At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 158.79 points or 0.21% to 76,142.68. The Nifty 50 index rose 31.75 points or 0.14% to 22,977.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 1.23% and the S&P BSE Small-Cap index gained 2.35%.

The market breadth was strong. On the BSE, 2,805 shares rose and 1,005 shares fell. A total of 131 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 0.81% to 15.38. The Nifty 27 February 2025 futures were trading at 23,017.45, at a premium of 40.4 points as compared with the spot at 22,977.05.

The Nifty option chain for the 27 February 2025 expiry showed a maximum call OI of 70.3 lakh contracts at the 24,000 strike price. Maximum put OI of 64.7 lakh contracts was seen at 23,000 strike price.

Buzzing Index:

The Nifty PSU Bank index added 1.49% to 5,960.25. The index declined 0.54% in the past trading session.

Union Bank of India (up 4.21%), Bank of India (up 3.29%), UCO Bank (up 2.62%), Indian Overseas Bank (up 2.15%) and Punjab & Sind Bank (up 2.01%), Bank of Baroda (up 1.57%), Punjab National Bank (up 1.5%), Bank of Maharashtra (up 1.35%), Central Bank of India (up 1.22%) and Indian Bank (up 1.1%) advanced.

Stocks in Spotlight:

Container Corporation of India (CONCOR) added 2.37% after the company announced that it has awarded an Rs 689.76 crore contract to Braithwaite & Co. for the manufacture and supply of 30 BLSS (spine car) rakes on a turnkey basis.

RBM Infracon declined 7.04% after the company announced that it has received a multiple orders worth Rs 11.46 crore form different entities.

Transformers and Rectifiers (India) hit a upper circuit of 5% after the company announced that it has bagged an order worth Rs 166.45 crore from Hyosung T&D India.