Live: Sensex, Nifty Hold Gains; Metals Index Top Performer
F&O Snapshot This Expiry Week
- Nifty May futures add 12.3% and 9.1 lakh shares in Open Interest
- Nifty Bank May futures add 10.2% and 1.8 lakh shares in Open Interest
Nifty: May 28 Expiry
- 9,000 Put: Premium falls 67.4% to Rs 33.8. The contract has added 6.2 lakh shares in Open Interest.
- 9,200 Call: Premium up 10.9% to Rs 53.4. The contract has added 9.22 lakh shares in Open Interest.
- 9,100 Put: Premium falls 58.4% to Rs 64.6. The contract has added 13.7 lakh shares in Open Interest.
Nifty Bank: May 28 Expiry
- 18,000 Call: Premium down 2.3% to Rs 132. The contract has added 2.73 lakh shares in Open Interest.
- 17,000 Put: Premium down 65.3% to Rs 98.8. The contract has added 2.72 lakh shares in Open Interest.
- 17,500 Put: Premium down 51.8% to Rs 260. The contract has added 2.47 lakh shares in Open Interest.
Earnings Reaction: Jindal Steel & Power
The steel and power returned to profitability, with a figure of Rs 406 crore as compared to a net loss of Rs 2,146 crore during the same period last year. Ebitda rose 20% while margins expanded to 25.2% from 18.1% during the same period last year.
The company also reduced its net debt by Rs 4,379 crore in FY20, on a constant currency basis.
The return to normalcy seems far right now - largely depending on how the contagion is further contained while at the same time ensuring economic growth & employment for people so that they start spending again.Statement From JSPL
The stock gained as much as 7.1% to Rs 103.5 and is the top performer on the Nifty Metal index.
Markets At 10:10 A.M.
- Benchmark indices trade near the day's high
- Nifty up 1% at 9,134
- Nifty futures trade at a premium of 11 points
- Sensex up 1% at 30,993
- Nifty Bank up 1.7% at 17,579
- Nifty Midcap Index up 0.7%
- Nifty Smallcap Index up 0.35%
- India Volatility Index down 2.8% to 31.47
- Nifty Media and Nifty Pharma indices give up gains to trade with losses
- Nifty Metal index is the top sectoral gainer; up 2.3%
- Nifty FMCG index also trades with gains of 2%
- JSW Steel is the top gainer on the Nifty; up 5.8%
- Bharti Airtel is the top laggard on the Nifty; down 3.8%
- 996 stocks on the NSE trade with gains while 600 decline
Money Market Update
The rupee opened with gains in this truncated week, tracking positive cues from the global equity markets.
The currency opened at 75.73 against the U.S. Dollar as compared to Friday's close of 75.97.
The rupee posted its third straight weekly loss on Friday. It was also the second worst performing currency among its Emerging Market peers on a weekly basis.
In the bond markets, traders will be looking forward to the state government debt sale of Rs 18,200 crore today.