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Benchmarks trade with minor gains; IT share slides

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Last Updated : Aug 23 2024 | 12:50 PM IST
The key equity indices continued to trade with small gains in early afternoon trade. The Nifty traded above the 24,800 level. IT shares extended losses for the third consecutive trading session.

At 12:30 IST, the barometer index, the barometer index, the S&P BSE Sensex, rose 52.34 points or 0.06% to 81,103.10. The Nifty 50 index added 26.80 points or 0.11% to 24,838.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.34% and the S&P BSE Small-Cap index rose 0.14%.

The market breadth was positive. On the BSE, 2,079 shares rose and 1,728 shares fell. A total of 134 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.42% to 12.95. The Nifty 29 August 2024 futures were trading at 24,865.15, at a premium of 26.85 points as compared with the spot at 24,838.30.

The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 65 lakh contracts at the 26,000 strike price. Maximum Put OI of 87.4 lakh contracts were seen at 24,000 strike price.

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Buzzing Index:

The Nifty IT index rose 0.82% to 41,166.80. The index shed 0.97% in three consecutive trading sessions.

Mphasis (down 2.14%), Persistent Systems (down 1.35%), LTIMindtree (down 1.12%), Tech Mahindra (down 0.95%), Infosys (down 0.85%), Tata Consultancy Services (down 0.77%), Coforge (down 0.66%), Wipro (down 0.64%), HCL Technologies (down 0.57%) and L&T Technology Services (down 0.19%) declined.

Stocks in Spotlight :

Adani Power (APL) rose 0.58%. The company said that it has received an approval from the National Company Law Tribunal (NCLT) Hyderabad Bench to acquire 100% stake in Lanco Amarkantak Power (LAPL).

Shakti Pumps (India) added 1.02% after the company announced that it has received an order worth Rs 9.40 crore from Jharkhand Renewable Energy Development Agency for supply of 400 units of solar water pumping systems.

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First Published: Aug 23 2024 | 12:35 PM IST

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