At 12:30 IST, the barometer index, the S&P BSE Sensex, dropped 660.01 points or 0.82% to 79,574.07. The Nifty 50 index fell 179.75 points or 0.74% to 24,095.15.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.03% and the S&P BSE Small-Cap index rose 0.60%.
The market breadth was strong. On the BSE, 2,306 shares rose and 1,502 shares fell. A total of 146 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.68% to 15.31. The Nifty 28 November 2024 futures were trading at 24,066.15, at a discount of 29 points as compared with the spot at 24,095.15.
The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 165.2 lakh contracts at the 24,300 strike price. Maximum Put OI of 117.8 lakh contracts were seen at 24,000 strike price.
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Buzzing Index:
The Nifty Auto index slipped 0.97% to 23,288.70. The index rose 0.45% in the past trading session.
Mahindra & Mahindra (down 2.70%), Eicher Motors (down 1.70%), Samvardhana Motherson International (down 1.32%), Balkrishna Industries (down 1.19%), Hero MotoCorp (down 1.04%), Maruti Suzuki India (down 0.86%), MRF (down 0.79%), Ashok Leyland (down 0.74%), Bajaj Auto (down 0.72%) and Apollo Tyres (down 0.42%) declined.
On the other hand, Exide Industries (up 2.52%), Bharat Forge (up 1.11%) and Tata Motors (up 0.09%) edged higher.
Stocks in Spotlight:
Borosil Renewables rose 0.66%. The companys board approved the appointment of Melwyn Moses as chief financial officer (CFO) of the company with effect from 2 December 2024.
Ajmera Realty & Infra India added 0.54%. The company has informed that it has repaid Rs 100 crore of its corporate debt.
BEML advanced 2.25% after the company announced that it has secured a contract worth Rs 3,658 crore from Chennai Metro Rail.
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