Nifty climbs above 25,250; consumer durables shares advance

The domestic equity benchmarks continued to trade with modest gains in early afternoon trade. The Nifty marched above the 25,250 mark. Consumer durables shares advanced for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex gained 316.18 points or 0.38% to 82,437.72. The Nifty 50 index added 105.35 points or 0.42% to 25,257.70.

The Sensex and Nifty clocked an all-time high of 82,637.03 and 25,258.80, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.66% and the S&P BSE Small-Cap index gained 0.52%. The S&P BSE Mid-Cap index hit an all-time high at 49,172.41.

The market breadth was strong. On the BSE, 2,236 shares rose and 1,583 shares fell. A total of 121 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, slipped 1.99% to 13.51. The Nifty 29 August 2024 futures were trading at 25,334.55, at a premium of 76.85 points as compared with the spot at 25,257.70.

The Nifty option chain for the 5 September 2024 expiry showed maximum Call OI of 62.9 lakh contracts at the 26,000 strike price. Maximum Put OI of 67.4 lakh contracts were seen at 25,200 strike price.

Buzzing Index:

The Nifty Consumer Durables index rose 0.59% to 41,481.20. The index added 0.85% in two trading sessions.

Crompton Greaves Consumer Electricals (up 2.57%), Dixon Technologies (India) (up 1.55%), Titan Company (up 1.17%), Kalyan Jewellers India (up 0.65%), Blue Star (up 0.22%), Havells India (up 0.08%) and Bata India (up 0.06%) edged higher.

On the other hand, V-Guard Industries (down 1.3%), Voltas (down 1.2%) and Amber Enterprises India (down 1.06%) edged lower.

Stocks in Spotlight:

Rail Vikas Nigam (RVNL) rallied 3.52% after the company said that it has received letter of acceptance (LoA) from south eastern railway for a project worth Rs 202.87 crore.

Jai Corp slipped 5.39%. The steel-to-spinning yarn manufacturer announced that its board has approved share buyback of upto Rs 117.77 crore at a price of Rs 400 per equity share through tender offer route.

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