SENSEX ADDS 80 PTS; PRIVATE BANK SHARES CLIMB FOR 7TH DAY

The headline equity benchmarks traded with limited gains in early afternoon trade. The Nifty traded above the 23,650 mark. Private bank shares extended gains for the seventh consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, added 80 points or 0.10% to 78,074.68. The Nifty 50 index rose 17.60 points or 0.07% to 23,675.95.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.24% and the S&P BSE Small-Cap index declined 1.71%.

The market breadth was strong. On the BSE, 2,986 shares rose and 1,068 shares fell. A total of 112 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, shed 0.98% to 13.84. The Nifty 27 March 2025 futures were trading at 23,720.10, at a premium of 44.15 points as compared with the spot at 23,675.95.

The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 131.7 lakh contracts at the 25,000 strike price. Maximum put OI of 130 lakh contracts was seen at 23,000 strike price.

Buzzing Index:

The Nifty Private Bank index rose 0.07% to 25,862.15. The index jumped 7.95% in the seventh consecutive trading session.

HDFC Bank (up 2.14%), Kotak Mahindra Bank (up 0.61%), Bandhan Bank (up 0.45%), and Axis Bank (up 0.31%) advanced.

On the other hand, IndusInd Bank (down 4.88%), IDFC First Bank (down 1.21%), and ICICI Bank (down 0.9%) edged lower.

Stocks in Spotlight:

Bajel Projects advanced 1.56% after the company announced that it had secured a large EPC order from Madhya Pradesh Power Transmission Corporation (MPPTCL).

Dev Information Technology added 1.21% after the company announced that it has secured a noteworthy order from the Media Informatics division of the National Informatics Centre (NIC) worth Rs 86 lakhs.

Kalpataru Projects International rallied 2.86% after the company and its international subsidiaries secured new orders worth Rs 2,366 crore.

Punjab & Sind Bank jumped 6.70% after the company said that its board approved the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 40.38 per equity share.

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