The benchmark indices swayed between gains and losses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 66.40 points or 0.16% at 40,916.69. The Nifty 50 index was up 8.30 points or 0.07% at 12,051.50. Sentiment was affected by RBI's surprise move of keeping the rate unchanged.
The S&P BSE Mid-Cap index was down 0.13%. The S&P BSE Small-Cap index was up 0.12%.
The market breadth favored sellers. On the BSE, 1091 shares rose and 1245 shares fell. A total of 195 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined.
Stocks in Spotlight:
Force Motors rose 2.24% to Rs 1037.60. The company's production rose 9.17% to 1786 units in November 2019 from 1636 units in October 2019 but it was down by 12.54% as compared to 2042 units in November 2018. The company's domestic sales fell 9.24% to 1936 units in November 2019 from 2133 units in October 2019 but were up by 31.08% as compared to 1477 units in November 2018. The company's exported 176 units in November 2019 as compared to 93 units in October 2019 and 12 units in November 2018.
Larsen & Toubro Infotech (LTI) fell 2.59% to Rs 1627.40. The company informed that LTI has been visited by the US Department of Homeland Security on 4 December 2019 at its Edison office in New Jersey. The company is fully cooperating with the authorities.
Derivatives:
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The NSE's India VIX, a gauge of market's expectation of volatility over the near term, advanced 10.48% higher to 14.72. The Nifty December 2019 futures were trading at 12,084.25, a premium of 24.95 points compared with the spot at 12,059.30.
On the options front, the Nifty option chain for 26 December 2019 expiry showed maximum call open interest (OI) of 18.40 lakh contracts at the 12,500 strike price. Call writing was witnessed at 12,200 strike price, which added 1.05 lakh contracts.
Maximum put OI of 32.26 lakh contracts was seen at 12,000 strike price. Put writing was seen at the 11,800 strike price, which added 2.97 lakh contracts.
The option chain indicates that Nifty will stay between 12,000 and 12,500 till December expiry, 26 December 2019.
Numbers to watch:
The yield on 10-year benchmark federal paper rose to 6.587% at 14:20 IST compared with 6.462% in the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.45, compared with its close of 71.535 during the previous trading session.
MCX Gold futures for 5 December 2019 settlement fell 0.01% to Rs 38,089.
In the commodities market, Brent crude for February 2020 settlement was down 14 cents at $62.86 a barrel. The contract rose 3.58% or $2.18 to settle at $63 a barrel during the previous trading session.
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