Barometers trade near day's high

The Sensex and the Nifty trimmed gains after hitting fresh intraday high in early afternoon trade. The Nifty briefly crossed the 10,400 mark. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 370.72 points or 1.06% at 35,286.52. The Nifty 50 index added 95.30 points or 0.93% at 10,397.40.

In the broader market, the S&P BSE Mid-Cap index was down 0.06% while the S&P BSE Small-Cap index gained 0.32%.

The market breadth favored the buyers. On the BSE, 1344 shares rose and 1195 shares fell. A total of 121 shares were unchanged.

Coronavirus Update:

India reported 2,20,114 active cases of COVID-19 infection and 17,400 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Total coronavirus cases worldwide stood at 10,450,628 so far with 510,632 deaths, according to data from Johns Hopkins University.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, was down 3.57% to 28.07. The Nifty July 2020 futures were trading at 10,366, at a discount of 31.4 points compared with the spot at 10,397.40.

On the weekly index options front, the Nifty option chain for 2 July 2020 expiry showed maximum Call Open Interest (OI) of 36.15 lakh contracts at the 10,400 strike price. Maximum Put OI of 40.80 lakh contracts was seen at 10,000 strike price.

On the monthly index options front, the Nifty option chain for 30 July 2020 expiry showed maximum Call OI of 20.34 lakh contracts at the 11,500 strike price. Maximum Put OI of 26.53 lakh contracts was seen at 10,000 strike price.

Buzzing index:

The Nifty Auto index gained 0.18% to 6731. The index has added 1.3% in two sessions.

Among the index constituents, Bharat Forge (up 2.63%), Apollo Tyres (up 2.41%), Tata Motors (up 2.29%), Amara Raja Batteries (up 1.55%), Ashok Leyland (up 1.28%), Motherson Sumi Systems (up 1%), Exide Industries (up 0.74%), Eicher Motors (up 0.63%), Bajaj Auto (up 0.47%) and Mahindra & Mahindra (up 0.18%) advanced.

MRF (down 1.65%), Bosch (down 1.21%), Hero MotoCorp (down 0.29%) and TVS Motor Company (down 0.13%) declined.

Escorts lost 1.02% to Rs 1029.60 after the company's total tractor sales rose 21.1% to 10,851 units in June 2020 over June 2019. Total tractor sales are up by 64% sequentially from 6,594 units recorded in May 2020.

Maruti Suzuki India shed 0.29% to Rs 5,822. The car major's total sales slumped 54% to 57,428 units in June 2020 as against 124,708 units in June 2019. Total sales are significantly higher in June 2020 from 18,539 units registered in May 2020.

Maruti said that sales performance during June 2020 and Q1 FY21 should be seen in the context of the ongoing COVID-19 pandemic, lockdowns and restrictions required for safety.

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