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Sensex drops 658 pts; Nifty holds 17,900

Published on Jan 19, 2022 12:39

The benchmark indices hit fresh intraday low in early afternoon trade, dragged by IT, financial services and bank scrips. The Nifty managed to hover above 17,900 mark.

At 12:30 IST, the barometer index, the S&P BSE Sensex, dropped 658.47 points or 1.08% at 60,096.39. The Nifty 50 index skid 192 points or 1.06% at 17,921.05.

In the broader market, the S&P BSE Mid-Cap index lost 0.84% while the S&P BSE Small-Cap index fell 0.39%.

The market breadth was negative. On the BSE, 1,340 shares rose and 1,970 shares fell. A total of 102 shares were unchanged.

COVID-19 Update:

In last 24 hours, India registered 2,82,970 new COVID-19 infections in a day taking the tally to 3,79,01,241, according to the Union Health Ministry data on Wednesday. The country reported 441 new deaths taking the death toll to 4,87,202. The country recorded 1,88,157 recoveries, taking the total number of recoveries to 3,55,83,039. The active cases comprise 4.83% of the total infections, while the national COVID-19 recovery rate has decreased to 93.88%, the ministry said.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, advanced 2.05% to 18.1450. The Nifty 27 January 2022 futures were trading at 17,987.50, at a premium of 66.45 points as compared with the spot at 17,921.05.

The Nifty option chain for 27 January 2022 expiry showed maximum Call OI of 25.2 lakh contracts at the 18,300 strike price. Maximum Put OI of 32.8 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Media index rose 1.15% to 2,327.85. TV18 Broadcast (up 7.83%), Nazara Technologies (up 4.06%), Hathway Cable & Datacom (up 2%), Network18 Media & Investments (up 1.67%) and Inox Leisure (up 1.66%) were the top gainers in the Media segment.

IPO Updates:

The initial public offer (IPO) of AGS Transact Technologies received bids for over 1.78 crore shares as against 2.86 crore shares on offer, according to stock exchange data at 12:24 IST on Wednesday, (19 January 2022). The issue was subscribed 62%.

The issue opened for bidding on 19 January 2022 and it will close on 21 January 2022. The price band of the IPO is fixed at Rs 166-175. An investor can bid for a minimum of 85 equity shares and in multiples thereof. The IPO comprises an offer for sale aggregating up to Rs 680 crore.

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