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Barometers trade with minor cuts; bank shares under pressure
(09 Apr 2021, 12:25)

The key equity indices were trading with minor losses in early afternoon trade. Bank stocks declined for second day.

At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 32.88 points or 0.07% to 49,713.33. The Nifty 50 index lost 13.15 points or 0.09% to 14,860.65.

Sun Pharmaceutical Industries (up 4.10%), Hindustan Unilever (up 2.59%) and HDFC (up 0.64%) supported the indices.

Bajaj Finance (down 2.02%), L&T (down 1.02%) and Reliance Industries (down 0.67%) were major drags.

In broader market, the S&P BSE Mid-Cap index gained 0.40% while the S&P BSE Small-Cap index rose 0.91%.

The market breadth was strong. On the BSE, 1649 shares rose and 1072 shares fell. A total of 163 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.72% to 20.17. The Nifty 29 April 2021 futures were trading at 14,904.40, at a premium of 43.75 points as compared with the spot at 14,860.65.

The Nifty option chain for 15 April 2021 expiry showed maximum Call OI of 36.1 lakh contracts at the 15,000 strike price. Maximum Put OI of 24.4 lakh contracts was seen at 14,500 strike price.

The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 22.5 lakh contracts at the 15,000 strike price. Maximum Put OI of 37.6 lakh contracts was seen at 14,000 strike price.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 133,808,161 with 2,901,072 deaths.

India reported 979,608 active cases of COVID-19 infection and 167,642 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Buzzing Index:

The Nifty Bank index slipped 0.32% to 32,679.45. the index has declined by 0.94% in two sessions.

IDFC First Bank (down 2.26%), ICICI Bank (down 0.87%), HDFC Bank (down 0.65%), IndusInd Bank (down 0.48%) and Axis Bank (down 0.45%) declined.

Bank of Baroda (up 3.06%), Punjab National Bank (up 2.94%), Bandhan Bank (up 1.21%), Federal Bank (down 1.03%), SBI (up 0.67%) and Kotak Mahindra Bank (up 0.37%) advanced.

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