The benchmark indices recovered after briefly slipping into the negative terrain in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 94.14 points or 0.19% at 49,827.98. The Nifty 50 index gained 39.55 points or 0.27% at 14,904.10.
In the broader market, the S&P BSE Mid-Cap index added 0.05% while the S&P BSE Small-Cap index rose 0.23%.
The market breadth was negative. On the BSE, 1,249 shares rose and 1,501 shares fell. A total of 185 shares were unchanged.
Trading was volatile as traders roll over positions in F&O segment from the near month April series to May series. The April 2021 F&O contracts will expire today.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.90% to 23.01. The Nifty 29 April 2021 futures were trading at 14,895.10, at a discount of 9 points as compared with the spot at 14,904.10.
The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 95.6 lakh contracts at the 15,000 strike price. Maximum Put OI of 69.8 lakh contracts was seen at 14,500 strike price.
Politics:
The eighth and final phase of voting in Bengal is underway today. All eyes will be glued to the exit polls for four states and one Union Territory. As per the Election Commission, exit polls for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry can be published at 7.30 pm today (29 April, Thursday) an hour after polls close. Votes will be counted on 2 May 2021.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 14,96,35,392 with 31,51,064 deaths. India reported 30,84,814 active cases of COVID-19 infection and 2,04,832 deaths while 1,50,86,878 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
On Wednesday, 14 states and UTs recorded their highest single-day case count on Wednesday, with India reporting nearly 3.8 lakh cases in last 24 hours and over 3,000 deaths.
Buzzing Index:
The Nifty Auto index lost 0.41% to 9,831.10. The index rose 2.86% in the past three sessions.
TVS Motor Company (down 1.87%), Hero MotoCorp (down 1.34%), Mahindra & Mahindra (M&M) (down 1.21%), Eicher Motors (down 1.15%) and Bosch (down 0.94%) were the top losers in Auto segment.
Stocks in Spotlight:
Axis Bank rose 1% after the banking major on Thursday, announced that the board has approved the re-appointment of Amitabh Chaudhry as MD & CEO of the bank for a further period of three years.
Steel Strips Wheels (SSWL) gained 1.90% after the company said it received new orders worth over Rs 25 crore from US and Europe. The company said that it had received export orders of over 1,70,000 wheels for US & EU caravan trailer market, US mobile home and US truck trailer market.
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