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.
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