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Market extends losses; Sensex dives 1,257 pts; VIX spurts 8%

Published on Jan 17, 2024 12:31

The key equity indices continued to extend losses in early afternoon trade. The Nifty traded below the 21,700 level. Private bank shares declined for the second day in a row.

At 12.27 IST, the barometer index, the S&P BSE Sensex tumbled 1,256.90 points or 1.72% to 71,871.87. The Nifty 50 index lost 364.90 points or 1.66% to 21,667.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.81% and the S&P BSE Small-Cap index declined 0.64%.

The market breadth was weak. On the BSE, 1,292 shares rose and 2,422 shares fell. A total of 106 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, jumped 7.99% to 14.66. The Nifty 25 January 2024 futures were trading at 21,713.25, at a premium of 28.95 points as compared with the spot at 21,684.30.

The Nifty option chain for the 25 January 2024 expiry showed maximum Call OI of 95.9 lakh contracts at the 22,000 strike price. Maximum Put OI of 78 lakh contracts were seen at 21,000 strike price.

Buzzing Index:

The Nifty Private Bank index slipped 3.75% to 23,919.70. The index declined 3.87% in the two trading sessions.

HDFC Bank (down 6.88%), Kotak Mahindra Bank (down 3.23%), Federal Bank (down 3.17%), RBL Bank (down 2.79%) and ICICI Bank (down 2.71%), City Union Bank (down 2.56%), Axis Bank (down 2.42%), Bandhan Bank (down 2.35%), IDFC First Bank (down 2.27%) and IndusInd Bank (down 1.56%) slipped.

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