Benchmark indices continued hovering near the day s low in early afternoon trade. The Nifty index slipped below 14,300 level. Barring the Nifty FMCG index, all the sectoral indices on the NSE declined. At 12:20 IST, the barometer index, the S&P BSE Sensex, dropped 391.26 points or 0.80% at 48,643.41. The Nifty 50 index lost 136.40 points or 0.95% at 14,297.30.
In the broader market, the S&P BSE Mid-Cap index fell 1.90% while the S&P BSE Small-Cap index declined 1.82%.
The market breadth was very weak. On the BSE, 698 shares rose and 2,081 shares fell. A total of 141 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, jumped 4.03% to 24.98. The Nifty 28 January 2021 futures were trading at 14,305.40, at a premium of 8.10 point compared with the spot at 14,297.30.
Benchmark indices ended with steep losses on Monday, extending fall for the second straight session. All the sectoral indices on NSE ended in red. Metal shares corrected sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment.
The barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.27. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.30.
Reliance Industries (up 2.37%), HDFC Bank (up 1.15%) and ITC (up 0.76%) supported the indices. Axis Bank (down 2.79%), Infosys (down 2.49%), HDFC (down 2.49%) and ICICI Bank (down 1.94%) dragged.
In the broader market, the BSE Mid-Cap index fell 2.01% and the BSE Small-Cap index lost 1.89%. Both the indices underperformed the benchmark indices.
Read more about Nirmala Sitharaman holds pre-Budget meeting with state finance ministers on Business Standard. Finance Minister Nirmala Sitharaman on Monday held a meeting with state finance ministers who suggested steps to revive growth and boost revenue collection against the backdrop of COVID-19 crisis.
The domestic equity benchmarks reversed early losses and ended with decent gains on Thursday. The indices witnessed volatility due to expiry of weekly index options on the NSE. Auto stocks extended gains for the sixth consecutive session.
The barometer index, the S&P BSE Sensex, added 91.84 points or 0.19% to 49,584.16. The Nifty 50 index gained 30.75 points or 0.21% at 14,595.60. Both the indices attained record closing high levels.
TCS (up 2.89%), Reliance Industries (up 1.11%), L&T (up 1.80%) and ITC (up 1.35%) were major market movers.
Investors looked forward to US President-elect Joe Biden s major COVID-19 relief package to be unveiled on Thursday.
In the broader market, the BSE Mid-Cap index rose 0.29% and the BSE Small-Cap index gained 0.17%.
Read more about Sensex, Nifty strike record high on Business Standard. Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 198.14 points or 0.4% at 49,715.25. The Nifty 50 index was up 66.70 points or 0.46% at 14,630.15.