The key equity barometers traded sideways in afternoon trade. The Nifty managed to hold above the 19,650 mark. IT shares extended their downfall for sixth day in a row.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 24.88 points or 0.04% to 65,998.81. The Nifty 50 index added 5.60 points or 0.03% to 19,680.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index gained 0.39%.

The market breadth was almost even. On the BSE, 1,976 shares rose and 1,531 shares fell. A total of 149 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.52% to 11.18. The Nifty 28 September 2023 futures were trading at 19,671.10, at a discount of 9.05 points as compared with the spot at 19,683.50.

The Nifty option chain for the 28 September 2023 expiry showed maximum Call OI of 138.4 lakh contracts at the 19,800 strike price. Maximum Put OI of 103.9 lakh contracts were seen at 19,600 strike price.

Buzzing Index:

The Nifty IT index fell 0.56% to 32,465.80. The index has lost 2.67% in the past six sessions.

Coforge (down 1.95%), Mphasis (down 1.77%), Tech Mahindra (down 1.14%), Persistent Systems (down 0.78%) and Infosys (down 0.56%) were the top losers.

Among the other losers were Tata Consultancy Services (down 0.38%), HCL Technologies (down 0.09%), Wipro (down 0.06%) and L&T Technology Services (down 0.01%).

Stocks in Spotlight:

Vishnu Prakash R Punglia rallied 5.53%. The company received letter of award (LoA) from Madhya Pradesh Jal Nigam (MPJN), Government of Madhya Pradesh for construction at Chillar Dam in Shajapur district, Madhya Pradesh.

Mankind Pharma rose 1.28%. The company announced that the commercial operations with respect to pharmaceutical formulations has commenced at its newly set-up plant in Udaipur, Rajasthan, with effect from 25 September 2023.

Samvardhana Motherson International (SAMIL) was up 0.50%. SAMIL said that CRISIL Ratings has also revised its outlook on long-term bank loan facilities and corporate credit rating of the company to 'positive' from 'stable' while reaffirming the rating at 'CRISIL AA+'. The rating on short term bank facilities has been reaffirmed at 'CRISIL A1+', the company informed.

Powered by Capital Market - Live News