Benchmarks trade higher; PSU Bank shares climb

The key equity indices continued to trade with strong gains in early afternoon trade on Thursday. Sentiment improved as Brent crude prices declined amid encouraging signs of renewed diplomatic efforts with Iran, boosting investor optimism. The Nifty traded above 22,800 mark.

PSU Bank shares witnessed buying interest for four consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 592.29 points or 0.81% to 73,838.82. The Nifty 50 index rose 156.95 points or 0.69% to 22,847.40.

In the broader market, the Nifty MidCap 150 Index rose 0.24% and the BSE 250 SmallCap Index added 0.26%.

The market breadth was positive. On the NSE, 1,896 shares rose and 1,497 shares fell. A total of 124 shares were unchanged.

Brent crude for the December 2026 settlement declined $1.02 or 0.88% to $114.30 a barrel.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.63% to 15.66. The Nifty 23 November 2026 futures were trading at 22,949.80 at a premium of 102.4 points as compared with the spot at 22,847.40.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 73.7 lakh contracts at the 23,500 strike price. A maximum put OI of 59.7 lakh contracts was seen at the 23,000 strike price.

Buzzing Index:

The Nifty PSU Bank index jumped 1.23% to 8,233.55. The index climbed 2.02% in the four consecutive trading sessions.

Indian Bank (up 1.92%), Punjab National Bank (up 1.7%), Bank of Baroda (up 1.58%), Bank of India (up 1.5%), Punjab & Sind Bank (up 1.28%), Union Bank of India (up 1.04%), Canara Bank (up 1%), Indian Overseas Bank (up 0.79%), Central Bank of India (up 0.66%) and State Bank of India (up 0.64%) surged.

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