Shares near the day`s low; India VIX up over 7%

The domestic equity barometers traded near the day`s low in early afternoon trade. The Nifty was trading below the 17,050 level. Bank stocks witnessed across the board selling.

At 12:26 IST, the S&P BSE Sensex was down 492.56 points or 0.86% to 56,864.05. The Nifty 50 index declined 163.50 points or 0.95% to 17,037.30.

In the broader market, the S&P BSE Mid-Cap index fell 1.09% while the S&P BSE Small-Cap index lost 1.11%.

The market breadth was weak. On the BSE, 941 shares rose while 2,342 shares fell. A total of 106 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, surged 7.29% to 20.59. The Nifty 28 April 2022 futures were trading at 17,034.80, at a discount of 2.5 points as compared with the spot at 17,037.30.

The Nifty option chain for 28 April 2022 expiry showed maximum Call OI of 99.9 lakh contracts at the 17,500 strike price. Maximum Put OI of 109.9 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Bank index fell 1.27% to 35,942.65. The index had advanced 1% in the past two sessions.

Bandhan Bank (down 2.63%), RBL Bank (down 2.38%), ICICI Bank (down 2.16%), Axis Bank (down 2.05%), SBI (down 2.03%), IDFC First Bank (down 1.49%), Federal Bank (down 2.63%), Punjab National Bank (down 0.98%), IndusInd Bank (down 0.90%) declined.

AU Small Finance Bank fell 3.45% to Rs 1,369.60. The bank reported a net profit of Rs 346 crore in Q4 FY22 as against a net profit of Rs 169 crore in Q4 FY21.

Net interest income (NII) during the quarter increased by 43% YoY to Rs 937 crore as compared with the same period last year. Net interest margin (NIM) was at 6.3% in Q4 FY22 as against 5.7% in Q4 FY21.

The bank`s gross non-performing assets (NPAs) stood at Rs 924 crore as on 31 March 2021 as against Rs 1,058 crore as on 31 December 2021 and Rs 1,503 crore as on 31 March 2020.

The ratio of gross NPAs to gross advances stood at 1.98% as on 31 March 2021 as against 2.60% as on 31 December 2021 and 4.25% as on 31 March 2020. The ratio of gross NPAs to gross advances stood at 1.98% as on 31 March 2021 as against 2.60% as on 31 December 2021 and 4.25% as on 31 March 2020.

While deposits increased by 46% to Rs 52,585 crore, advances rose by 33% to Rs 46,095 crore as on 31 March 2022 as compared with the year ended on 31 March 2021.

Primary Market:

The initial public offer (IPO) of Campus Activewear received bids for 6.40 crore shares as against 3.36 crore shares on offer, according to stock exchange data at 12:21 IST on Wednesday (27 April 2022). The issue was subscribed 1.91 times. The issue opened for bidding on 26 April 2022 and it will close on 28 April 2022.

The initial public offer (IPO) of Rainbow Childrens Medicare received bids for 32.29 lakh shares as against 2.05 crore shares on offer, according to stock exchange data at 12:21 IST on Wednesday (27 April 2022). The issue was subscribed 0.16 times. The issue opened for bidding on 27 April 2022 and it will close on 29 April 2022.

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