Nifty above 23,050; private bank shares advance

The key equity benchmarks traded with major gains in early afternoon trade. The Nifty traded above the 23,050 level. Private Bank shares extended gains for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex jumped 516.54 points or 0.70% to 74,666.51. The Nifty 50 index rose 156.80 points or 0.68% to 23,092.60.

The broader market underperformed the frontline indices. The Nifty MidCap 150 Index declined 0.50% and the Nifty SmallCap 250 Index fell 1.34%.

The market breadth was negative. On the BSE, 1,423 shares rose and 2,641 shares fell. A total of 240 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.83% to 15.40. The Nifty 23 November 2026 futures were trading at 23,149.80 at a premium of 57.2 points as compared with the spot at 23,092.60.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 68.9 crore contracts at the 23,500 strike price. A maximum put OI of 63.4 crore contracts was seen at the 23,000 strike price.

Buzzing Index:

The Nifty Private Bank index added 0.33% to 27,142.10. The index jumped 2.1% in the three consecutive trading sessions.

HDFC Bank (up 1.32%), ICICI Bank (up 1.07%) and Kotak Mahindra Bank (up 0.29%) rose.

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