Key indices further pared gains in early afternoon trade after an initial upmove. The Nifty was trading slightly above the 10,800 mark. Metal shares were trading higher. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 182.20 points or 0.5% at 36,776.53. The Nifty 50 index added 41.35 points or 0.38% at 10,809.40. In the broader market, the S&P BSE Mid-Cap index shed 0.01% while the S&P BSE Small-Cap index lost 0.05%. The market breadth was negative. On the BSE, 1066 shares rose and 1400 shares fell. A total of 176 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, was up 1.85% to 25.405. The Nifty July 2020 futures were trading at 10,827.10, at a premium of 17.7 points. On the weekly index options front, the Nifty option chain for 16 July 2020 expiry showed maximum Call Open Interest (OI) of 31.71 lakh contracts at the 11,000 strike price. Maximum Put OI of 28.02 lakh contracts was seen at 10,800 strike price. On the monthly index options front, the Nifty option chain for 30 July 2020 expiry showed maximum Call OI of 28.16 lakh contracts at the 11,500 strike price. Maximum Put OI of 34.67 lakh contracts was seen at 10,000 strike price. Buzzing Index: The Nifty Metal index rose 1.14% to 2,101.85. The index had lost 0.77% on Friday to end at 2,078.20. Among the index constituents, Hindustan Zinc (up 3.25%), Vedanta (up 2.58%), Hindalco Industries (up 2.44%), Jindal Steel & Power (up 1.89%), Hindustan Copper (up 1.80%), JSW Steel (up 1.78%), Tata Steel (up 1.06%), and NMDC (up 0.06%) advanced. MOIL (down 2.14%), Welspun Corp (down 1.43%), National Aluminum Company (down 1.37%) declined. Steel Authority of India (Sail) fell 1.35% to Rs 36.45. The company's consolidated net profit surged 382.9% to Rs 2,647.52 crore on 12.5% decline in net sales to Rs 16,171.83 crore in Q4 March 2020 over Q4 March 2019. In FY20, Sail made a turnover of Rs 61,024.88 crore. EBITDA per tonne of saleable steel improved to Rs 7,869 from Rs 7,284 in FY19. The company's EBITDA/turnover figure stood at 18.35% compared to 15.52%. Sail also achieved its best ever 14.23 million tonnes (MT) annual sales during FY20. Powered by Capital Market - Live News |