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(16/09/2020 12:48)

Mid-Session: Indices trade in the green, Nifty around 11,550

Domestic bourses continued to trdae higher amid volatility during the noon trading session as the gains in auto stocks were offset by public sector banks, which were under pressure.

Lakshmi Vilas Bank share price jumped 10 percent after the bank said the mutual due diligence process for merger with Clix Group is substantially complete and both parties are in discussions on the next steps. Under the non-binding LOI, the proposed amalgamation is subject to completion of mutual due-diligence, regulatory and other customary approvals. As per the mutual understanding between parties, the exclusivity period was extended till September 15 due to the prevailing pandemic situation.

At 12:38 hours, the 30-share benchmark index was trading at 39114.84 up by 70.49 points or by 0.18 % and then NSE Nifty was at 11545.4 up by 23.6 points or by 0.2 %.

Sensex touched intraday high of 39217.02 and intraday low of 39037.96 The NSE Nifty touched intraday high of 11570.35 and intraday low of 11516.75

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 643.05,+4.80%), Bajaj Auto Ltd. (Rs. 3021.00,+2.72%), UltraTech Cement Ltd. (Rs. 3978.35,+1.20%), Sun Pharmaceutical Industries Ltd. (Rs. 512.00,+1.18%), Bajaj Finance Ltd. (Rs. 3550.30,+1.02%), among others.

The top losers of the BSE Sensex pack were IndusInd Bank Ltd. (Rs. 619.35,-2.23%), Axis Bank Ltd. (Rs. 441.80,-1.75%), ICICI Bank Ltd. (Rs. 365.55,-1.59%), State Bank of India (Rs. 197.05,-1.55%), Oil And Natural Gas Corporation Ltd. (Rs. 72.95,-1.08%), among others.

Among the sectors, Auto index was at 18484.89 up by 324.75 points or by 1.79%. Mahindra & Mahindra Ltd. (Rs. 643.05,+4.80%), TVS Motor Company Ltd. (Rs. 470.45,+3.30%), Tata Motors Ltd. (Rs. 152.60,+2.90%), Bajaj Auto Ltd. (Rs. 3020.35,+2.70%), Motherson Sumi Systems Ltd. (Rs. 123.25,+1.94%),.

Bankex index was at 25309.91 down by -231.66 points or by -0.91%. IndusInd Bank Ltd. (Rs. 619.35,-2.23%), Federal Bank Ltd. (Rs. 53.25,-1.84%), Axis Bank Ltd. (Rs. 441.80,-1.75%), ICICI Bank Ltd. (Rs. 365.55,-1.59%), State Bank of India (Rs. 197.05,-1.55%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2874 , shares advanced were 1344 while 1324 shares declined and 206 were unchanged.