Read more about Sensex, Nifty hover near day s low; breadth weak on Business Standard. At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 330.40 points or 0.67% at 49,294.11. The Nifty 50 index slipped 87.35 points or 0.6% at 14,503.
Barometers further extended gains and hit a fresh intraday high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, soared 631.76 points or 1.30% at 49,196.03. The Nifty 50 index jumped 190 points or 1.33% at 14,471.30.
In the broader market, the S&P BSE Mid-Cap index rose 1.72% while the S&P BSE Small-Cap index gained 1.52%.
The market breadth was very strong. On the BSE, 1,978 shares rose and 709 shares fell. A total of 133 shares were unchanged.
Positive cues from other Asian markets and robust FII inflows in the domestic equity market boosted sentiment.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, dropped 5.09% to 23.1525. The Nifty 28 January 2021 futures were trading at 14,501, at a premium of 29.70 point compared with the spot at 14,471.30.
India VIX rose 1.6% to 24.395.The Nifty January 2021 futures were at 14,251.65, a discount of 29.65 points compared with the Nifty s spot closing of 14,281.30.
Turnover on the National Stock Exchange s futures & options (F&O) segment was Rs 27.57 lakh crore compared with Rs 22.75 lakh crore in the previous session.
In the cash market, the Nifty 50 index slumped 152.40 or 1.06% to 14,281.30.
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, rose 1.6% to 24.395.
The Nifty option chain for 28 January 2021 expiry showed maximum call OI of 25.21 lakh contracts at the 15,000 strike price. Maximum put OI of 31.44 lakh contracts was seen at 14,000 strike price.