Nifty above 22,750 mark; consumer durables shares rally for 2nd day

The key equity benchmarks continued to trade with strong gains in early afternoon trade. The Nifty traded above the 22,750 mark. Consumer durable shares jumped for the second consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 837.31 points or 1.13% to 75,006.33. The Nifty 50 index rallied 248.20 points or 1.10% to 22,756.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 1.58% and the S&P BSE Small-Cap index jumped 2.21%.

The market breadth was strong. On the BSE, 2726 shares rose and 1122 shares fell. A total of 153 shares were unchanged.

Economy:

Indias merchandise exports during February 2025 were $36.91 billion as compared to $41.41 billion in February 2024, recording a slide of around 11%. Merchandise imports during February 2025 were $50.96 billion as compared to $60.92 billion in February 2024, down 16.34%. Merchandise exports during April-February 2024-25 were $ 395.63 billion as compared to $395.38 billion during April-February 2023-24.

Merchandise imports during April-February 2024-25 were $656.68 billion as compared to $621.19 billion during April-February 2023-24. Merchandise trade deficit during April-February 2024-25 was $261.06 billion as compared to $225.81 billion during April-February 2023-24.

Dervatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.37% to 13.37. The Nifty 27 March 2025 futures were trading at 22,809.05, at a premium of 52.1 points as compared with the spot at 22,756.95.

The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 64.9 lakh contracts at the 23,000 strike price. Maximum put OI of 84.5 lakh contracts was seen at 22,500 strike price.

Buzzing Index:

The Nifty consumer Druables added 2.18% to 35,423.10. The index jumped 2.42% in the two trading session.

Blue Star (up 6.17%), Century Plyboards (India) (up 4.61%), V-Guard Industries (up 4.4%), Cera Sanitaryware (up 4%) and Havells India (up 3.26%) were the top gainers. Among the other gainers were Kajaria Ceramics (up 2.67%), Amber Enterprises India (up 2.65%), Rajesh Exports (up 2.43%), Bata India (up 2.42%) and Dixon Technologies (India) (up 1.91%) advanced.

Stocks in Spotligh:

Bajaj Finserv declined 1.70%. The company has signed Share Purchase Agreements (SPAs) to acquire Allianz SE's 26% stake in Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC), gaining full ownership.

Life Insurance Corporation of India (LIC) rose 1.13% after companys board has approved the appointment of Shatmanyu Shrivastava as chief risk officer (CRO), with effect from 19 March 2025.

Shilpa Medicare soared 9.70% after the companys wholly owned subsidiary, Shilpa Biologicals, inked a strategic partnership with Switzerland-based mAbTree Biologics AG to co-develop and manufacture a novel immuno-oncology therapy.

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