The key equity indices were currently at the day's high as they traded with strong gains in early afternoon trade. The Nifty traded above the 17,500 mark. Metal stocks witnessed significant buying.
At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 423.03 points or 0.72% to 58,810.96. The Nifty 50 index gained 116.50 points or 0.67% to 17,514.
In the broader market, the S&P BSE Mid-Cap index rose 0.30% while the S&P BSE Small-Cap index gained 0.37%.
The market breadth was positive. On the BSE, 1,954 shares rose and 1,401 shares fell. A total of 174 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 3.09% to 19.50. The Nifty 25 August 2022 futures were trading at 17,556.10, at a premium of 42.1 points as compared with the spot at 17,514.
The Nifty option chain for the 25 August 2022 expiry showed maximum Call OI of 22.7 lakh contracts at the 18,000 strike price. Maximum Put OI of 23.2 lakh contracts were seen at 16,500 strike price.
Buzzing Index:
The Nifty Metal index advanced 0.98% to 5,650.45. The index had declined 0.44% to end at 5,595.85 on Friday.
Welspun Corp (up 2.79%), Hindalco Industries (up 2.46%), Adani Enterprises (up 1.61%), Vedanta (up 1.38%) and Steel Authority of India (up 1.16%) were the top gainers.
Among the other gainers were Jindal Steel & Power (up 1.13%), MOIL (up 1.12%), National Aluminium Company (up 0.97%), Hindustan Copper (up 0.91%) and JSW Steel (up 0.73%).
On the other hand, APL Apollo Tubes (down 1.67%), Ratnamani Metals & Tubes (down 0.46%) and Jindal Stainless (down 0.09%) moved lower.
Stocks in Spotlight:
Mahanagar Gas rose 3.74%. The company reported 9.25% fall in net profit to Rs 185.20 crore despite a 136.36% jump in net revenue from operations to Rs 1,454.75 crore in Q1 FY23 over Q1 FY22.
Nitin Spinners fell 3.39%. The company's standalone net profit rose 9.3% to Rs 65.58 crore on 28% jump in net sales to Rs 708.83 crore in Q1 FY23 over Q1 FY22.
Advanced Enzyme Technologies slipped 4.49%. The company's consolidated profit after tax de-grew by 56% to Rs 17.6 crore during Q1 FY23 compared with Rs 39.7 crore during the Q1 FY22. Revenue from operations on consolidated basis decreased to Rs 121.1 crore in the Q1 FY23 from Rs 137 crore in the Q1 FY22, declining by 12% on y-o-y basis and 8% on q-o-q basis.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app