Sensex slides 183 pts, Nifty below 18,050

Barometers traded near the day's low with small losses in early afternoon trade. The Nifty traded below 18,050 level. At 12:29 IST, the barometer index, the S&P BSE Sensex, was down 183.77 points or 0.3% to 60,361.54. The Nifty 50 index fell 42.85 points or 0.24% to 18,025.55.

The broader indices outperformed the benchmarks. The S&P BSE Mid-Cap index gained 0.66% while the S&P BSE Small-Cap index added 0.68%.

The market breadth was positive. On the BSE, 1970 shares rose and 1228 shares fell. A total of 169 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.39% to 16.275. The Nifty 25 November 2021 futures were trading at 18,083, at a premium of 33 points as compared with the spot at 18,050.

The Nifty option chain for 25 November 2021 expiry showed maximum Call OI of 22 lakh contracts at the 19,000 strike price. Maximum Put OI of 23 lakh contracts was seen at 17,500 strike price.

Broader Market Gainers:

TVS Motor (up 9%), Tata Power (up 5.18%), Bharat Electronics (up 5.13%), Indian Hotels (up 3.94%) and Sona BLW precision (up 2.76%) were top gainers in Mid Cap space.

Birlasoft (up 5.72%), EID Parry (up 4.24%), Indiabulls Housing Finance (up 3.99%), Laxmi Organics (up 3.87%) and Prince Pipes & Fittings (up 3.69%) were top gainers in Small cap space.

Stocks in Spotlight:

Praj Industries gained 1.27% after the company said that it has inked an MoU with Indian Oil Corporation for exploring avenues in the Biofuels industry. The avenues include the production of Alcohol to Jet (ATJ) fuels, 1G & 2G Ethanol, Compressed Bio-Gas (CBG) and related opportunities. The Indian Aviation sector is at the cusp of exponential growth. At the same time, it is also identified as one of the significant sources of Green House Gas (GHG) emissions.

Force Motors advanced 1.78% after the company announced its production and sales figures for the month of October 2021. The company's total production was 2,044 units, up 19.7% YoY but down 5.3% MoM. While the domestic sales declined 25.9% to 1,173 units, exports rose by 81.1% to 565 units in October 2021 over October 2020.

Powered by Capital Market - Live News