Sensex down 320 points; Nifty holds 17,600 level

Indices hit a fresh intraday low amid selling pressure in mid afternoon trade. The Nifty traded just above the 17,600 mark. At 14:30 IST, the barometer index, the S&P BSE Sensex, was at 59,093.12, down 320 points or 0.54%. The Nifty 50 index traded 106.9 points or 0.6% lower at 17,604.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.07% while the S&P BSE Small-Cap index rose 0.4%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1787 shares rose and 1412 shares fell. A total of 172 shares were unchanged.

Trading could be volatile today traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contracts expires today, 30 September 2021.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 233,231,373 with 4,773,860 deaths. India reported 277,020 active cases of COVID-19 infection and 448,062 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India added 23,529 new cases. Active cases accounted for less than 1% of total cases, currently at 0.82%. Active caseload stands at 2,77,020; lowest in 195 days. The recovery rate currently stands at 97.85%.

Broader market gainers:

Aditya Birla Fashion Retail (up 5.3%), Tata Power (up 5%), Vodafone Idea (up 4.89%), Indian Bank (up 3.69%) and Canara Bank (up 3.66%) were top gainers in Mid Cap space.

Indian Overseas Bank (Up 12%), Central Bank of India (up 9.43%), Bank of Maharashtra (up 6.9%), Sequent Scientific (up 6.74%) and Tanla (up 5%) were top gainers in Small Cap space.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 74.25 from its previous closing of 74.1475.

MCX Gold futures for 5 October 2021 settlement rose 0.17% to Rs 45,662.

The yield on India's 10-year benchmark federal paper (06.10 GS 2031) rose to 6.208%, compared with 6.206% at close in the previous trading session.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 94.308.

In the commodities market, Brent crude for November 2021 settlement rose 36 cents or 0.46% to $78.45 a barrel.

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