Mid Session

The key equity indices traded with minor gains in early afternoon trade. The Nifty marched above the 19,750 mark. Bank shares snapped its three days declining streak.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 149.04 points or 0.23% to 66,379.28. The Nifty 50 index added 33.70 points or 0.17% to 19,776.05.

In the broader market, the S&P BSE Mid-Cap index fell 0.01% while the S&P BSE Small-Cap index declined 0.18%.

The market breadth was positive. On the BSE, 1,848 shares rose and 1,614 shares fell. A total of 195 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.93% to 10.50. The Nifty 28 September 2023 futures were trading at 19,812.05, at a premium of 36 points as compared with the spot at 19,776.05.

The Nifty option chain for the 28 September 2023 expiry showed maximum Call OI of 114.6 lakh contracts at the 19,800 strike price. Maximum Put OI of 106.5 lakh contracts were seen at 19,000 strike price.

Buzzing Index:

The Nifty Bank index rose 0.78% to 44,970.55. The index slipped 3.48% in three trading sessions.

Bank of Baroda (up 5.07%), IndusInd Bank (up 2.92%), Punjab National Bank (up 2.53%), State Bank of India (up 2.22%), Bandhan Bank (up 2.16%), Axis Bank (up 1.13%), Federal Bank (up 0.96%), AU Small Finance Bank (up 0.75%), IDFC First Bank (up 0.54%) and Kotak Mahindra Bank (up 0.21%) edged higher.

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