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Barometers at day's low; Nifty drops 191 pts

Capital Market 

The benchmark indices further extended losses in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, skid 563.05 points or 0.94% at 59,445.28. The Nifty 50 index lost 191.55 points or 1.07% at 17,707.10.

In the broader market, the S&P BSE Mid-Cap index declined 1.93% while the S&P BSE Small-Cap index slipped 1.78%.

The market breadth was weak. On the BSE, 844 shares rose and 2,360 shares fell. A total of 129 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.23% to 15.6150. The Nifty 25 November 2021 futures were trading at 17,706.75, at a discount of 0.35 point as compared with the spot at 17,707.10.

The Nifty option chain for 25 November 2021 expiry showed maximum Call OI of 49.3 lakh contracts at the 18,000 strike price. Maximum Put OI of 28 lakh contracts was seen at 17,500 strike price.

Buzzing Index:

The Nifty Auto index declined 2.89% to 11,713.05. The index added 3.20% in the past two trading sessions.

Bosch (down 5.43%), Ashok Leyland (down 4.66%), Tata Motors (down 4.52%), Eicher Motors (down 3.49%) and Bharat Forge (down 3.05%) were the top losers in the Auto segment.

Meanwhile, the Federation of Automobile Dealers Associations (FADA), apex national body representing automobile dealers in India, on Thursday, 18 November 2021, released monthly vehicle registration data for October 2021.

Total vehicle registrations fell by 5.33% to 13,64,526 units in October 2021 as against 14,41,299 units registered in October 2020. On a year-on-year basis, registration of three-wheeler segment was up by 74% year on year at 39,077 units and registration of commercial vehicle registration was up by 26.45% at 56,732 units in October 2021. Two-wheeler segment, private vehicle segment and tractors space declined by 6%, 11.3% and 21% respectively.

During the 42 days festive period, total vehicle retails were down by -18% year-on-year. Except three-wheeler segment and commercial vehicle space, which were up by 53% and 10%, registrations of all the other categories were in red with two-wheeler segment, private vehicle space and tractors segment declining by 18%, 26% and 23% respectively. FADA said that this was the worst festive season in a decade for auto dealers as semi-conductor shortage in private vehicle space and low demand for entry level two-wheeler segment kept the celebrations at bay.

Stocks in Spotlight:

Hindustan Zinc lost 0.50%. The company announced incorporation of wholly-owned subsidiary company, Hindustan Zinc Alloys, on 17 November 2021. Hindustan Zinc Alloys will engage "in the business of smelting, melting & casting; metallurgists including beneficiation of minerals, mineral dressing, concentration; manufacture; produce and generally dealing in all metals & their alloys and in particular dealing with zinc and lead metals and concentrates and alloys of all kinds, their products and by products of all kinds and the sale, dealing or other disposition of all such products and by-products, through its state of art facilities and to carry out any other activity/activities incidental in relation to the main object."

DLF declined 2.36%. The real estate company was selected to be a constituent of the Dow Jones Sustainability Emerging Markets Index for the second time. DLF is the only real estate company from India to be included in this index and joins a distinguished league of 15 companies from India which have been recognized for their ESG initiatives and practices. As of 12 November 2021, DLF performed in the top decile in the S&P Global Corporate Sustainability Assessment with a 97% percentile ranking. This is the second consecutive year that DLF is included in the index.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 18 2021. 12:35 IST
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