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Benchmarks pare losses; Nifty Feb futures at discount

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The market pared losses in early afternoon trade. The Nifty traded above the crucial 12,000 mark. At 12:21 IST, the S&P BSE Sensex, was down 167.88 points or 0.41% at 40,973.97. The Nifty 50 index was down 64.65 points or 0.53% at 12,033.70.

The S&P BSE Mid-Cap index was down 0.52% while the S&P BSE Small-Cap index was down by 0.07%.

The market breadth was ruled by sellers. On the BSE, 916 shares rose and 1305 shares fell. A total of 148 shares were unchanged. In Nifty 50 index, 12 stocks advanced while 38 stocks declined.


The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 3.89% to 14.2825. The Nifty February 2020 futures were trading at 12,031.05, a discount of 1.8 points compared with the spot at 12,032.85.

On the options front, the Nifty option chain for 27 February 2020 expiry showed maximum call open interest (OI) of 27.24 lakh contracts at the 12,500 strike price. Maximum Call writing was witnessed at 12,000 strike price, which added 2.86 lakh contracts. Call unwinding was observed at 12,400 strike price which shed 90,450 contracts.

Maximum put OI of 32.88 lakh contracts was seen at 12,000 strike price. Massive put writing was observed at 11,800 strike which added 1.86 lakh contracts.

The option chain indicates that the Nifty will stay between 12,000 and 12,500 level till February expiry.

Stocks in Spotlight:

Cipla rose 0.52%. The drug major said it has acquired 4 brands -- CPink, CDense, Productiv and Folinine -- from Wanbury to further strengthen its presence in women's health. The nutraceutical products, to be sold under the 4 umbrella brands, would address various health needs for conditions arising due to nutritional deficiencies or insufficiencies.

Dr Reddy's Laboratories shed 0.61%. The drug major said Curis, a biotechnology firm focusing on the development of innovative therapeutics for cancer treatment, has entered into an amendment of its collaboration, license and option agreement with Aurigene, a subsidiary of Dr Reddy's.

Hindustan Aeronautics (HAL) was up 0.45%. HAL and JSC Rosoboronexport signed an MoU during the ongoing DefExpo 2020. The MoU envisages export of spares and services to friendly countries for which license has been given to HAL. The scope will include Su-30 MKI, AL 31 FP engine, RD33 engines, accessories etc.

Shares of Lakshmi Vilas Bank (LVB) hit 10% upper circuit at Rs 18.15 after media reports suggested that DBS Bank, Indostar Capital and Capri Global were among the top suitors for infusing funds in the cash-strapped bank.

Maruti Suzuki India declined 0.9%. The car major announced a 2.16% decline in total production for the month of January 2020 to 179,103 units from 183,064 units reported in January 2019.

Ashoka Buildcon declined 1.01% to Rs 112.65. On a consolidated basis, the construction major reported a consolidated net profit of Rs 32.41 crore in Q3 December 2019 as against a consolidated net loss of Rs 15.72 crore posted in Q3 December 2018. Net sales declined 6.3% YoY to Rs 1280.36 crore in Q3 December 2019

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

First Published: Mon, February 10 2020. 12:23 IST