Weakness persists on bourses; Nifty trades below 11,000 mark

Key indices continued hovering near the day's low as bearish sentiment gripped the market. The Nifty was trading below the 11,000-mark. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 129.67 points or 0.35% at 37,272.82. The Nifty 50 index was down 49.45 points or 0.45% at 11,004.45.

The market breadth was weak. On the BSE, 715 shares rose and 1381 shares fell. A total of 123 shares were unchanged. The S&P BSE Mid-Cap index was down 0.98%. The S&P BSE Small-Cap index was down 0.72%.

Transport Corporation of India rose 0.31% after the company announced ICRA credit ratings for its commercial paper. ICRA assigned 'ICRA A1+' to Rs 200 crore commercial papers of the company. The company's instrument is considered to have a strong degree of safety regarding timely payment of financial obligations.

Goldiam International shined 6.07% to Rs 100.55 after the company received export orders worth Rs 100 crore for manufacturing of diamond studded designed gold jewellery. The order is to be executed within 3 months.

On the derivatives front, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.38% at 16.8125.

The Nifty August 2019 futures were trading at at 10,995.45, a discount of 3.55 points compared with the spot at 10,999. State Bank of India, Reliance Industries and Infosys were the top traded individual stock futures contracts so far in F&O segment of NSE.

On the options front, the Nifty option chain for 29 August 2019 expiry showed maximum call open interest (OI) of 26.60 lakh contracts at the 11,500 strike price. Maximum put OI of 37.04 lakh contracts was seen at 11,000 strike price. The option data suggest a trading range between 11,000 and 11,500 for Nifty in the month of August.

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