Key benchmark indices firmed up once again and hit fresh intraday high in early afternoon trade. Positive global sentiment lifted domestic market higher.
Finance Minister Nirmala Sitharaman will address the media at 03:15 pm today, 13 December 2019, at the National Media Centre, New Delhi. The agenda of the meet are unclear.
At 12:23 IST, the barometer index, the S&P BSE Sensex, was up 367.63 points or 0.91% at 40,949.07. The Nifty 50 index was up 92.40 points or 0.77% at 12,064.20.
The S&P BSE Mid-Cap index was up 0.68%. The S&P BSE Small-Cap index was up 0.69%.
The market breadth was titled in favour of buyers. On the BSE, 1386 shares rose and 763 shares fell. A total of 144 shares were unchanged. In Nifty 50 index, 35 stocks advanced while 15 stocks declined.
Derivatives:
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The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 3.82% to 13.8575. The Nifty December 2019 futures were trading at 12,114.45, a premium of 51.35 points compared with the spot at 12,063.10.
On the options front, the Nifty option chain for 26 December 2019 expiry showed maximum call open interest (OI) of 26.69 lakh contracts at the 12,000 strike price. Maximum put OI of 38.90 lakh contracts was seen at 12,000 strike price.
The option chain indicates that the 12,000 will be a crucial level for Nifty till December expiry.
Buzzing Index:
The Nifty Auto index rose 1.45% at 8,056.75, rising for the third straight session.
Tata Motors (up 3.23%), TVS Motor Company (up 3.12%), Escorts (up 2.76%), Ashok Leyland (up 2.68%), Mahindra & Mahindra (up 1.59%), Maruti Suzuki India (up 1.29%), Eicher Motors (up 1.21%) and Hero MotoCorp (up 0.25%) were top gainers in auto segment.
Stocks in Spotlight:
Bank of Baroda rose 2.6%. The bank said it has issued 65,14,65,798 equity shares of Rs 2/- each fully paid up at an issue price of Rs 107.45 per equity share (premium of Rs 105.45 per share) aggregating to Rs 7,000 crore to Government of India (promoter) on preferential basis.
The bank also signed the binding share purchase agreement for sale of business of Bank of Baroda (Trinidad & Tobago) (BOBTTL) with Ansa Merchant Bank, subject to regulatory approval.
Navin Fluorine International was up 3.09%. The company is planning a capex program at Dahej (Gujarat) through a wholly owned subsidiary with an estimated aggregate capital outlay of over Rs 450 crore over the next 3-4 years.
IT major Wipro rose 1.82%. The company was awarded a strategic multi-year cyber governance, cloud and infrastructure services transformation engagement by Tokyo-based Olympus.
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