The broader recovered. The S&P BSE Mid-Cap index was up 0.68% while the S&P BSE Small-Cap index was down 0.05%.
The market breadth, indicating the overall health of the market, was still negative. On the BSE, 936 shares rose and 1,182 shares fell. A total of 135 shares were unchanged. In Nifty 50 index the breadth was positive with 42 stocks advancing and 8 stocks declining.
Trading was earlier halted after the Nifty dropped by 10% to hit the lower circuit in opening deals. The market sharply recovered during the second pre-open session of the day. The market resumed at 10:05 IST for pre-opening session. Normal trading restarted from 10:20 IST.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 30.06% to 53.54. The Nifty February 2020 futures were trading at 9,645.10, a discount of 53.1 points compared with the spot at 9,698.20.
On the options front, the Nifty option chain for 26 March 2020 expiry showed maximum call open interest (OI) of 22.07 lakh contracts at the 12,000 strike price. Maximum call writing was witnessed at 9500 strike price, which added 2.78 lakh contracts. Call unwinding was seen at 11,000 strike price which shed 1.78 lakh contracts.
Maximum put OI of 26.99 lakh contracts was seen at 9,000 strike price. Put writing was observed at 8300 strike price which added 4.16 lakh contracts. Put unwinding was seen at 9300 strike price which shed 1.07 lakh contracts.
More From This Section
COVID-19 Crisis:
India reported its first confirmed Covid-19 death and the number of positive cases in the country neared 80. COVID-19 has so far claimed 4,600 lives while more than 126,000 people have been infected globally.
Prime Minister Narendra Modi clamped down on foreign travel by his ministers. The government temporarily barred the entry of foreigners by cancelling most visas till 15 April. These measures came in wake of the World Health Organization (WHO) declaring the spread a pandemic.
Buzzing Index:
The Nifty Auto index gained 1.2% to 6105.55, snapping its four days losing streak. The auto index slumped 12.2% in the past four trading sessions from its previous closing high of 6953.75 posted on 5 March 2020.
Among the auto companies, Hero MotoCorp (down 4.44%), Bajaj Auto (down 4.4%), TVS Motor Company (down 4.25%), Tata Motors (down 4.15%), Mahindra & Mahindra (down 2.88%), Ashok Leyland (down 2.21%), Escorts (down 1.95%), Eicher Motors (down 0.94%) and Maruti Suzuki India (down 0.21%) declined.
The Society of Indian Automobile Manufacturers (SIAM) announced auto sales figures for the month of February 2020. Domestic passenger vehicle sales declined by 7.61% to 251,516 units in February from 272,243 units in the year-ago month, automobile industry body SIAM said on Friday.
Car sales last month were also down 8.77% at 1,56,285 units as against 1,71,307 units in the February last year. Motorcycle sales last month declined by 22.02% at 8,16,679 units as against 10,47,356 units in the year-ago period. Total two-wheeler sales in February fell by 19.82% to 12,94,791 units as compared to 16,14,941 units in the same month last year.
Sales of commercial vehicles were down 32.9% to 58,670 units in February as against 87,436 units in the same month last year, SIAM said. Vehicle sales across categories registered a decline of 19.08% to 16,46,332 units from 20,34,597 units in January 2019, it said.
Stocks in Spotlight:
State Bank of India (SBI) announced that executive committee of central board (ECCB) at its meeting held on 11 March 2020 accorded approval for purchase of 725 crore shares in Yes Bank at Rs 10 per share, subject to all regulatory approvals. SBI's shareholding in Yes Bank will remain within 49% of the paid up capital of Yes Bank. Shares of SBI were trading 10.34% higher at Rs 234.75 while Yes Bank was trading 2.79% higher at Rs 25.75.
Sun Pharmaceutical Industries rallied 6.50% to Rs 377.90 after the company said its board will consider share buyback on Tuesday, 17 March 2020.
City Union Bank on Thursday (12 March 2020) said it has set up a branch in Bhilai (Chattisgarh), Morbi (Gujarat), Ramanathapuram (Tamil Nadu) and one branch each in Managalagiri, Auto Nagar and Tadepalligudem (Andra Pradesh). Shares of City Union Bank were trading 2.42% lower at Rs 185.40.
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