Barometers extend losses; realty stocks tumble

Barometers slumped to fresh intraday low in early afternoon trade. At 12:29 IST, the barometer index, the S&P BSE Sensex, tumbled 386.3 points or 0.95% at 40,135.59. The Nifty 50 index dropped 85.5 points or 0.72% at 11,804.45.

In the broader market, the S&P BSE Mid-Cap index was flat while the S&P BSE Small-Cap index fell 0.05%.

The market breadth was negative. On the BSE, 1058 shares rose and 1297 shares fell. A total of 142 shares were unchanged.

COVID-19 Update:

India reported 6,10,803 active cases of COVID-19 infection and 120,010 deaths while 72,59,509 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Total COVID-19 confirmed cases worldwide stood at 43,906,632 with 1,166,193 deaths, according to data from Johns Hopkins University.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.67% to 22.5675. The Nifty October 2020 futures were trading at 11,837.45, at a discount of 11.05 points compared with the spot at 11,848.50.

The Nifty option chain for 29 October 2020 expiry showed maximum Call OI of 63.07 lakh contracts at the 12,000 strike price. Maximum Put OI of 48.72 lakh contracts was seen at 11,500 strike price.

Buzzing Index:

The Nifty Realty index declined 1.24% to 226.35. The index has lost 4.77% in four trading days.

DLF (down 2.88%), Indiabulls Real Estate (down 2.49%), Godrej Properties (down 1.82%), Omaxe (down 0.22%) and Brigade Enterprises (down 0.03%) were top losers in realty segment.

Stocks in Spotlight:

K P R Mill surged 9.35% to Rs 740 after consolidated net profit rose 3.1% to Rs 112.54 crore on 19.4% increase in net sales to Rs 905.85 crore in Q2 September 2020 over Q2 September 2019. In order to cater to the growing market demand and towards stepping up of efforts tapping the potential markets, K.P.R. Mill is venturing into expansion of its garment segment by establishing a new garment factory with 42 million garments per annum at an estimated project cost of Rs 250 crore. The factory is coming up near Coimbatore (Tamil Nadu), within the proximity of existing facilities so as to avail the benefits of integrated activities.

Delta Corp rose 4.02% to Rs 112.60 after the company said its casino in Sikkim will resume operations from 1 November 2020, with applicable safety norms. The Sikkim casino was closed in March this year to combat the outbreak of Covid-19.

Powered by Capital Market - Live News