The domestic equity barometers continued to trade with limited losses in early afternoon trade. The Nifty traded above the 18,100 level. Consumer durable stocks witnessed significant selling pressure. Trading is expected to be volatile due to expiry of weekly index options on the NSE.
At 12:22 IST, the barometer index, the S&P BSE Sensex, was down 87.98 points or 0.14% to 60,957.76. The Nifty 50 index lost 36.50 points or 0.2% to 18,128.85.
In the broader market, the S&P BSE Mid-Cap index fell 0.09% while the S&P BSE Small-Cap index rose 0.02%.
The market breadth was negative. On the BSE, 1,573 shares rose, and 1,767 shares fell. A total of 152 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 0.83% to 14.25. The Nifty 25 January 2022 futures were trading at 18,203.25, at a premium of 31.6 points as compared with the spot at 18,171.65.
The Nifty option chain for the 25 January 2022 expiry showed maximum Call OI of 41.4 lakh contracts at the 18,200 strike price. Maximum Put OI of 62.8 lakh contracts were seen at 18,000 strike price.
Buzzing Index:
The Nifty Consumer Durables index lost 0.59% to 24,623.75. The index had advanced 0.47% to end at 24,770.75 yesterday.
Rajesh Exports (down 1.69%), Voltas (down 1.51%), Relaxo Footwears (down 1.38%), Kajaria Ceramics (down 1.2%) and Titan Company (down 1.08%) were the top losers.
Among the other losers were Blue Star (down 0.77%), Havells India (down 0.63%), TTK Prestige (down 0.2%) and Bata India (down 0.08%).
On the other hand, V-Guard Industries (up 1.51%), Orient Electric (up 1.11%) and Amber Enterprises India (up 0.64%) turned up.
Stocks in Spotlight:
Oracle Financial Services Software shed 0.61%. The company has reported a consolidated net profit of Rs 437.33 crore in Q3 FY23, which is higher by 10% as compared with PAT of Rs 397.75 crore recorded in Q2 FY23. Revenue rose by 5% QoQ to Rs 1,449.30 crore during the period under review. As compared with Q3 FY22, the company's net profit and revenue are higher by 0.4% and 14%, respectively.
Ashok Leyland lost 0.64%. The Hinduja Group company on Thursday (19 January 2023) announced that it will supply 500 buses to Sri Lankan Transport Board (SLTB).
Maruti Suzuki India slipped 0.12%. The company said that it has commenced exports of its premium SUV Grand Vitara to Latin America from the Kamarajar port recently. The company aims to export Grand Vitara to more than 60 countries across Latin America, Africa, Middle East, ASEAN and neighboring regions.
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