Barometers trade with strong gains; private bank shares jump

The key equity benchmarks continued to trade with significant gains in the early afternoon trade, supported by sustained buying interest from foreign institutional investors (FIIs), which boosted overall market sentiment. Positive sentiment ahead of the Diwali celebrations and the ongoing festive season further underpinned the rally. The Nifty traded near the 24,700 level.

Private bank stocks extended their gains for fourth consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 657.47 points or 0.86% to 79,997.04. The Nifty 50 index rose 152.80 points or 0.61% to 24,693.55.

In the broader market, the Nifty MidCap 150 Index declined 1.26% and the Nifty SmallCap 250 Index fell 1.69%.

The market breadth was weak. On the NSE, 964 shares rose and 2,455 shares fell. A total of 113 shares were unchanged.

Buzzing Index:

The Nifty Private Bank index jumped 0.91% to 28,841.55. The index jumped 6.76% in the four consecutive trading sessions.

ICICI Bank (up 1.79%), HDFC Bank (up 1.48%), Kotak Mahindra Bank (up 1.11%), Axis Bank (up 0.28%) and Federal Bank (up 0.28%) were the top gainers. Among the other gainers were Yes Bank (up 0.18%) surged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 16.91% to 8.50. The Nifty November 2026 futures were trading at 24,702 at a premium of 8.45 points as compared with the spot at 24, 24,693.55.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 56.5 lakh contracts at the 23,500 strike price. A maximum put OI of 54.5 lakh contracts was seen at the 25,000 strike price.

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