Indices range bound; Ujjivan Small Fin Bank jumps 7%

The main indices traded sideways with small losses in early afternoon trade. The Nifty hovered at the 17,900 mark. The Sensex slipped below the psychological resistance of 60,000. IT shares saw selling for second day while consumer durables and auto stocks saw buying.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 164.56 points or 0.27% at 59,971.22. The Nifty 50 index fell 51 points or 0.28 % to 17,894.95.

The broader market traded with tiny gains. The S&P BSE Mid-Cap index rose 0.12% while the S&P BSE Small-Cap index was up 0.03%.

The market breadth turned negative. On the BSE, 1556 shares rose and 1662 shares fell. A total of 148 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.34% to 16.14. The Nifty 28 October 2021 futures were trading at 17,895, at a discount of 8 points as compared with the spot at 17,903.

The Nifty option chain for 28 October expiry showed maximum Call OI of 24.4 lakh contracts at the 18,000 strike price. Maximum Put OI of 32.3 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Consumer Durable index jumped 1.77% to 29,458.05, extending its winning run to third trading session. The consumer durable index added 8% in three days.

Titan Company (up 3.9%), Dixon Technologies (up 2.12%), V-Guard Inds (up 1.38%), Havells India (up 1.23%), Bata India (up 1.23%) and Whirlpool of India (up 1%) were top gainers.

Stocks in Spotlight:

Larsen & Toubro (L&T) fell 0.68%. The EPC major said that its construction arm has secured various 'significant' orders in India for its various businesses. As per L&T's classification, the value of the said contracts lies between Rs 1,000 crore and Rs 2,500 crore.

Ujjivan Small Finance Bank jumped 7.69% to Rs 22.40 after the bank's total deposits increased by 31% to Rs 14,090 crore in Q2 FY22 from Rs 10,743 crore in Q2 FY21. The total deposits have risen by 3% from Rs 13,673 crore in Q1 FY22. CASA was at Rs 3,168 crore as on 30 September 2022 as against Rs 1,769 crore as on 30 September 2021 and Rs 2,773 crore as on 30 June 2021. CASA ratio was at 22% as on 30 September 2022 as against 16% as on 30 September 2021 and 20% as on 30 June 2021. The bank's gross loan book has increased by 4% to Rs 14,508 crore in Q2 FY2 from Rs 13,890 crore in Q2 FY21. It is higher by 3% as compared with Rs 14,037 crore recorded in Q1 FY21.

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