A bout of volatility was witnessed as the benchmark indices bounced back after briefly slipping into the red in early afternoon trade. The Nifty index hovered below 16,700 mark. The Nifty Oil & Gas index advanced for the third consecutive day.
At 12:20 IST, the barometer index, the S&P BSE Sensex, surged 108.69 points or 0.19% at 56,067.67. The Nifty 50 index added 54.90 points or 0.33% at 16,679.50.
The Sensex hit a record high of 56,198.13 while Nifty attained an all-time high of 16,712.45 in mid-morning trade today.
In the broader market, the S&P BSE Mid-Cap index rose 0.51% while the S&P BSE Small-Cap index gained 0.80%. Both these indices outperformed the main stock indices.
The market breadth was strong. On the BSE, 2,060 shares rose and 979 shares fell. A total of 132 shares were unchanged.
Global sentiment improved as US House passed a measure approving $3.5 trillion budget blueprint and USFDA granted full approval to COVID-19 vaccine developed by Pfizer. Investors continued to remain concerned that spread of highly infectious delta variant may derail the global economic recovery. Additionally, markets will remain vigilant ahead of the Jackson Hole Symposium.
US central bankers will meet virtually for an annual gathering traditionally held in Jackson Hole in Wyoming. Jerome H. Powell, the Fed's chair, will speak on Friday and is expected to reveal details about how and when the bank plans to begin winding down its bond-buying program.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 21,32,05,948 with 44,52,460 deaths. India reported 3,22,327 active cases of COVID-19 infection and 4,35,758 deaths while 3,17,54,281 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India's COVID-19 vaccination coverage has crossed 59 crore 47 lakh mark. The cumulative figure stands at 59 crore 47 lakh 65 thousand and 751.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, advanced 2.18% to 13.4750. The Nifty 26 August 2021 futures were trading at 16,656.55, at a discount of 22.95 points as compared with the spot at 16,679.50.
The Nifty option chain for 26 August 2021 expiry showed maximum Call OI of 67.9 lakh contracts at the 16,700 strike price. Maximum Put OI of 74.4 lakh contracts was seen at 16,500 strike price.
Buzzing Index:
The Nifty Oil & Gas index rose 1.39% to 6,929.85. The index has added 3.54% in three sessions.
Adani Total Gas (up 5%), Hindustan Petroleum Corporation (HPCL) (up 3.62%), ONGC (up 2.96%), Oil India (up 2.43%) and Gulf Oil Lubricants India (up 1.49%) were the major gainers in the Oil & Gas segment.
Stocks in Spotlight:
Adani Ports and Special Economic Zone (APSEZ) advanced 2.71% after the company announced that the company has received approval from the Andhra Pradesh Maritime Board for acquiring 10.4% stake in Gangavaram Port. APSEZ announced that its proposal to acquire 10.4% stake for Rs 644.78 crore of Gangavaram Port from the Andhra Pradesh government has received approval from the Andhra Pradesh Maritime Board. The transaction is expected to complete within a month.
Wipro rose 0.63%. The IT major announced that it will open a new delivery center in Sherwood, Arkansas in US and expects to hire up to 400 employees in the next two years in the city. Wipro will invest approximately $3 million to transform a 70,000 square-foot facility at Landers Road into a customer service center. The delivery center will provide operational services to Wipro's clients across industry verticals.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
