Mid-market update: Nifty50 hits century led by banking and financial stocks, BSE Ltd logs sharpest single-day fall
Upstox
2 min read • Updated: April 29, 2024, 12:19 PM
Summary
In Monday’s trading session, the benchmark indices are showing outperformance with mid and small-cap index trading in the negative territory. BSE ltd shares plunge after SEBI revises options turnover fees
During the mid-afternoon session on Monday, the benchmark indices were trading with solid gains. The NSE NIFTY 50 and the 30-share BSE SENSEX were up by 0.55% and 0.79%, respectively. After opening higher, the market faced profit booking. However, it was restricted as the Nifty 50 index took support around the 20-DMA and bounced back to trade near the day’s high. Further, BankNifty was up by 518 points or 1.07% to 48,719.05 from its previous closing.
The Nifty 50 index was seen trading within the range of Friday’s trading session and massive open interest (OI) build-up was seen at the 22,500 strike price of put option. Hence, the level of 22,500 is likely to act as immediate support for the index.
The market breadth was titled in favour of advances with 1,408 stocks advancing, 993 stocks declining and 128 stocks remaining unchanged.
On Wall Street, Dow Jones futures rose by 107 points or 0.28% to 38,548.00.
The frontline indices were seen outperforming the broader markets. The Nifty Midcap was trading flat with a slight gain of 0.10% while the Nifty Smallcap index was trading marginally higher by 0.23%.
Sector-wise, the top-performing sectoral indices during the mid-day were Nifty Bank (+1.07%), Nifty Private Bank (+1.11%) and Nifty Financial Services (+1.05%). On the other hand, Nifty Realty, Nifty Auto and Nifty Healthcare were seen trading in red.
Some of the stocks in action during the mid-afternoon session were Supreme Industries Ltd and BSE Ltd.
Shares of Supreme Industries Ltd zoomed 9.65% in Monday’s session to trade at ₹4,757 over its previous close of ₹4,338.45. Today, the intraday high and low of Supreme Industries was ₹4,760 and ₹4,467.30, respectively. The stock rallied on the back of strong financial performance for the quarter ending on March 31, 2024, with net profit rising 16% to ₹3007.9 crore.
Shares of BSE Ltd registered its sharpest single-day fall in history as the stock tumbled more than 12%. The regulator instructed BSE to pay almost ₹165 crore in fees and interest. It has been asked to calculate fees based on annual turnover considering notional value for options contracts.