Sensex up 146 points; auto stocks decline

Equity indices traded sideways with small gains in early afternoon trade. The Nifty traded above the 17,200 mark. Auto stocks came under pressure while IT stocks witnessed buying demand.

At 12:32 IST, the barometer index, the S&P BSE Sensex, was up 146.58 points or 0.25% to 57,953.64. The Nifty 50 index added 30.1 points or 0.17% to 17,243.35.

In the broader market, the S&P BSE Mid-Cap index shed 0.31% while the S&P BSE Small-Cap index gained 0.38%.

The market breadth was positive. On the BSE, 1881 shares rose and 1384 shares fell. A total of 105 shares were unchanged.

Trading could get volatile ahead of the expiry of December F&O contracts by the end of the session.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.5% to 16.325. The Nifty 30 December 2021 futures were trading at 17,229, at a discount of 2 points as compared with the spot at 17,231.

The Nifty option chain for 30 December 2021 expiry showed maximum Call OI of 114.5 lakh contracts at the 17,300 strike price. Maximum Put OI of 115 lakh contracts was seen at 17,200 strike price.

Buzzing Index:

The Nifty Auto index slipped 0.69% to 10,754.90, snapping its three day winning streak. The index saw profit booking after rising nearly 2% in three days.

Bajaj Auto (down 1.9%), TVS Motor Company (down 1.24%), Tata Motors (down 1.12%), Ashok Leyland (down 103%), Bharat Forge (down 0.96%) and Maruti Suzuki (down 0.91%) were top losers in automobile space.

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