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Stocks trade flat in lackluster trading

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Capital Market
Last Updated : Sep 30 2020 | 12:50 PM IST
Benchmarks continued to trade sideways with small gains near the flat line in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, rose 37.52 points or 0.1% at 38,010.22. The Nifty 50 index was up 7.45 points or 0.07% at 11,229.85.

In the broader market, the S&P BSE Mid-Cap index was up 0.17% while the S&P BSE Small-Cap index was up 0.01%.

The market breadth was negative. On the BSE, 1046 shares rose and 1260 shares fell. A total of 185 shares were unchanged.

US Presidential Elections:

US President Donald Trump and Joe Biden, the Democratic nominee, wrapped up their first presidential debate Tuesday night with heated exchanges over health care, the coronavirus and the future of the Supreme Court. Two more debates between the presidential candidates are scheduled to take place on 15 October and 22 October 2020. The US Presidential election is scheduled on Tuesday, 3 November 2020.

The Dow Jones Futures 30 were down 255 points, indicating a weak start in US markets today.

Derivatives:

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The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.67% to 19.9075. The Nifty September 2020 futures were trading at 11,248.70, at a premium of 21.05 points compared with the spot at 11,227.65.

The Nifty option chain for 1 October 2020 expiry showed maximum call open interest (OI) of 43.07 lakh contracts at the 11,300 strike price. Maximum put OI of 44.27 lakh contracts was seen at 11,000 strike price.

The Nifty option chain for 29 October 2020 expiry showed maximum Call OI of 18.67 lakh contracts at the 11,500 strike price. Maximum Put OI of 36.80 lakh contracts was seen at 10,500 strike price

Buzzing Segment:

The Nifty Metal index fell 1.92% to 2,237.10. The index surged 8% in the past three sessions.

Steel Authority of India (down 4.64%), Vedanta (down 2.82%), JSW Steel (down 2.76%), Jindal Steel & Power (down 2.76%), Tata Steel Ltd (down 2.51%), Coal India (down 2.17%), National Aluminium Company (down 1.82%), NMDC (down 1.75%) and Hindalco Industries (down 1.53%) declined.

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First Published: Sep 30 2020 | 12:24 PM IST

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