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PSU Bank stocks extended their rally for the second consecutive trading session
At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 1,637.58 points or 2.12% to 78,938.88. The Nifty 50 index surged 473.95 points or 1.97% to 24,433.85.
In the broader market, the BSE 150 MidCap Index gained 1.82% and the BSE 250 SmallCap Index added 1.15%.
The market breadth was strong. On the BSE, 2,668 shares rose and 810 shares fell. A total of 98 shares were unchanged.
In the commodities market, Brent crude for December 2026 settlement declined 49 cents or 0.52% to $94.13 a barrel.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.19% to 15.22. The Nifty November 2026 futures were trading at 24,482.80 at a premium of 48.95 points as compared with the spot at 24,433.85.
The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 53.1 lakh contracts at the 23,500 strike price. A maximum put OI of 73.9 lakh contracts was seen at the 23,000 strike price.
Buzzing Index:
The Nifty PSU Bank index jumped 2.72% to 8,527.90. The index surged 3.48% in the two consecutive trading sessions.
Bank of Maharashtra (up 5.33%), UCO Bank (up 3.79%), Canara Bank (up 3.45%), Indian Bank (up 3.37%), Punjab & Sind Bank (up 3.21%), Bank of India (up 2.99%), Punjab National Bank (up 2.58%), Union Bank of India (up 2.32%), Central Bank of India (up 2.14%) and Indian Overseas Bank (up 2.07%) surged.
Media shares climbed after declining in the past five trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 225.27 points or 0.30% to 73,383.18. The Nifty 50 index fell 37.30 points or 0.14% to 22,718.30.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 0.66% and the BSE 250 SmallCap Index rose 1.23%.
The market breadth was strong. On the BSE, 2,678 shares rose and 1,016 shares fell. A total of 239 shares were unchanged.
Earnings Today:
Larsen & Toubro (up 0.98%), Maruti Suzuki India(up 1.61%), SBI Life Insurance Company(up 0.21%), Bajaj Auto(up 1.71%), Cipla (up 1.11%), ACC (down 1.33%), Concord Biotech(up 1.05%), Indus Towers, (down 0.85%), JSW Cement(up 0.51%), JSW Infrastructure(up 0.61%), Jubilant Ingrevia (up 2.76%), Mazagon Dock Shipbuilders, (up 1.67%), Radico Khaitan(up 1.49%), Raymond (up 2.99%), Tata Capital (up 0.25%) and United Breweries (down 0.15%) will declare their results later today.
The Nifty Media index jumped 3.60% to 1,614.20. The index declined 5.47% in the past five trading sessions.
Sun TV Network (up 6.21%), Network 18 Media & Investments (up 4.92%), Prime Focus (up 4.12%), PVR Inox (up 3.88%), D B Corp (up 2.49%), Tips Music (up 2.16%), Saregama India (up 1.32%), MPS (up 1.14%), Nazara Technologies (up 1.09%) and Zee Entertainment Enterprises (up 1.03%) surged.
Stocks in Spotlight:
Avantel advanced 2.65% after the company reported a 59.56% year-on-year (YoY) increase in consolidated net profit to Rs 6.81 crore in Q2 FY27, compared with Rs 4.27 crore in Q2 FY26. Revenue from operations rose 34.29% YoY to Rs 74.42 crore in Q2 FY27 from Rs 55.42 crore in Q2 FY26.
Bank of Maharashtra rose 0.72% after the company reported a 41.42% year-on-year (YoY) jump in standalone net profit to Rs 2,309.59 crore for the quarter ended 30 September 2026 (Q2 FY27), compared with Rs 1,633.14 crore in Q2 FY26. Total income climbed 22.10% YoY to Rs 9,735.41 crore in Q2 FY27 from Rs 7,973.61 crore in Q2 FY26.
Bank of Maharashtra gained for a third straight session today. The stock is quoting at Rs 82.76, up 2.43% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.24% on the day, quoting at 23325.6. The Sensex is at 74505.4, up 0.26%. Bank of Maharashtra has gained around 3.68% in last one month.
Meanwhile, Nifty PSU Bank index of which Bank of Maharashtra is a constituent, has gained around 3.65% in last one month and is currently quoting at 8262.8, up 0.49% on the day. The volume in the stock stood at 102.68 lakh shares today, compared to the daily average of 173.36 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 83.12, up 2.21% on the day. Bank of Maharashtra is up 44.38% in last one year as compared to a 7.9% slide in NIFTY and a 12.24% slide in the Nifty PSU Bank index.
The PE of the stock is 8.35 based on TTM earnings ending June 26.
PSU bank stocks declined after advancing for two consecutive trading sessions.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 258.39 points or 0.33% to 77,222.74. The Nifty 50 index fell 55.80 points or 0.24% to 24,149.30.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index shed 0.08% and the BSE 250 SmallCap Index fell 0.02%.
The market breadth was negative. On the BSE, 1,766 shares rose and 2,284 shares fell. A total of 236 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.84% to 11.18. The Nifty 29 September 2026 futures were trading at 24,310, at a premium of 160.7 points as compared with the spot at 24,149.30.
The Nifty option chain for the 29 Spetmber 2026 expiry showed a maximum call OI of 56.4 lakh contracts at the 25,000 strike price. A maximum put OI of 55.5 lakh contracts was seen at the 24,000 strike price.
The Nifty PSU Bank index declined 0.51% to 8,625.65. The index jumped 1.52% in the past two consecutive trading sessions.
Bank of Maharashtra (down 1.34%), UCO Bank (down 0.65%), Central Bank of India (down 0.42%), Canara Bank (down 0.42%), State Bank of India (SBI) (down 0.41%), Bank of Baroda (down 0.33%), Punjab National Bank (down 0.32%), Indian Overseas Bank (down 0.27%), Union Bank of India (down 0.26%) and Bank of India (down 0.24%) declined.
Skipper advanced 2.50% after the company announced that it has secured fresh orders worth Rs 1,305 crore for several domestic and international transmission and distribution (T&D) projects.
Capacite Infraprojects declined 1.59%. The company said that it has received a letter of intent (LOI) amounting to Rs 741 crore from Mahindra Lifespace Developers. The LOI is for undertaking the construction of core and shell work of Mahindra Rainforest at Kanjurmarg and Mahindra Beacon Hill at Mahalaxmi.
ACME Solar Holdings shed 0.94%. The company announced that it has secured Rs 1,571 crore in long-term project funding from India Infrastructure Finance Company (IIFCL) for the construction and development of its 300 MW assured peak power project in Rajasthan.
Bank of Maharashtra gained for a third straight session today. The stock is quoting at Rs 86.07, up 5.35% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.23% on the day, quoting at 24277.5. The Sensex is at 77655.51, down 0%. Bank of Maharashtra has gained around 6.75% in last one month.
Meanwhile, Nifty PSU Bank index of which Bank of Maharashtra is a constituent, has gained around 3.97% in last one month and is currently quoting at 8603.65, up 1.08% on the day. The volume in the stock stood at 445.78 lakh shares today, compared to the daily average of 104.81 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 86.97, up 5.83% on the day. Bank of Maharashtra is up 63.85% in last one year as compared to a 0.91% slide in NIFTY and a 28.29% slide in the Nifty PSU Bank index.
The PE of the stock is 8.44 based on TTM earnings ending June 26.
The exchange said the introduction of the contracts is based on the stock selection criteria prescribed by the Securities and Exchange Board of India (SEBI) and the regulator's approval.
NSE said the market lot and strike price scheme for the three securities will be announced through a separate circular on 25 August 2026. Details of the applicable quantity freeze will also be made available in the contract file before trading commences.