At 12:29 IST, the barometer index, the S&P BSE Sensex gained 569.83 points or 0.70% to 81,526.16. The Nifty 50 index added 138.10 points or 0.56% to 24,605.55.

In the broader market, the S&P BSE Mid-Cap index advanced 0.04% and the S&P BSE Small-Cap index added 0.10%.

The market breadth was positive. On the BSE, 2,037 shares rose and 1,785 shares fell. A total of 156 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.58% to 15.26. The Nifty 26 December 2024 futures were trading at 24,689.35, at a premium of 120.2 points as compared with the spot at 24,485.35.

The Nifty option chain for the 26 December 2024 expiry showed maximum Call OI of 185.2 lakh contracts at the 25,000 strike price. Maximum Put OI of 165.3 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty IT index rose 0.86% to 44,326.50. The index rallied 3.16% in four consecutive trading sessions.

Persistent Systems (up 1.61%), Coforge (up 0.84%), LTIMindtree (up 0.84%), L&T Technology Services (up 0.42%), Tata Consultancy Services (up 0.27%), Tech Mahindra (up 0.25%), Mphasis (up 0.18%), Infosys (up 0.18%), Wipro (up 0.03%) advanced.

On the other hand, HCL Technologies (down 0.4%) edged lower.

Stocks in Spotlight:

Technopack Polymers hit an upper limit of 20% at Rs 81.60 after the company's board approved a bonus share issue in a 1:1 ratio.

Bharat Forge declined 0.17%. The company announced that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 1,323.54 per share.

Vodafone Idea slipped 3.92%. The firm informed that its board is scheduled to meet on Monday, 9 December 2024, to consider a proposal for raising funds on a preferential basis not exceeding Rs 2,000 crore.