F&O Expiry: Sensex drops 286 pts, Nifty holds 17,600; India VIX eases 2%

Stock Market LIVE: The HDFC twins and Bajaj Finance are the major contributors for the Sensex 30, while Reliance Industries, ICICI Bank, Asian Paints and Infosys are the key draggers

The benchmark indices suffered sharp losses for the third day in a row defying firm global cues. The Nifty50 index ended at 17,618, down 93 points. The BSE Sensex, meanwhile, ended with a loss of 286 points at 59,126. The volatility remained high on account of monthly F&O expiry.

The BSE MidCap and SmallCap indices, however, closed higher, up 0.3 per cent and 0.6 per cent, respectively. The market breadth was in favour of advances as about 1,804 shares have advanced, and 1,393 shares declined. On the sectoral front it was a mixed trend, with buying seen in the realty, pharma, power and PSU banking stocks. Selling was seen in the auto, bank, IT, metal names.

3:56 PM

Tech View: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed the day at 17618 with a loss of half a percent and formed a bearish candle on daily chart. One more expiry ended on a positive note with gains of 6 percent. Going forwards immediate support is coming near 17540-17440 zone if managed to hold above mentioned supports area one can expect a bounce & we may see prices to move again towards immediate hurdle zone of 17700-17800 zone, overall structure looks consolidating & on broader term we may see index to consolidate in the range of 17300-18000 mark & either side breakout will decide the final direction.

3:53 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Indian market opened on a flat note and slipped in the later half tracking weak global cues and fall in heavyweights. Worries over the US debt ceiling crisis and uptick in bond yield triggered further consolidation. The domestic market also got vigilant ahead the release of August’s core sector output data.

3:48 PM

Faze Three Autofab jumps 14% in a weak market

>> According to BSE bulk deals data, ace investor Ashish Rameshchandra Kacholia bought 450,000 shares at an average price of Rs 288.80 in trades on the BSE on Wednesday. 

 

3:47 PM

JMC Projects rallies 12% on new order win

>> JMC secures new orders of Rs 1,849 Crores

3:46 PM

ZEEL to NCLT

>> Zee board to be held today or tomorrow on EGM request

>> Meeting of independent directors to take place today

>> To communicate to shareholders directors' decision

3:44 PM

Sector Watch :: Only 3 sectors end in the green

>> Nifty Realty best performer, media & metals worst

3:43 PM

Broader markets end in the green, outperform benchmark

3:42 PM

Sensex Heatmap | Top gainers & losers at close

3:36 PM

CLOSING BELL :: Nifty ends Sept F&O expiry at 17,618

3:36 PM

CLOSING BELL :: Sensex falls 287 points amid losses in RIL, IT & Banks

3:21 PM

NCLT to INVESCO

>> No merger can take place without your approval

3:20 PM

JMC Projects secures new orders of Rs 1,849 cr

>> Orders include B&F Projects in India of Rs 857 Crores and Social Housing Project in Maldives of Rs 992 Crores
 

>> With the above orders, the company's order inflows this year have reached Rs 7,959 Crores
 

 

3:15 PM

ZEEL-INVESCO CASE

 

>> Shareholders are owners of comapny; we want MD of ZEEL to go

 

>> We requested EGM on Sept 11; co has done nothing on our reuqest

 

>> We have more than 10% sharholding in the company and can call an EGM

 

>> As per law an EGM should have been called in 21 days of notice

 

Says Mukul Rohatgi while appearing for petitioner Invesco

3:08 PM

ZEEL-Invesco case

>> NCLT begins hearing on Invesco's petition in Zee matter

2:55 PM

Prominent losers among BSE 500 stocks; Sterling & Wilson, Future Retail

Shares of Sterling & Wilsson and Future Retail have declined over 4 per cent each on the BSE and are the major losers among the BSE 500 pack. Hindustan Zinc, Future Consumer, Cams Services and Cera Sanitary, down 3 per cent each, are the other prominent losers.