PSU Bank shares witnessed selling pressure for second consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 447.84 points or 0.59% to 76,067.59. The Nifty 50 index declined 133.40 points or 0.57% to 23,763.20.
In the broader market, the BSE 150 MidCap Index fell 0.56% and the BSE 250 SmallCap Index rose 0.05%.
The market breadth was negative. On the BSE, 1,946 shares rose and 2,316 shares fell. A total of 281 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.03% to 11.22. The Nifty 29 September 2026 futures were trading at 23,882, at a premium of 118.8 points as compared with the spot at 23,763.20.
The Nifty option chain for the 29 September 2026 expiry showed a maximum call OI of 62.7 lakh contracts at the 24,000 strike price. A maximum put OI of 71.5 lakh contracts was seen at the 24,000 strike price.
Buzzing Index:
The Nifty PSU Bank index fell 1.28% to 8,406.10. The index declined 1.71% in the two consecutive trading sessions.
Bank of India (down 2.15%), Union Bank of India (down 1.79%), Indian Overseas Bank (down 1.34%), State Bank of India (down 1.33%), Bank of Baroda (down 1.22%), Indian Bank (down 1.18%), Punjab National Bank (down 1.03%), Canara Bank (down 0.88%), UCO Bank (down 0.85%) and Punjab & Sind Bank (down 0.73%) declined.
Stock in Spotlight:
Sudarshan Pharma Industries was locked in 5% upper circuit after the company said that its board has approved a proposal to acquire 24,23,675.64 equity shares of common stock, equivalent to 9.50% stake of MedTherapy Biotechnology Inc.
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