A bout of volatility was witnessed as key equity indices trimmed losses after hitting fresh intraday low in early-afternoon trade. At 12:32 IST, the barometer index, the S&P BSE Sensex, was down 213.72 points or 0.54% at 39,543.09. The Nifty 50 index was down 67.25 points or 0.56% at 11,838.95.
Among secondary barometers, the BSE Mid-Cap index was down 0.98%. The BSE Small-Cap index was down 1.05%. Both these indices underperformed the Sensex.
The market breadth was weak. On BSE, 569 shares advanced and 1638 shares declined. A total of 101 shares were unchanged.
Jet Airways (India) slumped 21.24% after The National Stock Exchange of India (NSE) said on Wednesday that shares of Jet Airways (India) will be removed from daily trading of futures and options effective 28 June 2019, citing the air carrier's failure to respond to queries about persisting rumours in the market. The stock has now hit an all-time low at Rs 84.80.
Auto shares tumbled, extending recent losses, amid weak automobile sales. Ashok Leyland (down 1.9%), Hero MotoCorp (down 1.49%), Bajaj Auto (down 1.4%), TVS Motor Company (down 1.18%), Escorts (down 1.1%), Maruti Suzuki India (down 0.64%), Eicher Motors (down 0.48%) and Mahindra & Mahindra (down 0.34%), edged lower.
Tata Motors was down 2.28% after global wholesales, including Jaguar Land Rover, were at 82,374 units, lower by 23% in May 2019 over May 2018. The announcement was made after market hours yesterday, 12 June 2019.
Adani Enterprises was down 1.83%. Adani Australia received its final environmental approval to begin work on its Carmichael mine in Central Queensland, Australia. The announcement was during the market hours on 13 June 2019.
In the derivatives market on the NSE, Nifty's option chain for 27 June 2019 expiry showed maximum call open interest (OI) of 24.60 lakh contracts at 12,000 strike price. Maximum put OI of 28.32 lakh contracts was seen at 11,500 strike price for the same expiry.
Meanwhile, NSE's India VIX, a gauge of market's expectation of volatility over the near term, was down 0.49% to settle at 14.05.
Ministry of Earth Science said in a statement that the very severe cyclonic storm 'VAYU' over Eastcentral & adjoining Northeast Arabian Sea moved north-northwestwards with a speed of about 11 kmph in last six hours and lay centred at 05:30 IST of 13 June 2019 near latitude 20.3N and longitude 69.5E over northeast & adjoining eastcentral Arabian Sea, about 150 km south-southwest of Diu, 110 km southwest of Veraval (Gujarat) and 150 km nearly south of Porbandar (Gujarat). It is very likely to move north-northwestwards for some time and then northwestwards skirting the Saurashtra coast affecting Gir Somnath, Diu, Junagarh, Porbandar and Devbhoomi Dwarka with wind speed 135-145 kmph gusting to 160 kmph from afternoon of 13 June 2019, the statement added.
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