The headline equity indices traded with substantial gains in the mid-morning trade, as buying in blue-chip stocks lifted investor sentiment. The Nifty traded above the 23,250 mark. Consumer durables shares advanced after declining in the past two consecutive trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex, jumped 453.71 points or 0.60% to 76,478.36. The Nifty 50 index added 111.40 points or 0.48% to 23,277.10.
In the broader market, the S&P BSE Mid-Cap index rose 0.94% and the S&P BSE Small-Cap index added 0.66%.
The market breadth was strong. On the BSE, 2,619 shares rose and 1,099 shares fell. A total of 177 shares were unchanged.
Economy:
India's manufacturing sector growth recovered the ground lost in February, picking up to its highest in eight months as a faster upturn in total sales underpinned a sharper increase in output. March's acceleration came despite a mild slowdown in international order growth. Buoyant demand led companies to tap into their inventories to meet increased client appetite, resulting in the most rapid decline in finished goods stocks since January 2022. Firms aimed to counter declining stock levels by acquiring additional inputs for their production processes at the quickest pace seen in seven months.
Meanwhile, a stronger increase in purchase prices contrasted with a softer rise in selling charges. Registering 58.1 in March, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was up from 56.3 in February to its highest mark in eight months. The latest reading showed a substantial improvement in the health of the sector that was above its long-run average.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.97% to 13.65. The Nifty 24 April 2025 futures were trading at 23,415.35 at a premium of 138.25 points as compared with the spot at 23,277.10.
The Nifty option chain for the 24 April 2025 expiry showed a maximum call OI of 42.6 lakh contracts at the 23,500 strike price. Maximum put OI of 47.7 lakh contracts was seen at 23,500 strike price.
Buzzing Index:
The Nifty Consumer Durables index jumped 1.41% to 35,251.05. The index fell 2.97% in the past two consecutive trading sessions.
Kalyan Jewellers India (up 6.78%), Dixon Technologies (India) (up 2.31%), Titan Company (up 1.93%), Amber Enterprises India (up 1.61%), Whirlpool of India (up 1.53%), Blue Star (up 1.19%), V-Guard Industries (up 0.87%), Century Plyboards (India) (up 0.65%), Bata India (up 0.35%) and Cera Sanitaryware (up 0.33%) advanced.
On the other hand, Kajaria Ceramics (down 2.18%), Crompton Greaves Consumer Electricals (down 1.85%) and PG Electroplast (down 0.51%) edged lower.
Stocks in Spotlight:
SJVN added 1.48% after the company announced that its wholly owned subsidiary, SJVN Green Energy (SGEL), has successfully completed the trial run of 241.77 MW capacity in Phase I of the 1,000 MW Bikaner Solar Power Project.
Sandhar Technologies rallied 3.75% after the company said that its wholly-owned subsidiary, Sandhar Ascast, has acquired Sundaram-Clayton's 'high-pressure and low-pressure aluminum die casting' business at its Hosur plant.
NMDC rose 0.17%. The company has reported a 26.95% decline in iron ore production in March 2025 to 3.55 million tonnes (MT), compared to 4.86 MT recorded in the same month of the previous year.
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