The broader market extended gains for second trading session and outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 2.07% while the S&P BSE Small-Cap index surged 2.11%.
The market breadth was strong. On the BSE, 1781 shares rose and 644 shares fell. A total of 159 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 3.05% to 20.0425. The Nifty September 2020 futures were trading at 11,195.80, at a premium of 10.9 points compared with the spot at 11,184.90.
The Nifty option chain for 1 October 2020 expiry showed maximum call open interest (OI) of 31.14 lakh contracts at the 11,300 strike price. Maximum put OI of 32.43 lakh contracts was seen at 11,000 strike price.
The Nifty option chain for 29 October 2020 expiry showed maximum Call OI of 13.07 lakh contracts at the 11,000 strike price. Maximum Put OI of 30.88 lakh contracts was seen at 10,500 strike price.
Buzzing Segment:
Shares of two cinema operators rose as cinema halls are set to reopen from 1 October 2020 in West Bengal (WB). West Bengal Chief Minister Mamata Banerjee on Saturday (26 September 2020) tweeted: "To return to normalcy, Jatras, Plays, OATs, Cinemas & all musical, dance, recital & magic shows shall be allowed to function with 50 participants or less from 1 Oct, subject to adherence to physical distancing norms, wearing of masks & compliance to precautionary protocols. Cinema halls have remained shut since the nationwide coronavirus lockdown began in late March.
Shares of PVR surged 10.69% to Rs 1218.60 and those of Inox Leisure jumped 5.78% to Rs 269.
Stocks in Spotlight:
Deepak Fertilisers & Petrochemicals Corporation spurted 2.15% after the company said that its securities issue committee will meet on or after 30 September 2020 to consider allotting FCCBs worth to $15 million to IFC. Last year, the company's securities issue committee approved the terms and conditions for issue of FCCBs aggregating to $30 million in two equal tranches to IFC and also disclosing the allotment of 30 (thirty) FCCBs having a par value of $500,000 each, being the first tranche, to IFC, for an aggregate amount of $15 million.
Ugro Capital rose 3.19% to Rs 95.50 after the company said it received Corporate Agency license (Composite) from the Insurance Regulatory and Development Authority of India (IRDA) on 25 September 2020. Under the said license, the company shall be entitled to tie up with life and general insurance companies to distribute their insurance products in line with various directions/guidelines issued by IRDA.
Meanwhile, the company in a separate announcement said that it is considering raising of funds through various options of borrowings including by way of issue of debt securities on a private placement basis. Based on the market conditions, Investment and Borrowing Committee will consider and approve such issuances of debt securities during October 2020.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 32,994,213 with 996,682 deaths. India reported 9,62,640 active cases of COVID-19 infection and 95,542 deaths while 50,16,520 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
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