The domestic equity barometers continued to trade with minor gains in early afternoon trade. The Nifty traded above the 18,000 level after hitting the day's low of 17,967.45 in the morning trade. Metal, realty and media stocks were in demand while FMCG, bank and financial services shares corrected.
At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 62.53 points or 0.10% to 60,628.95. The Nifty 50 index added 28.70 points or 0.16% to 18,043.30.
In the broader market, the S&P BSE Mid-Cap index advanced 0.37% while the S&P BSE Small-Cap index gained 1.14%.
The market breadth was strong. On the BSE, 2,446 shares rose, and 934 shares fell. A total of 123 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.41% to 15.71. The Nifty 29 December 2022 futures were trading at 18,053.80, at a premium of 10.5 points as compared with the spot at 18,043.30.
The Nifty option chain for the 29 December 2022 expiry showed maximum Call OI of 103 lakh contracts at the 18,200 strike price. Maximum Put OI of 106.7 lakh contracts were seen at 18,000 strike price.
IPO Update:
The IPO of Radiant Cash Management Services received bids for 34,75,200 shares as against 2,74,29,925 shares on offer, according to stock exchange data at 12:21 IST on Tuesday (27 December 2022). The issue was subscribed 13%.
The issue opened for bidding on Friday (23 December 2022) and it will close on Tuesday (27 December 2022). The price band of the IPO is fixed at Rs 94-99 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media index rose 0.87% to 1,975.60. The index added 3.75% in two trading sessions.
PVR (up 2.78%), Inox Leisure (up 2.63%), Network 18 Media & Investments (up 2.07%), Hathway Cable & Datacom (up 0.89%), Nazara Technologies (up 0.86%), TV18 Broadcast (up 0.83%), Saregama India (up 0.25%) edged higher.
On the other hand, Sun TV Network (down 0.92%), Zee Entertainment Enterprises (down 0.19%) declined.
Stocks in Spotlight:
Indian Energy Exchange (IEX) rose 1.28% after the firm said that it has incorporated a wholly owned subsidiary, International Carbon Exchange with an authorized share capital of Rs 10 crore and paid-up share capital of Rs 5 crore each.
Bank of Maharashtra rallied 3.74% after the state-run lender said that it has raised Rs 880 crore through allotment of basel III compliant additional tier 1 (AT1) bonds to 9 allottees upon receipt of application money.
Capacite Infraprojects added 1.67% after the company received a construction order worth Rs 695 crore from Saifee Burhani Upliftment Trust (SBUT). The order is for construction of core and shell work at sector 04 of SBUT project located at Ward 'C' at Bhendi Bazaar in Mumbai.
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