Indices trade near the flat line; broader mkt outperforms

The key equity indices traded near the flat line with tiny gains in early afternoon trade. The Nifty traded above the 18,100 mark. Realty shares advanced for third straight day.

At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 18.88 points or 0.03% to 60,946.31. The Nifty 50 index added 1.30 points or 0.01% to 18,133.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.26% while the S&P BSE Small-Cap index added 0.47%.

The market breadth was positive. On the BSE, 2,105 shares rose and 1,233 shares fell. A total of 158 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.48% to 15.5175. The Nifty 29 December 2022 futures were trading at 18,135, at a premium of 1.4 points as compared with the spot at 18,133.60.

The Nifty option chain for the 29 December 2022 expiry showed maximum Call OI of 121 lakh contracts at the 18,200 strike price. Maximum Put OI of 141.8 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty Realty index rose 0.71% to 428.05. The index added 4.4% in three trading sessions.

Macrotech Developers (up 5.61%), DLF (up 0.74%), Phoenix Mills (up 0.67%), Indiabulls Real Estate (up 0.5%), Godrej Properties (up 0.24%) and Oberoi Realty (up 0.18%) were the gainers.

On the other hand, Sobha (down 1.5%), Prestige Estates Projects (down 0.92%) and Brigade Enterprises (down 0.15%) edged lower.

Stocks in Spotlight:

Adani Transmission advanced 2.55% after the company said that it has incorporated a wholly owned subsidiary, BEST Smart Metering (BSML), on 27 December, 2022, with an initial authorized and paid-up share capital of Rs 1 lakh each. The power transmission company said that it incorporated BSML for smart metering business.

Indowind Energy was locked in an upper circuit of 5% after its board in its meeting held on 27 December 2022, approved rights issue of 3.58 crore equity shares aggregating to Rs 43.07 crore. The company will allot two equity shares for every five equity shares held by the eligible equity shareholders of the company, as on the record date. The record date for the same is fixed at 13 January 2023.

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