Barometers extend modest losses; Nifty holds 17,000 level

The benchmark indices dragged minor losses during early afternoon trade. Barring IT, oil & gas and metal, the sectoral indices on the NSE were in red. The Nifty hovered above 17,000 mark.

At 12:30 IST, the barometer index, the S&P BSE Sensex dropped 225.01 points or 0.39% at 57,067.48. The Nifty 50 index lost 77.10 points or 0.45% at 17,040.50.

The S&P BSE Mid-Cap index shed 1.03%. The S&P BSE Small-Cap index fell 0.45%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,217 rose and 2,051 shares fell. A total of 127 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, rose 1.35% to 24.9550. The Nifty 31 March 2022 futures were trading at 17,103.60, at a premium of 63.1 points as compared with the spot at 17,040.50.

The Nifty option chain for 31 March 2022 expiry showed maximum Call OI of 61.45 lakh contracts at the 18,000 strike price. Maximum Put OI of 102.11 lakh contracts was seen at 16,000 strike price.

Buzzing Index:

The Nifty Auto index fell 1.33% to 10,309.90. The index lost 2.53% in two sessions.

Ashok Leyland (down 1.81%), Eicher Motors (down 1.43%), Bosch (down 1.23%), Amara Raja Batteries (down 1.09%) and Maruti Suzuki India (down 1.09%) were the losers in the Auto segment.

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