Indices trade near flat line; India Vix drops below 5%

The key domestic indices traded with small gains in the early afternoon trade, supported by rising expectations of an interest rate cut by RBI in its December meeting. Investors now await the release of Q2 GDP data due later today. The Nifty traded above the 26,200 mark.

Pharma shares witnessed buying demand for fourth consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 38.99 points or 0.05% to 85,759.37. The Nifty 50 index added 5.05 points or 0.02% to 26,220.60.

In the broader market, the S&P BSE Mid-Cap index shed 0.07% and the S&P BSE Small-Cap index fell 0.13%.

The market breadth was almost even. On the BSE,1,960 shares rose and 1,950 shares fell. A total of 219 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.80% to 11.24. The Nifty 30 December 2025 futures were trading at 26,401.10, at a premium of 180.5 points as compared with the spot at 26,220.60.

The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 60.1 lakh contracts at the 26,000 strike price. Maximum put OI of 73.5 lakh contracts was seen at 26,000 strike price.

Buzzing Index:

The Nifty Pharma index advanced 0.38% to 22,948.50. The index jumped 2.03% in the four consecutive trading sessions.

Laurus Labs (up 2.45%), Ipca Laboratories (up 2.06%), Ajanta Pharma (up 0.76%), Glenmark Pharmaceuticals (up 0.58%), Sun Pharmaceutical Industries (up 0.57%), Lupin (up 0.51%), Alkem Laboratories (up 0.49%), Zydus Lifesciences (up 0.34%), Abbott India (up 0.32%) and Biocon (up 0.29%) advanced.

Stocks in Spotlight:

Ashoka Buildcon declined 3.37% after National Highways Authority of India (NHAI) temporarily suspended the company from participating in ongoing/future bids for one month or until an expert committee completes its investigation.

Newgen Software Technologies rose 0.21%. The company has secured an international contract from a leading bank in Malaysia to provide end-to-end project management services for an enterprise content management (ECM) system.

SEPC declined 1.37%. The company said it has bagged an AED 35,000,000 (Rs 85 crore) contract through its UAE arm, SEPC FZE, for a strategic energy infrastructure upgrade project in the United Arab Emirates.

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