The equity benchmarks extended gains and hit record high levels in early afternoon trade. Barring the Nifty Auto index, all the sectoral indices on the NSE were in the green. At 12:20 IST, the barometer index, the S&P BSE Sensex, jumped 239.58 points or 0.53% at 45,319.13. The Nifty 50 index advanced 71.10 points or 0.54% at 13,329.65.
The Sensex hit a record high of 45,348.72 and the Nifty hit a record high of 13,336.85 in the early afternoon trade.
In the broader market, the S&P BSE Mid-Cap index rose 0.85% while the S&P BSE Small-Cap index gained 1.34%.
The market breadth was strong. On the BSE, 1,956 shares rose and 797 shares fell. A total of 188 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.55% to 18.1275. The Nifty December 2020 futures were trading at 13,331.40, at a premium of 37.30 points compared with the spot at 13,294.10.
The Nifty option chain for 31 December 2020 expiry showed maximum Call OI of 26.81 lakh contracts at the 13,000 strike price. Maximum Put OI of 33.45 lakh contracts was seen at 12,000 strike price.
Economy:
In the ongoing Kharif Marketing Season, the government continues to procure Kharif crops at its Minimum Support Price (MSP) from farmers as per its existing MSP schemes. About 32.92 lakh paddy farmers have benefitted from Kharif Marketing Season Procurement Operations with MSP value of over Rs 63,563 crore.
Agriculture Ministry said over 336 lakh metric tonnes of paddy have been procured against the last year corresponding purchase of around 280 lakh metric tonnes. This shows an increase of 20.27% over last year. Out of the total purchase of over 336 lakh metric tonnes, Punjab alone has purchased 202.77 lakh metric tonnes till the close of procurement season in the state on 30th of last month. It is 60.23% of total procurement in the country.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 6,70,73,728 with 15,36,056 deaths. India reported 3,96,729 active cases of COVID-19 infection and 1,40,573 deaths while 91,39,901 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty PSU Bank index rose 1.89% to 1,730.10. The index added 8.38% in three sessions.
Bank of Maharashtra (up 5.28%), Central Bank of India (up 4.56%), Canara Bank (up 4.14%), UCO Bank (up 2.32%) and Punjab National Bank (up 1.96%) were the top gainers in PSU Bank segment.
Stocks in Spotlight:
ONGC rose 2.17% to Rs 91.8 after the company's wholly owned overseas arm ONGC Videsh, made a significant oil discovery in its onshore block CPO-5 in Llanos Basin in Colombia.
Maruti Suzuki India slipped 0.51%. The car major said its total production increased 5.91% to 1,50,221 units in November 2020 from 1,41,834 units produced in November 2019. Total passenger vehicle production rose to 1,46,577 units in November 2020 from 1,39,084 units in November 2019.
Indian Energy Exchange (IEX) fell 0.42%. The company traded electricity volume of 6,164 million units (MU) in November 2020, registering a significant 61% Y-o-Y growth. The day-ahead market volume at 4,860 MU (million units) also recorded 43% Y-o-Y growth. The real-time electricity market saw all time high volume of 894 MU in November 2020 since commencement on 1 June 2020 and registered a 10% growth on M-o-M (month-on-month) basis. The highest volume traded on a single day was 40.60 MU on 29 November 2020.
Larsen & Toubro (L&T) rose 0.72% to Rs 1157.55. The construction and mining equipment business of L&T has secured multiple orders from Coal India subsidiaries and customers from the cement and iron ore sectors. These orders are for supplying 66 units of Komatsu 100 ton & 60 ton dump trucks, 15 units of Komatsu wheel loaders, 7 units of Komatsu hydraulic excavators and allied equipment. The scope includes supplying equipment and maintenance contracts for supporting operations over three to four years.
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