The benchmark indices continued hovering near the day's low in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 333.42 points or 0.73% at 45,220.54. The Nifty 50 index slipped 98 points or 0.74% at 13,230.40.
Shares corrected across the globe on concerns that a fast-spreading new coronavirus strain found in Britain could disrupt a global economic recovery. Investors also locked profits ahead of year-end holidays.
The broader market tumbled. The S&P BSE Mid-Cap index fell 1.20% while the S&P BSE Small-Cap index lost 1.29%.
Sellers outpaced buyers. On the BSE, 721 shares rose and 2,031 shares fell. A total of 145 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 3.67% to 24.0425. The Nifty December 2020 futures were trading at 13,264.35, at a premium of 27.20 points compared with the spot at 13,237.15.
The Nifty option chain for 31 December 2020 expiry showed maximum Call OI of 23.14 lakh contracts at the 14,000 strike price. Maximum Put OI of 40.32 lakh contracts was seen at 13,000 strike price.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 7,73,64,641 with 17,02,596 deaths. India reported 2,92,518 active cases of COVID-19 infection and 1,46,111 deaths while 96,36,487 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
In the backdrop of a new strain of the coronavirus emerging in the United Kingdom, the Maharashtra government decided to impose a night curfew from 22 December in all the municipal areas of the state. The curfew will be in place from 11 pm to 6 am till 5 January 2020.
U.S. Stimulus:
The US House of Representatives has passed an $892 billion coronavirus aid package aimed at throwing a lifeline to the nation's pandemic-battered economy. The relief bill, which will become law if passed by the Senate and signed by President Donald Trump, includes $600 payments to most Americans as well as additional payments to the millions of people thrown out of work during the pandemic.
The White House has said Trump will sign the bill. The legislation also expands a small-business lending program by about $284 billion and steers money to schools, airlines, transit systems and vaccine distribution. The small-business loan and grant program, known as the paycheck protection program, will exclude publicly traded companies from eligibility.
Primary Market:
The initial public offer (IPO) of Antony Waste Handling Cell received bids for 1.67 crore shares as against 66.66 lakh shares on offer as on 22 December 2020, according to the National Stock Exchange (NSE) data at 12:00 IST. The issue was subscribed 2.51 times.
The issue opened for subscription yesterday (21 December 2020) and closes on Wednesday (23 December 2020). The price band for the IPO is set at Rs 313-315 per share. An investor can bid for a minimum of 47 equity shares and in multiples thereof.
The issue comprises of a fresh issue worth Rs 85 crore and an offer for sale (OFS) of 6,824,933 equity shares by existing shareholders. Shares will list on 1 January 2021 on bourses.
Buzzing Index:
The Nifty Media index dropped 3.25% to 1,535.30. PVR (down 8.53%), Inox Leisure (down 4.78%), Zee Entertainment Enterprises (down 3.69%), D B Corp (down 3.31%) and TV Today Network (down 2.24%) tumbled.
Stocks in Spotlight:
Cyient advanced 2.41%. Beijing Administration for Industry and Commerce has approved the de-registration of Cyient's wholly-owned subsidiary, "Cyient Engineering (Beijing)".
UFO Moviez India fell 0.88%. The board of UFO Moviez India on Monday (21 December 2020) approved the company's foray into film distribution business. The company has adopted a fee-based distribution model in which it does not take any financial risk in the content.
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