BAROMETERS TRADE WITH MINOR LOSSES; BANK SHARES SLIDE

The headline equity indices traded with limited losses in early afternoon trade. The Nifty traded below the 25,000 level. Bank shares declined after advancing in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex was down 182.53 points or 0.23% to 81,420.65. The Nifty 50 index lost 33.55 points or 0.13% to 24,964.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.17% and the S&P BSE Small-Cap index added 0.28%.

The market breadth was positive. On the BSE, 1,984 shares rose and 1,754 shares fell. A total of 139 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 1.29% to 13.32. The Nifty 31 October 2024 futures were trading at 25,047.00, at a premium of 82.1 points as compared with the spot at 24,964.90.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 52.7 lakh contracts at the 26,000 strike price. Maximum Put OI of 43.3 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty Bank index shed 0.76% to 51,138.35. The index rose 1.03% in the past trading session.

ICICI Bank (down 1.54%), IDFC First Bank (down 1.44%), Axis Bank (down 1.2%), AU Small Finance Bank (down 1.13%), Bank of Baroda (down 1.08%), HDFC Bank (down 0.91%), IndusInd Bank (down 0.84%), State Bank of India (down 0.14%), Kotak Mahindra Bank (down 0.02%) edged lower.

On the other hand, Federal Bank (up 0.71%) ,Canara Bank (up 0.37%) and Punjab National Bank (up 0.2%) turned up.

Stocks in Spotlight :

Oriental Rail Infrastructure was locked in 5% upper circuit after the company secured an order worth Rs 1.58 crore from North Eastern Railways (NER) at Gorakhpur, Indian Railways.

Ashoka Buildcon added 3.80% after the company announced that it has been declared as the lowest (L-1) bidder by Brihanmumbai Municipal Corporation (BMC) for a project worth Rs 918 crore.

Bondada Engineering advanced 2.50% after the company said that it has received letter of award (LoA) from Maharashtra State Power Generation Company (MAHAGENCO) for bulk work orders aggregating to Rs 1,132.25 crore.

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