The key equity barometers reversed gains and hit fresh intraday low in early afternoon trade. The Nifty slipped below the 17,900 mark. Metal stocks advanced.
At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 22.54 points or 0.04% to 60,006.52. The Nifty 50 index added 4.20 points or 0.02% to 17,893.15.
In the broader market, the S&P BSE Mid-Cap index shed 0.15% while the S&P BSE Small-Cap index lost 0.06%.
The market breadth turned positive. On the BSE, 1663 shares rose and 1447 shares fell. A total of 153 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.93% to 16.56. The Nifty 25 November 2021 futures were trading at 17,910, at a premium of 16.85 points as compared with the spot at 17,893.15.
The Nifty option chain for 25 November 2021 expiry showed maximum Call OI of 23 lakh contracts at the 19,000 strike price. Maximum Put OI of 24 lakh contracts was seen at 17,500 strike price.
Buzzing Index:
The Nifty Metal index rose 0.94% to 5,696.05. The index had declined 1.58% to end at 5,643.15 yesterday.
Hindalco Industries (up 2%), Vedanta (up 1.93%), JSW Steel (up 1.24%), Jindal Steel & Power (up 1.40%), Tata Steel (up 1.02%), Adani Enterprises (up 0.90%), National Aluminum Co. (up 0.55%) and Hindustan Zinc (up 0.24%) advanced.
Welspun Corp (down 1.12%), APL Apollo Tubes (down 0.43%), SAIL (down 0.33%) and Hindustan Copper (down 0.27%) declined.
Stocks in Spotlight:
Prince Pipes and Fittings shed 0.31% to Rs 757. The company reported a 63.4% increase in net profit to Rs 76 crore in Q2 FY22 from Rs 46.57 crore posted in Q2 FY21. Net sales grew by 66% to Rs 761 crore in Q2 FY22 from Rs 459 crore in Q2 FY21 led by plumbing and SWR portfolio, which delivered robust volume growth. Sales volume increased by 22% at 42,845 MT in Q2 FY22 as compared to 35,142 MT in Q2 FY21.
Adani Ports & Special Economic Zone (APSEZ) rose 0.95% to Rs 709.05. The company handled a cargo volume of 24.76 MMT (million metric tonnes) in October 2021, showing signs of recovery from September 2021, by recording a growth of 7% M-o-M (month-on-month).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
