Sensex, Nifty turn rangebound; auto stocks tumble

The domestic equity barometers traded in a narrow range with significant cuts in early afternoon trade. The Nifty held the 15,550 mark. Auto stocks declined for third consecutive session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 377.81 points or 0.72% to 51,945.52. The Nifty 50 index lost 128.45 points or 0.82% to 15,562.95.

In the broader market, the S&P BSE Mid-Cap index fell 1.42% while the S&P BSE Small-Cap index declined 1.69%.

The market breadth favored the sellers. On the BSE, 729 shares rose and 2330 shares fell. A total of 133 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 177,372,117 with 3,840,704 global deaths.

India reported 798,656 active cases of COVID-19 infection and 383,490 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 2.64% to 15.69. The Nifty 24 June 2021 futures were trading at 15,565, at a premium of 2.05 points as compared with the spot at 15,562.95.

The Nifty option chain for 24 June 2021 expiry showed maximum Call OI of 62 lakh contracts at the 15,700 strike price. Maximum Put OI of 43.5 lakh contracts was seen at 15,500 strike price.

Buzzing Index:

The Nifty Auto index fell 1.35% to 10,381.25. The index has declined 3.47% in three sessions.

Ashok Leyland (down 4.50%), Tata Motors (down 3.08%), Mahindra & Mahindra (down 2.06%), Bharat Forge (down 1.66%), Maruti Suzuki (down 0.95%), Hero MotoCorp (down 0.93%) and TVS Motor Company (down 0.64%) declined.

Bajaj Auto (up 1.43%) and Eicher Motors (up 0.63%) advanced.

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