Market Commentary - Mid-Session
13-Mar-2025 12:22
Sensex, Nifty pare gains; auto shares slide
At 12:29 IST, the barometer index, the S&P BSE Sensex, shed 53.46 points or 0.07% to 73,976.30. The Nifty 50 index fell 33.45 points or 0.15% to 22,437.05.
The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index shed 0.25% and the S&P BSE Small-Cap index declined 0.31%.
The market breadth was negative. On the BSE, 1,870 shares rose and 2,098 shares fell. A total of 160 shares were unchanged.
Economy:
India's retail inflation eased to a seven-month low of 3.61% in February 2025, down from 4.31% in January, as food price pressures softened, according to government data released on Wednesday. This brings inflation below the Reserve Bank of India's (RBI) medium-term target of 4% for the first time since August 2024.
Meanwhile, India's industrial output growth picked up to 5% year-on-year in January 2025, compared to 3.2% in December 2024.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.39% to 13.37. The Nifty 27 March 2025 futures were trading at 22,485.05, at a premium of 48 points as compared with the spot at 22,437.05.
The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 61.6 lakh contracts at the 23,000 strike price. Maximum put OI of 81.1 lakh contracts was seen at 22,000 strike price.
Buzzing Index:
The Nifty Auto index shed 0.85% to 20,607.70. The index rose 0.49% in the past trading sessions.
Bharat Forge (down 3.88%), Samvardhana Motherson International (down 2.03%), Tata Motors (down 1.84%), MRF (down 1.21%), Bosch (down 1.21%), Hero MotoCorp (down 1.2%), Mahindra & Mahindra (down 1.18%), Exide Industries (down 0.94%), Apollo Tyres (down 0.91%) and Balkrishna Industries (down 0.76%) declined.
Stocks in Spotlight:
BEML rallied 2.64% after the company announced it has signed two memorandums of understanding (MoUs) to expand its presence in the rail and dredging sectors.
Larsen & Toubro (L&T) rose 0.69%. The company announced that its joint venture secured a 'large' order to build a desalination plant in Saudi Arabia.
Polycab India rose 0.49%. The company said that it has executed an agreement with Bharat Sanchar Nigam (BSNL) as the project implementation agency (PIA) for the Amended BharatNet Program.
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