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Barometers trade with minor losses; VIX spurts 4.26%

Published on Oct 31, 2023 12:36

Domestic equity indices traded with limited losses in early afternoon trade. The Nifty traded below the 19,100 level after hitting the day�s high of 19,233.70 in early trade. Oil & gas shares declined after advancing in the past two trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 198.39 points or 0.31% to 63,914.26. The Nifty 50 index shed 54.40 points or 0.28% to 19,086.50.

The broader market outperformed the key indices. The S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index gained 0.30%.

The market breadth is positive. On the BSE, 1,884 shares rose and 1,595 shares fell. A total of 137 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, jumped 4.26% to 11.98. The Nifty 30 November 2023 futures were trading at 19,189, at a premium of 83.4 points as compared with the spot at 19,105.60.

The Nifty option chain for the 30 November 2023 expiry showed maximum Call OI of 27 lakh contracts at the 19,000 strike price. Maximum Put OI of 54.6 lakh contracts were seen at 19,000 strike price.

Buzzing Index:

The Nifty Oil & Gas index fell 0.78% to 7,590.50. The index has added 2.63% in previous two trading sessions.

Oil & Natural Gas Corpn (down 1.96%), GAIL (India) (down 1.73%), Petronet LNG (down 1.59%), Aegis Logistics (down 1.49%), Castrol India (down 1.36%), Gujarat Gas (down 1.34%), Gujarat State Petronet (down 1.06%), Reliance Industries (down 0.79%), Indian Oil Corporation (down 0.57%) and Bharat Petroleum Corporation (down 0.53%) slipped.

On the other hand, Mahanagar Gas (up 1.48%) ,Adani Total Gas (up 1.34%) and Indraprastha Gas (up 0.25%) edged higher.

Stocks in Spotlight:

Larsen & Toubro (L&T) declined 0.31%. The EPC major announced that its hydrocarbon business, L&T Energy Hydrocarbon (LTEH) has secured Letter of Intent (LoI) for Ultra-Mega onshore project from a client in the Middle East for a Gas Compression plant. As per Larsen & Toubro`s (L&T) classification, the value of the �Ultra Mega` project is more than Rs 15,000 crore.

Spandana Sphoorty Financial shed 0.76%. The company has reported 127% jump in consolidated net profit to Rs 125 crore in Q2 FY24 from Rs 55 crore in Q2 FY23. Total income from operations increased 105% year-over-year to Rs 610 crore during the period under review. Net interest margin for Q2 FY24 was 14.1% as compared with 13% in Q2 FY23.

Blue Star rallied 4.86% after the company�s consolidated net profit stood at Rs 70.77 crore in Q2 FY24, recording the growth 65.97% as compared with Rs 42.64 crore posted in Q2 FY23. Revenue from operations increased by 19.47% to Rs 1,890.40 crore for the second quarter ended 30 September 2023 as compared to Rs 1,582.29 crore during the same period the previous year.

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