Mid-day updates: Nifty and Sensex inch higher amid mixed market performance

The NSE Nifty rose by 0.16% (36.20 points) to 22,565.25, while the BSE Sensex increased by 0.17% (128.61 points) to 74,081 at 3:01 p.m. A total of 3,835 stocks were actively traded, 1,799 advanced, while 1,893 declined and 143 stocks remained unchanged where 227 stocks hit a 52 week high and 25 stocks hit a 52 week low at 12.50 pm on the BSE.

The NSE Nifty rose by 0.16% (36.20 points) to 22,565.25, while the BSE Sensex increased by 0.17% (128.61 points) to 74,081 at 3:01 p.m. A total of 3,835 stocks were actively traded, 1,799 advanced, while 1,893 declined and 143 stocks remained unchanged where 227 stocks hit a 52 week high and 25 stocks hit a 52 week low at 12.50 pm on the BSE.

Shrey Jain, Founder and CEO SAS Online, India’s Deep Discount Broker, said, “Indian equity markets indicate that the BSE Sensex and NSE Nifty 50 may trade on a subdued note today .The big question is whether Nifty will break out of consolidation and move higher. It has now reached the 22,570–22,600 zone. Today, substantial Put writing across multiple strikes indicates limited downside potential, while resistance is likely at the 22,700 level.

For today’s weekly expiry, significant open interest (OI) at the 48,000 Call and Put levels suggests potential consolidation around the current levels in the Bank Nifty. The 48,000 Call strike has an OI of approximately 3.7 million shares, while the 48,000 Put strike has an OI of around 3.2 million shares.

Top gainers on the NSE include, Hindustan Unilever (2.42%), Britannia (2.32%), Tata Consumers (1.99%), Coal India (1.93%), Reliance (1.66%). Major losers include, BPCL (-1.71%), Hero Motocorp (-1.66%), Hindalco (-1.51%), Apollo Hospitals (-1.48%), Sun Pharma (-1.40%)

BSE Smallcap was down by 0.17 per cent and Midcap down by 0.20 per cent.

Major stocks that hit a 52-week high on the NSE are BEML (10.73%), Alicon (10.04%), HBSL (9.95%), HG Infra (9.74%)

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