Indices hover near flat line; NSE VIX at 12.60

The domestic equity barometers were trading near the flat line with some positive bias in early afternoon trade. The Nifty was trading above the 15,650 mark. Most auto stocks declined.

At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 2.69 points or 0.01% to 52,321.29. The Nifty 50 index added 4.40 points or 0.03% to 15,684.40.

In the broader market, the S&P BSE Mid-Cap index gained 0.08% while the S&P BSE Small-Cap index rose 0.98%.

The market breadth was strong. On the BSE, 1892 shares rose and 1187 shares fell. A total of 127 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.86% to 12.60. The Nifty 29 July 2021 futures were trading at 15,698.85, at a premium of 14.45 points compared with the spot at 15,697.60.

The Nifty option chain for 29 July 2021 expiry showed maximum Call OI of 27.9 lakh contracts at the 16,000 strike price. Maximum Put OI of 31.6 lakh contracts was seen at 15,500 strike price.

Buzzing Index:

The Nifty Auto index shed 0.14% to 10,672.70. The index advanced 0.82% yesterday.

TVS Motor Company (down 1.90%), Bajaj Auto (down 0.42%), Maruti Suzuki (down 0.28%), Tata Motors (down 0.17%), Eicher Motors (down 0.12%) and Mahindra & Mahindra (down 0.05%) declined.

Bharat Forge (up 1.06%), Ashok Leyland (up 0.12%) and Hero MotoCorp (up 0.08%) advanced.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) rose 1.99% to Rs 717.05 after the company said it handled cargo volume of 25.54 MMT in June 2021, registering a growth of 83% on year on year basis. In the container segment, APSEZ handled container volume of 0.67 million Twenty-foot Equivalent Units (TEUs) last month, registering a growth of 48% on a YoY basis.

Garden Reach Shipbuilders & Engineers rose 2.43% to Rs 206.55. The company has been awarded an export order for construction and supply of six Patrol Boats, through competitive bidding at the cost of $1,821,798.00, from the Department of Fisheries, Government of the People's Republic of Bangladesh.

Persistent Systems fell 1.07% to Rs 2,928 on profit booking. The stock advanced 15.42% in the past six sessions.

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