Indices trade with modest losses; Nifty below 17,250

7 Oct 2022 , 12:33 PM

The key equity indices hit days low and continued to trade with modest losses in the early afternoon trade. Negative global cues impacted sentiment. The Nifty slipped below the 17,250 mark. Barring the Nifty Consumer Durables index, all the other sectoral indices on the NSE were in the red. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 281.27 points or 0.48% to 57,940.83. The Nifty 50 index lost 89.50 points or 0.52% to 17,242.30. In the broader market, the S&P BSE Mid-Cap index slipped 0.66% while the S&P BSE Small-Cap index shed 0.16%. The market breadth was negative. On the BSE, 1,579 shares rose, and 1,704 shares fell. A total of 139 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, declined 0.77% to 19.165. The Nifty 27 October 2022 futures were trading at 17,254.95, at a premium of 12.65 points as compared with the spot at 17,242.30. The Nifty option chain for the 27 October 2022 expiry showed maximum Call OI of 81.2 lakh contracts at the 17,500 strike price. Maximum Put OI of 45.2 lakh contracts were seen at 17,200 strike price. Buzzing Index: The Nifty FMCG index declined 1.07% to 43,625.80. The index advanced 6.07% in the previous two trading sessions. Among the components of the Nifty FMCG index, Godrej Consumer Products (down 3.12%), Emami (down 2.66%), Tata Consumer Products (down 1.67%), Dabur India (down 1.45%), ITC (down 1.29%), Hindustan Unilever (down 1.27%), United Breweries (down 1.24%), Marico (down 0.97%), Varun Beverages (down 0.94%) and Britannia Industries (down 0.57%) were the top losers. On the other hand, Radico Khaitan (up 0.46%) ,Colgate-Palmolive (India) (up 0.11%) edged higher. Stocks in Spotlight: Varroc Engineering fell 7.60% after the company announced a revised deal for its lighting business. In April this year, Varroc Engineering entered into a definitive agreement with Compagnie Plastic Omnium SE, France (PO) to divest its 4-wheeler lighting business in the Americas and Europe. Lupin rose 0.17%. The pharmaceutical company on Friday announced that it has reached an agreement with Unitaid, The Aurum Institute, the Clinton Health Access Initiative (CHAI), and other global procurement agencies to support tuberculosis prevention treatment. NTPC declined 0.12%. NTPC and GE Gas Power signed a Memorandum of Understanding (MoU) for feasibility to demonstrate hydrogen co-firing blended with natural gas in GEs 9E gas turbines installed at NTPCs Kawas combined-cycle gas power plant in Gujarat. Powered by Capital Market – Live News