The benchmark indices witnessed a sharp reversal in early afternoon session. The Nifty crossed the 17,400 mark. Realty stocks corrected after an eight-day rally.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 144.47 points or 0.25% at 58,441.38. The Nifty 50 index gained 33.60 points or 0.19% at 17,411.40.
In the broader market, the S&P BSE Mid-Cap index added 0.04% while the S&P BSE Small-Cap index shed 0.22%.
The market breadth was negative. On the BSE, 1,319 shares rose and 1,701 shares fell. A total of 152 shares were unchanged.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 22,11,10,346 with 45,75,046 deaths. India reported 3,92,864 active cases of COVID-19 infection and 4,41,042 deaths while 3,22,24,937 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Derivatives:
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The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slipped 1.70% to 14.8475. The Nifty 30 September 2021 futures were trading at 17,402.50, at a discount of 8.90 points compared with the spot at 17,411.40.
The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 17.6 lakh contracts at the 17,500 strike price. Maximum Put OI of 34.5 lakh contracts was seen at 17,000 strike price.
Buzzing Index:
The Nifty Realty index fell 1.77% to 423.40. The index surged 15.40% in the past eight trading sessions.
Prestige Real Estates (down 5.06%), Sobha (down 5.03%), Oberoi Realty (down 2.12%), DLF (down 1.66%) and IndiaBulls Real Estate (down 1.57%) declined.
Stocks in Spotlight:
Nuvoco Vistas Corporation rose 0.36%. The cement maker posted a consolidated net profit of Rs 114.28 crore in Q1 FY22 as against net loss of Rs 91.38 crore registered in Q1 FY21. On a consolidated basis, revenue from operations jumped 162% to Rs 2,202.97 crore in Q1 FY22 over Q1 FY21. Profit before tax stood at Rs 157.45 crore in Q1 FY22 compared with pre tax loss of Rs 142.65 crore in Q1 FY21. EBITDA soared 126% to Rs 520 crore in Q1 FY22 as against Rs 230 crore in the same period last year. EBITDA margin improved to 23.6% in Q1 FY22 as against 16.6% in Q1 FY21.
Wonderla Holidays lost 0.49%. Valuequest India Moat Fund offloaded 3,48,251 equity shares (or 0.61% stake) of the company at Rs 238.11 per equity share via bulk deals on NSE on Monday, 6 September 2021. As of 30 June 2021, Valuequest India Moat Fund held 1.80% stake in Wonderla Holidays.
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