Key benchmark indices further extended losses and hit the day's low in early afternoon trade. At 12:23 IST, the barometer index, the S&P BSE Sensex, was down 513.92 points or 1.40% at 36,179.77. The Nifty 50 index fell 158.90 points or 1.47% at 10,643.80.
Negative global cues and rising global coronavirus cases dented investors' sentiment. In the broader market, the S&P BSE Mid-Cap index slipped 1.08% while the S&P BSE Small-Cap index lost 1.05%.
Sellers outpaced buyers. On the BSE, 654 shares rose and 1770 shares fell. A total of 127 shares were unchanged.
Coronavirus Update:
India reported 3,11,565 active cases of COVID-19 infection and 23,727 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Total coronavirus cases worldwide stood at 13,103,290 with 573,042 deaths so far, according to data from Johns Hopkins University.
Economy:
India's inflation based on wholesale price index (WPI) contracted by 1.81% (provisional) in June 2020 (over June 2019) compared with 2.02% during the corresponding month of the previous year. WPI contracted by 3.21% in May 2020.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.62% to 26.6725. The Nifty July 2020 futures were trading at 10,643.95, at a premium of 0.15 points compared with the spot at 10,643.80.
On the weekly index options front, the Nifty option chain for 16 July 2020 expiry showed maximum Call Open Interest (OI) of 47.54 lakh contracts at the 10,800 strike price. Maximum Put OI of 24.28 lakh contracts was seen at 10,500 strike price.
On the monthly index options front, the Nifty option chain for 30 July 2020 expiry showed maximum Call OI of 27.32 lakh contracts at the 11,500 strike price. Maximum Put OI of 33.15 lakh contracts was seen at 10,000 strike price.
Buzzing Index:
The Nifty Auto index lost 2.23% to 6,926.35. The index advanced 0.62% yesterday to end at 7,084.45.
Among auto makers, Maruti Suzuki (down 3.05%), Hero MotoCorp (down 2.94%), Eicher Motors (down 3%), Ashok Leyland (down 2.95%), Tata Motors (down 2.73%), TVS Motor Company (down 1.94%), Mahindra & Mahindra (down 1.66%) and Bajaj Auto (down 0.85%) declined
Stocks in Spotlight:
BF Utilities hit an upper circuit of 10% at Rs 220.95 after billionaire investor and DMart founder, Radhakishan Shivkishan Damani, acquired 1.30% stake in the Kalyani Group-owned company during April-June 2020 quarter.
Meanwhile, BF Utilities on Monday (13 July) announced that it has suspended operations at its Pune office from 14 July 2020 till further notice, to comply with the lockdown order issued by Pune Municipal Corporation.
Sobha was up 0.75% to Rs 233.85. Godrej Group's promoter entity Anamudi Real Estates increased its stake in Sobha to 9.99% in Q1 June 2020 from 1.08% in Q4 March 2020.
On Monday (13 July) the realtor said that post easing of lockdown in first week of May, all its offices, sites and factories got operational in line with respective state rules and regulations. However, labor migration had an adverse impact on the company's operations at project sites and factories. During April and May months, the company's sales dipped, but from June onwards sales improved and inquiries shot up to pre-Covid levels
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