Sensex down 317 pts; Nifty holds 18,000; media stocks decline
Published on Dec 29, 2022 12:32
The key equity indices continued to trade with modest losses in early afternoon trade. The Nifty continued to hold above the 18,000 level. Media stocks snapped its three days losing streak. Trading could be volatile on account of monthly options expiry.
At 12:29 IST, the barometer index, the S&P BSE Sensex, was down 317.47 points or 0.52% to 60,592.81. The Nifty 50 index lost 104.15 points or 0.57% to 18,018.35.
In the broader market, the S&P BSE Mid-Cap index declined 0.91% while the S&P BSE Small-Cap index fell 0.20%.
The market breadth was negative. On the BSE, 1,424 shares rose, and 1,922 shares fell. A total of 149 shares were unchanged.
The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 0.09% to 15.41. The Nifty 29 December 2022 futures were trading at 18,118.70, at a premium of 100.35 points as compared with the spot at 18,018.35.
The Nifty option chain for the 29 December 2022 expiry showed maximum Call OI of 190.9 lakh contracts at the 18,100 strike price. Maximum Put OI of 226.9 lakh contracts were seen at 18,000 strike price.
The Nifty Media index declined 0.97% to 1,974.70. The index added 4.72% in three trading sessions.
PVR (down 2.96%), Inox Leisure (down 2.1%), Network 18 Media & Investments (down 2.09%), Nazara Technologies (down 1.38%), TV18 Broadcast (down 1.19%), Saregama India (down 1.04%), Sun TV Network (down 0.69%), Hathway Cable & Datacom (down 0.58%), Zee Entertainment Enterprises (down 0.56%) and Dish TV India (down 0.28%) declined.
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