. The company has achieved a throughput of 41.5 MMT across its nine operating ports in India during Q1 June 2020. During the quarter, Mundra Port surpassed Jawaharlal Nehru Port Trust (JNPT) volume to become the largest container port in India, it added.

Kalpataru Power Transmission jumped 5.98% to Rs 248.18 after the company said it has signed definitive agreements to sell Alipurduar Transmission to Adani Transmission for a total enterprise value of about Rs 1286 crore.



Source: Capitalmarket.com