The benchmark indices were trading near the day's low during early afternoon trade, dragged by negative global cues. The Nifty index held its psychological 18,000 mark. The October 2021 F&O contracts expires today, 28 October 2021. The NSE sectoral indices declined across the board.
At 12:20 IST, the barometer index, the S&P BSE Sensex, dropped 640.01 points or 1.05% at 60,503.32. The Nifty 50 index lost 206.20 points or 1.13% at 18,004.75.
In the broader market, the S&P BSE Mid-Cap index slipped 0.74% while the S&P BSE Small-Cap index declined 1.04%.
The market breadth was weak. On the BSE, 981 shares rose and 2,155 shares fell. A total of 132 shares were unchanged.
Primary Market:
The initial public offering (IPO) of Nykaa, with a price band of Rs 1,085-1,125 per share, opened for public subscription on Thursday, 28 October 2021 and will conclude on Monday, 1 November 2021. Ahead of its IPO, Nykaa on Wednesday said it has raised Rs 2,396 crore from anchor investors.
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As of 12:15 IST, Nykaa IPO was subscribed 36% with the retail portion fully booked with 1.72 times, NSE data showed. The portion reserved for employees has been subscribed 0.20 times and non-institutional investors (NIIs) 0.08 times.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.84% to 17.6425. The Nifty 28 October 2021 futures were trading at 18,015.80, at a discount of 11.05 points as compared with the spot at 18,004.75.
The Nifty option chain for 28 October 2021 expiry showed maximum Call OI of 86.9 lakh contracts at the 18,200 strike price. Maximum Put OI of 63.3 lakh contracts was seen at 18,000 strike price.
The October 2021 F&O contracts expire today, 28 October 2021.
Buzzing Index:
The Nifty Realty index declined 2.53% to 502.90. The index rose 3.92% in the past two trading sessions.
Godrej Properties (down 3.96%), DLF (down 3.05%), IndiaBulls Real Estate (down 2.67%), Oberoi Realty (down 2.62%) and Brigade Enterprises (down 2.49%) were the major losers in the Realty segment.
Stocks in Spotlight:
KEC International skid 5.16% after the company reported 44% drop in consolidated net profit to Rs 80 crore on a 10% rise in revenue to Rs 3,587 crore in Q2 FY22 over Q2 FY21. EBITDA fell by 14% to Rs 253 crore in Q2 FY22 from Rs 293 crore in Q2 FY21. EBITDA margin was at 7.1% as on 30 September 2021 as against 9% as on 30 September 2020. Profit before tax in Q2 FY22 stood at Rs 101 crore, down by 48% from Rs 195 crore in Q2 FY21.
Larsen & Toubro (L&T) advanced 3.41% after the company said its construction arm has secured a large order for its buildings a factories business from Central Public Works Department (CPWD). The order is for construction of Common Central Secretariat Integrated Buildings 1, 2 and 3 in Plot 137, New Delhi with a built-up area of approximately 48.11 lakh sq. ft. The scope of work also involves demolition, civil works, finishes, external development, furniture, related MEP works and operation & maintenance for 5 years. The project is scheduled to be completed in 24 months.
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