The domestic equity barometers traded flat in early afternoon trade. The Nifty traded tad above the 18,100 level. Realty stocks declined for second day in a row.
At 12:26 IST, the barometer index, the S&P BSE Sensex, was down 2.03 points to 60,856.40. The Nifty 50 index added 1 point or 0.01% to 18,108.85.
In the broader market, the S&P BSE Mid-Cap index fell 0.17% while the S&P BSE Small-Cap index shed 0.03%.
The market breadth was positive. On the BSE, 1781 shares rose, and 1590 shares fell. A total of 163 shares were unchanged.
Investor sentiment remained negative after the US reported lower-than-expected weekly unemployment claims, a sign of a robust labour market. This might result in the Fed maintaining its aggressive rate hike policy, increasing the likelihood that the world's largest economy would experience a recession.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.70% to 13.58. The Nifty 25 January 2022 futures were trading at 18,127.15, at a premium of 18.3 points as compared with the spot at 18,108.85.
The Nifty option chain for the 25 January 2022 expiry showed maximum Call OI of 133.3 lakh contracts at the 18,100 strike price. Maximum Put OI of 126.8 lakh contracts were seen at 18,100 strike price.
Buzzing Index:
The Nifty Realty index lost 0.48% to 428.50. The index has declined 0.57% in two sessions.
Godrej Properties (down 0.9%), DLF (down 0.77%), Oberoi Realty (down 0.64%), Prestige Estates Projects (down 0.64%) and Indiabulls Real Estate (down 0.59%) were the top losers.
Among the other losers were Phoenix Mills (down 0.49%), Sunteck Realty (down 0.2%) and Brigade Enterprises (down 0.18%).
Stocks in Spotlight:
Bata India shed 0.82%. The footwear major on Thursday announced that its board of directors has appointed Anil Somani as the chief financial officer (CFO) and key managerial personnel (KMP) of the company.
Mphasis slipped 1.41%. The IT reported 1.5% fall in consolidated net profit to Rs 412.3 crore on a 0.4% declin in revenue from operations to Rs 3,506.2 crore in Q3 FY23 over Q2 FY23.
Sterling and Wilson Renewable Energy rose 3.83%. The company reported a consolidated net loss of Rs 101.24 crore in Q3 FY23 as against a net loss of Rs 422.41 crore posted in Q3 FY22. Revenue from operations slumped 72.8% to Rs 406.96 crore in the quarter ended 31 December 2022 from Rs 1,494.86 crore recorded in Q3 FY22.
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