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Mid - Session

Market behaviours during the course of the trading session.

Indices trade with moderate gains; bank shares advance

20-Jan-25 12:31 Hrs IST

The key equity indices traded with significant gains in early afternoon trade. The Nifty traded above the 23,350 level after hitting the day's low of 23,170.65 in the morning trade. Bank shares rallied after declining in the past trading session.

At 12:28 IST, the barometer index, the S&P BSE Sensex, rallied 610.90 points or 0.80% to 77,230.23. The Nifty 50 index added 154.60 points or 0.67% to 23,357.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index gained 0.54%.

The market breadth was positive. On the BSE, 2,328 shares rose and 1,568 shares fell. A total of 189 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.95% to 16.37. The Nifty 30 January 2025 futures were trading at 23,389.90, at a premium of 93.15 points as compared with the spot at 23,992.55.

The Nifty option chain for the 30 January 2025 expiry showed a maximum call OI of 90.7 lakh contracts at the 24,000 strike price. Maximum put OI of 99.5 lakh contracts was seen at 22,000 strike price.

Buzzing Index:

The Nifty Bank index added 1.60% to 49,317.25. The index shed 1.50% in the past trading session.

Kotak Mahindra Bank (up 9.14%), State Bank of India (up 2.34%), Canara Bank (up 2.31%), Bank of Baroda (up 2.27%), Punjab National Bank (up 1.9%), IDFC First Bank (up 1.34%), HDFC Bank (up 0.97%), Federal Bank (up 0.75%), IndusInd Bank (up 0.56%) and AU Small Finance Bank (up 0.35%) advanced.

On the other hand, Axis Bank (down 0.73%) edged lower.

Stocks in Spotlight:

Gujarat Hotels jumped 8.65% after the company's standalone net profit soared 130.98% to Rs 1.64 crore in Q3 FY25 as against Rs 0.71 crore posted in Q3 FY24. Revenue from operations zoomed 100% to Rs 1.40 crore in the third quarter of FY25 as against Rs 0.70 crore recorded in the corresponding quarter last year.

Concord Enviro Systems surged 7.76% after the company's consolidated net profit jumped 39.52% to Rs 17.30 crore in Q2 FY25 as compared with Rs 12.40 crore posted in corresponding quarter last year. Revenue from operations increased 66.3% YoY to Rs 161.89 crore during the quarter.

Sigachi Industries rallied 2.37% after the company reported a 32.52% jump in consolidated net profit to Rs 21.35 crore in Q3 FY25 from Rs 16.11 crore posted in Q3 FY24. Revenue from operations grew by 25.66% to Rs 139.41 crore in Q3 FY25 from Rs 110.94 crore registered in Q3 FY24.