Barometers trade with minor gains; FMCG shares rally

The key equity indices pared most of the gains and traded with small gains in early afternoon trade. The Nifty traded below the 23,800 mark after hitting days high of 23,867.65 in mid morning trade. FMCG shares extended gains for the second consecutive trading session.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 75.09 points or 0.10% to 78,615.26. The Nifty 50 index added 20.20 points or 0.09% to 23,773.65.

In the broader market, the S&P BSE Mid-Cap index added 0.03% and the S&P BSE Small-Cap index rose 0.19%.

The market breadth was positive. On the BSE, 2,026 shares rose and 1,825 shares fell. A total of 128 shares were unchanged.

 

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.84% to 13.27. The Nifty 26 December 2024 futures were trading at 23,795, at a premium of 21.35 points as compared with the spot at 23,773.65.

The Nifty option chain for the 26 December 2024 expiry showed a maximum call OI of 136.6 lakh contracts at the 24,000 strike price. Maximum put OI of 109.7 lakh contracts was seen at 23,500 strike price.

Buzzing Index:

The Nifty FMCG index gained 0.70% to 56,529.95. The index rose 1.67% in two consecutive trading sessions.

United Breweries (up 2.01%), Britannia Industries (up 1.14%), Colgate-Palmolive (India) (up 1.13%), Nestle India (up 0.98%), ITC (up 0.95%), United Spirits (up 0.94%), Radico Khaitan (up 0.73%), Tata Consumer Products (up 0.7%), Hindustan Unilever (up 0.67%) and Godrej Consumer Products (up 0.46%) advanced.

Stocks in Spotlight:

Greaves Cotton surged 10.45% after the companys material subsidiary, Greaves Electric Mobility (GEML) has filed a draft red herring prospectus (DRHP) with regulatory organisations in connection with its initial public offering.

Vraj Iron And Steel rallied 3.86% after the company successfully commenced commercial operation of sponge iron plant on 23 December 2024 of expansion project located at Dighoia, Bilaspur in Chhattisgarh.

Zaggle Prepaid Ocean Services rose 0.94%. The company announced that it has raised Rs 594.84 crore through qualified institutional placement (QIP) at Rs 523.20 per share.

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