The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.57% while the S&P BSE Small-Cap index rose 0.73%.
The market breadth was positive. On the BSE, 1971 shares rose and 1135 shares fell. A total of 167 shares were unchanged.
Trading was volatile as traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contracts expires today, 30 September 2021.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 233,231,373 with 4,773,860 deaths. India reported 277,020 active cases of COVID-19 infection and 448,062 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.
In the last 24 hours, India added 23,529 new cases. Active cases accounted for less than 1% of total cases, currently at 0.82%. Active caseload stands at 2,77,020; lowest in 195 days. The recovery rate currently stands at 97.85%.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.57% to 18.54. The Nifty 28 October 2021 futures were trading at 17,748, at a premium of 13 points as compared with the spot at 17,735.
The Nifty option chain for 28 October expiry showed maximum Call OI of 15.6 lakh contracts at the 18,000 strike price. Maximum Put OI of 26.3 lakh contracts was seen at 17,000 strike price.
Buzzing Index:
The Nifty Pharmaceutical index gained 0.85% to 14,527.9, extending its winning run to third trading session. The pharmaceutical index has rallied 2.6% in three days.
Abbot India (up 4.3%), Laurus Labs (up 2.63%), Sun Pharmaceutical Inds (up 1.71%), Dr. Reddy's Lab (up 1.35%), Biocon (up 1.27%) and Lupin (up 1%) were top gainers in pharmaceutical space.
Stocks in Spotlight:
Max Healthcare Institute rose 1.68% to Rs 360.95 after HDFC Mutual Fund and SBI Mutual Fund acquired stake in the company via bulk deals on Wednesday (29 September 2021). As per the bulk deal data on the NSE, HDFC Mutual Fund and SBI Mutual Fund bought 57 lakh shares (0.59% equity) and 4.28 crore shares (4.44% equity), respectively, in the healthcare company at Rs 350 per share each on Wednesday (29 September 2021). Similarly, Veritas Funds Plc on behalf of Veritas Asian Fund also picked up 52 lakh equity shares (0.54% equity) in Max Healthcare Institute at Rs 350 per share, the data showed. Meanwhile, Kayak Investments Holding, one of the promoter entities of Max Healthcare Institute, on Wednesday sold 8.44 crore shares (8.74% equity) of the company for Rs 2,956 crore through open market transactions.
Adani Green Energy rose 0.64%. The company's subsidiary Adani Renewable Energy (MH) signed definitive agreements with Essel Green Energy to acquire 100% economic value in an special purpose vehicle (SPV) that owns 40 MW operating solar project in Odisha. The project has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for Rs 4.235 per unit, with remaining PPA life of about 22 years. The closing of the transaction is subject to customary conditions. The acquisition of the project is at an enterprise valuation of Rs 219 crore.
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