Midday markets: Nifty and Sensex rise; Adani, Axis Bank lead

The NSE Nifty was up by 0.35 per cent or 79.90 points at 22,677.70, while the BSE Sensex was at 74,640 up by 0.57 per cent or 419 points at mid-session on Thursday. Of a total of 3,792 stocks that were actively traded, 1,866 advanced, while 1,773 declined and 153 stocks remained unchanged, where 179 stocks hit a 52-week high and 25 stocks hit a 52-week low at 12 pm on the BSE.

The NSE Nifty was up by 0.35 per cent or 79.90 points at 22,677.70, while the BSE Sensex was at 74,640 up by 0.57 per cent or 419 points at mid-session on Thursday. Of a total of 3,792 stocks that were actively traded, 1,866 advanced, while 1,773 declined and 153 stocks remained unchanged, where 179 stocks hit a 52-week high and 25 stocks hit a 52-week low at 12 pm on the BSE.

Shrey Jain, Founder and CEO, SAS Online, India’s Deep Discount Broker, said, “Domestic indices NSE Nifty 50 and BSE Sensex are expected to trade range-bound today, influenced by negative global sentiment and continuous selling by Foreign Institutional Investors (FIIs). On the Nifty, the 22,800 call strike shows significant open interest (OI) of approximately 60 lakh shares, while the 22,500 put strike holds substantial OI of about 78 lakh shares. Support for the day is anticipated between the 22,400 and 22,500 levels, with resistance expected between the 22,700 and 22,800 levels.

In Bank Nifty, the 48,000 call strike has meaningful OI of around 22 lakh shares, while the 48,000 put strike holds a sizeable OI of about 16 lakh shares. The daily range for Bank Nifty is projected at between 47,500 and 48,200 levels. Overall, the medium-to-long-term outlook for the domestic market remains strong.

Major gainers on the NSE at 12 noon include, Adani Enterprises (3.04%), Axis Bank (2.98%), L&T (2.72%), Eicher Motors (1.74%), SBI (1.62%). Major losers include, Power Grid (-3.53%), Sun Pharma (-3.13%), Hindalco (-2.02%), Coal India (-1.53%), Grasim Industries (-1.10%).

BSE Smallcap was up by 0.23 per cent and BSE Midcap was up by 0.42 per cent, indicating gains. Top losers among the Nifty metal stocks include Hindustan Zinc (-7.30%), Vedanta (-4.27%), National Aluminium (-3.16%), NMDC (-3.09%).

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