At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 515.02 points or 0.69% to 75,970.38. The Nifty 50 index jumped 166.85 points or 0.73% to 23,074.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.65% and the S&P BSE Small-Cap index added 0.62%.

The market breadth was strong. On the BSE, 2,474 shares rose and 1,373 shares fell. A total of 154 shares were unchanged.

Economy:

The RBI March Bulletin states that the Indian economy continues to demonstrate resilience in this turbulent global environment, as the growth momentum is supported by robust sectoral performance and improving consumption trends.

The Second Advance Estimates (SAE) released by the National Statistics Office (NSO) project a steady 6.5 per cent growth for 2024-25. The latest quarterly data further underscores this strength, with real GDP expanding by 6.2 per cent in Q3:2024-25, shaking off the sluggishness of the previous quarter.

Private consumption expenditure is on an upward trajectory, signalling strong consumer confidence and sustained demand. Government spending has picked up significantly in recent months, providing a further fillip to growth.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.96% to 13.34. The Nifty 27 March 2025 futures were trading at 23,113, at a premium of 38.55 points as compared with the spot at 23,074.45.

The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 67.3 lakh contracts at the 24,000 strike price. Maximum put OI of 88.3 lakh contracts was seen at 22,000 strike price.

Buzzing Index:

The Nifty Auto index advanced 1.42% to 21,622.75. The index jumped 5.2% in the four trading sessions.

Bharat Forge (up 4.3%), Eicher Motors (up 2.88%), Bajaj Auto (up 2.45%), Hero MotoCorp (up 2.26%) and Mahindra & Mahindra (up 1.59%), Exide Industries (up 1.41%), MRF (up 1.18%), Ashok Leyland (up 0.96%), TVS Motor Company (up 0.81%) and Maruti Suzuki India (up 0.5%) advanced.

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