Sensex adds 141 pts; consumer durables advance; VIX slips over 4%

The key equity barometers traded with minor gains in the early afternoon trade. The Nifty traded above the 17,050 mark. Metal, consumer durables and healthcare stocks advanced while FMCG and oil & gas shares saw a bit of selling pressure.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 141.11 points or 0.24% to 58,041.30. The Nifty 50 index gained 43.65 points or 0.26% to 17,086.95.

In the broader market, the S&P BSE Mid-Cap index added 0.61% while the S&P BSE Small-Cap index rose 0.73%.

The market breadth was strong. On the BSE, 2,052 shares rose and 1,292 shares fell. A total of 135 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.11% to 15.55. The Nifty 29 March 2023 futures were trading at 17,158.30, at a premium of 71.35 points as compared with the spot at 17,086.95.

The Nifty option chain for the 29 March 2023 expiry showed maximum Call OI of 34.3 lakh contracts at the 18,000 strike price. Maximum Put OI of 53.4 lakh contracts were seen at 17,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index added 0.93% to 23,820.15. The index declined 1.84% in two trading sessions.

Voltas (up 1.93%), Whirlpool of India (up 1.88%), Titan Company (up 1.83%), Crompton Greaves Consumer Electricals (up 1.63%), Havells India (up 0.76%), Amber Enterprises India (up 0.59%), Orient Electric (up 0.56%), Bata India (up 0.23%), Rajesh Exports (up 0.18%) and Blue Star (up 0.14%) advanced.

On the other hand, TTK Prestige (down 1.48%), Dixon Technologies (India) (down 1.36%) and Relaxo Footwears (down 0.41%) edged lower.

Stocks in Spotlight:

KPI Green Energy jumped 4.56% after the company received the commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity of 31 MWdc solar power project under its Captive Power Producer (CPP) segment.

Deccan Gold Mines rose 0.57%. The company said that for further strengthening its technical capabilities, it has entered into strategic alliance agreements for setting up of processing plant and execution of mineral exploration and drilling work for its gold projects.

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