Sensex, Nifty skids into negative terrain; Nifty below 17,200 level
Published on Mar 24, 2022 12:40
The benchmark indices witnessed major volatility during early afternoon trade. Banks stocks dragged the indices lower while metal and pharma scrips supported. The Nifty slipped below its 17,200 mark.
At 12:30 IST, the barometer index, the S&P BSE Sensex dropped 279.94 points or 0.49% at 57,404.88. The Nifty 50 index lost 71.90 points or 0.42% at 17,173.75.
The S&P BSE Mid-Cap index rose 0.23%. The S&P BSE Small-Cap index gained 0.10%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, shares 1,467 rose and 1,788 shares fell. A total of 137 shares were unchanged.
The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, fell 0.07% to 24.73. The Nifty 31 March 2022 futures were trading at 17,189.85, at a premium of 16.10 points as compared with the spot at 17,173.75.
The Nifty option chain for 31 March 2022 expiry showed maximum Call OI of 82.61 lakh contracts at the 18,000 strike price. Maximum Put OI of 103.32 lakh contracts was seen at 16,000 strike price.
The Nifty Pharma index rose 1.13% to 13,722.35. The index gained 1.54% in two trading sessions.
Dr Reddy`s Laboratories (up 3.96%), Lupin (up 3.38%), Aurobindo Pharma (up 3.31%), Glenmark Pharmaceuticals (up 2.15%) and Granules India (up 1.99%) were the gainers in the Pharma segment.
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