KEY EQUITY BAROMETERS TRADE FLAT; PSU BANKS IN DEMAND

The domestic equity barometers traded flat in early afternoon trade. The Nifty traded below the 19,850 level. PSU bank witnessed some bit of value buying after declining in the past four sessions.

At 12:31 IST, the barometer index, the S&P BSE Sensex, was up 4.56 points or 0.01% to 65,974.60. The Nifty 50 index added 39.35 points or 0.02% to 19,834.05.

In the broader market, the S&P BSE Mid-Cap index gained 0.08% while the S&P BSE Small-Cap index advanced 0.13%.

The market breadth was positive. On the BSE, 1,958 shares rose and 1,730 shares fell. A total of 186 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, jumped 5.18% to 11.92. The Nifty 30 November 2023 futures were trading at 19,864.55, at a premium of 43.1 points as compared with the spot at 19,805.90.

The Nifty option chain for the 30 November 2023 expiry showed maximum Call OI of 122.4 lakh contracts at the 19,900 strike price. Maximum Put OI of 154.4 lakh contracts were seen at 19,800 strike price.

Buzzing Index:

The Nifty PSU Bank index rose 1.39% to 5,046.55. The index had declined _ % in the past four trading sessions.

Punjab National Bank (up 2.17%), Canara Bank (up 1.62%), Bank of Baroda (up 1.55%), Punjab & Sind Bank (up 1.47%) and Bank of Maharashtra (up 1.04%) were the top gainers.

Among the other gainers were Union Bank of India (up 0.7%), State Bank of India (up 0.44%), Bank of India (up 0.1%).

On the other hand, Indian Bank (down 0.86%), UCO Bank (down 0.66%) and Central Bank of India (down 0.45%) turned lower.

Stocks in Spotlight:

Vascon Engineers rallied 4.29%. The company announced that its board will meet on Thursday, 30 November 2023 to consider fund raising by issuing equity shares or any other eligible securities.

C.E. Info Systems rose 0.39%. The company said that its board has approved raising of funds for an amount not exceeding Rs 500 crore through qualified institutional placement (QIP).

Dynamatic Technologies gained 3.02%. The company announced completion of first delivery of Airbus A220 escape hatch door assembly to Airbus Atlantic.

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