At 12:30 IST, the barometer index, the S&P BSE Sensex, climbed 1,007.70 points or 1.30% to 78,346.71. The Nifty 50 index soared 293.40 points or 1.25% to 23,747.20.
In the broader market, the S&P BSE Mid-Cap index rallied 1.72% and the S&P BSE Small-Cap index jumped 1.80%.
The market breadth was strong. On the BSE, 2,862 shares rose and 942 shares fell. A total of 120 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 5.35% to 14.36. The Nifty 28 November 2024 futures were trading at 23,816.35, at a premium of 69.15 points as compared with the spot at 23,747.20.
The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 42.01 lakh contracts at the 24,000 strike price. Maximum Put OI of 53.8 lakh contracts were seen at 23,000 strike price.
Buzzing Index:
The Nifty Auto index added 2.33% to 23,581.15. The index rallied 3.58% in the three consecutive trading sessions.
Mahindra & Mahindra (up 3.63%), Apollo Tyres (up 3.29%), Exide Industries (up 3.16%), Bharat Forge (up 3.05%) and Bosch (up 2.9%), Tata Motors (up 2.73%), Eicher Motors (up 2.55%), Hero MotoCorp (up 2.42%), Samvardhana Motherson International (up 2.17%) and TVS Motor Company (up 2.01%) advanced.
Stocks in Spotlight :
Shilpa Medicare rallied 3.77% after the company’s 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Octreotide.
Meanwhile, Shilpa Pharma Lifesciences also received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Nifedipine.
V-Mart Retail rose 0.85%. The company informed that a fire accident occurred at one of its stores located in Ahmedabad, Gujarat, on Monday, 18 November 2024.
Easy Trip Planners added 2.27% after the company’s board fixed Thursday, 8 November 2024 as the record date for the proposed bonus issue of equity shares. On 14 October 2024, the company’s board had approved the issuance of one bonus equity share for every one fully paid-up equity share held by shareholders (1:1) as on record date.