Nifty tad below 17,900; India VIX rises 3.39%

15 Sep 2022 , 12:35 PM

The key equity indices continued to trade with moderate losses near the days low in the early afternoon trade. The Nifty slipped a tad below the 17,900 mark after hitting the days high at 18,096.15 in the early trade. The Nifty Bank index hit an all time high in the early trade today before slipping into the negative terrain. Trading was volatile due to the expiry of weekly index options on the NSE today. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 315.06 points or 0.52% to 60,031.91. The Nifty 50 index declined 104.10 points or 0.58% to 17,899.65. In the broader market, the S&P BSE Mid-Cap index fell 0.09% while the S&P BSE Small-Cap index shed 0.02%. The market breadth was negative. On the BSE, 1,566 shares rose and 1,737 shares fell. A total of 149 shares were unchanged. Derivatives: The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, jumped 3.39% to 18.8975. The Nifty 29 September 2022 futures were trading at 17,908.40, at a premium of 8.75 points as compared with the spot at 17,899.65. The Nifty option chain for the 29 September 2022 expiry showed maximum Call OI of 157.6 lakh contracts at the 18,000 strike price. Maximum Put OI of 100.5 lakh contracts were seen at 17,800 strike price. Buzzing Index: The Nifty Bank index declined 0.42% to 41,230.85, snapping its five days rising streak. The index advanced 4.94% in past five trading sessions. The index hit an all time high today at 41,840.15 in early trade before slipping into the negative terrain. Among the components of the Nifty Bank index, IndusInd Bank (down 1.48%), Axis Bank (down 1.34%), Kotak Mahindra Bank (down 1.18%), Bank of Baroda (down 0.71%), HDFC Bank (down 0.66%) AU Small Finance Bank (down 0.31%), State Bank of India (down 0.13%), Punjab National Bank (down 0.12%) and ICICI Bank (down 0.02%) were the top losers. On the other hand, IDFC First Bank (up 2.36%),Bandhan Bank (up 1.75%) and Federal Bank (up 1.16%) edged higher. Stocks in Spotlight : Astral jumped 4.25% after the company said that its board has approved the purchase additional 15% stake in its UK-based subsidiary Seal IT Services from an existing shareholder for a consideration of GBP 52,50,000. In INR terms, the cash consideration is equivalent to approximately Rs 48 crore. Larsen & Toubro rose 1.06% after the EPC major on Thursday (15 September 2022) announced that its construction arm has secured a significant contract for its water & effluent treatment business. As per Larsen & Toubros (L&T) classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore. Powered by Capital Market – Live News