A Volatile F&O Expiry
Indian equities endured sharp swings on either side as the March series F&O expiry had a volatile close.
The S&P BSE Sensex ended 1.5% lower at 48,440 while the NSE Nifty 50 too fell 1.5% to end at 14,324. 45 out of the 50 index constituents ended with losses. The top contributor to the downside was Reliance Industries which fell over 2.5% and was down for the second day in a row.
Benchmark indices had nearly pared losses courtesy a recovery in banks and metal stocks but the recovery was swiftly sold into. This is the second F&O series loss posted by the markets in 2021.
Sectoral indices too endured a volatile trading session. The Nifty Media index ended as the top sectoral laggard with losses of 3%. The Nifty Auto index was among the top sectoral laggards, ending 2.8% lower.
The PSU Bank index, which fell as much as 5% during the session, recovered from the day's low to end with losses of 2.6%. The Nifty FMCG and Nifty I.T. indices too saw losses of over 2% in today's session. The realty index also saw declines of 2.5%.
The Nifty Bank index, which fell over 800 points intraday, saw a bout of recovery and ended 0.8% lower, just above the mark of 33,000 at 33,006. The Nifty Metal index was the only sectoral index that ended with a positive bias.
Broader markets underperformed the benchmark indices in today's session. The Nifty Midcap index fell 2% while the Smallcap index declined 2.2%.
Despite the heavy volatility, the India Volatility index rose only 1% to end at 22.7.
1,544 stocks on the NSE ended lower while 367 managed to post gains.
How Did The Sectoral Indices Fare
The Pinch Of Bigger Grocery Bills
Tata Steel, SAIL Lead Recovery On Metal Index
Booming Illegal Cigarette Trade
Morepen Laboratories Warrants Issue
- Approves allotment of 3.5 crore fully convertible warrants, each carrying a right to subscribe to an equal number of equity shares for cash.
- Warrants issued at a price of Rs 25 per share which is a 22.8% discount to Wednesday's closing price.
- Warrants allotted on a preferential basis to the entities belonging to the promoter group
- The warrants entitle the allottees to apply for and be allotted equal number of equity shares for each warrant held by them on payment of the balance 75% of the issue price within 18 months.
Benchmark Indices Recover From Day's Low
- Nifty down 1% at 14,407 - 140 points off the day's low
- Sensex down 1% at 48,714 - 480 points off the day's low
- Nifty Bank down 0.3% at 33,208 - 800 points off the day's low
- Nifty Midcap index down 1.5%
- Nifty Smallcap index down 1.7%
- India Volatility Index unchanged at 22.45
- Nifty Media index is the top sectoral laggard; down 2.5%
- Nifty FMCG and PSU Bank index down 2% each
- Nifty Auto and Nifty Realty down 1.7% each while I.T. index down 1.4%
- Metal index recovers from the day's low; up 0.2%
- Tata Steel is the top Nifty gainer; up 2.8%
- Indian Oil Corporation is the top Nifty laggard; down 3.3%
- 1,573 stocks on the NSE trade with losses while 326 advance
Adani's Infrastructure Behemoth
All Stocks On The Media Index Decline
Pokarna Shares At Three-Year High
Also Read: What Triggered A Rally In Pokarna’s Stock
Wabco India Shares Fall Most In A Year
Dixon Tech Lowest In Nearly Two Months
- Top laggard on the Nifty Smallcap index
- Falls as much as 9% to Rs 3,345
- Biggest single-day drop in a year
- Down for the fourth straight day
- Has declined 20% over the last four trading sessions
- Today's volumes are more than double its 20-day average
- Relative Strength Index (RSI) heading to oversold zone; currently at 36
- 14 out of the 20 analysts tracking the stock have a buy rating; 1 sell call
- The stock trades 7% below its 12-month Bloomberg consensus price target of Rs 3,129
Motherson Sumi Leads Losses On Auto Index
Benchmark Indices Near The Day's Low
- Nifty down 1.3% at 14,357
- Sensex down 1.3% at 48,531
- Nifty Bank down 1.7% at 32,716
- Nifty Midcap index down 2.4%
- Nifty Smallcap index down 2.4%
- India Volatility Index up 0.5% to 22.6
- PSU Bank index remains the top sectoral laggard; down 4.5%
- Nifty Auto, Nifty Realty and Nifty Media indices down 2.8% each
- Nifty I.T. and Nifty FMCG indices down 1.4% each
- Grasim is the only gainer on the Nifty 50 index; up 0.2%
- Maruti Suzuki is the top Nifty laggard; down 3.7%
- 1580 stocks on the NSE decline while 272 trade higher
A Steady Debut
M&M Financial Near Two-Month Low
- Among top laggards on the PSU Bank index
- Falls as much as 5.7% to Rs 191
- Biggest single-day drop in a month
- Down for the fourth straight day
- Has fallen as much as 10.5% over the last four days
- Today's volumes are 56% above its 20-day average
- One-month implied volatility at 76%
- Relative Strength Index (RSI) of the stock at 42
- 22 out of the 34 analysts tracking the stock have a buy rating; two sell calls
- The stock trades near its 12-month Bloomberg consensus price target of Rs 191
What Do Analysts Make Of Jubilant's Recent Foray
PSU Bank Index Down For The Second Day
Fund Raising Through Rights Issue
Benchmark Indices Decline For The Second Straight Day
- Nifty down 0.8% at 14,432
- Sensex down 0.8% at 48,771
- Nifty Bank down 0.9% at 33,010
- Nifty Midcap index down 1.2%
- Nifty Smallcap index down 1.6%
- India Volatility Index little changed at 22.5
- PSU Bank index is the top sectoral laggard; down 2.1%
- Nifty Realty and Nifty Media indices fall 1.7% each
- Nifty Auto and Nifty I.T. indices decline 1.3% each
- Tata Steel is the top Nifty gainer; up 1.4%
- Tata Motors is the top Nifty laggard; down 2.2%
- 41 out of the 50 index constituents trade lower
- 1,453 stocks on the NSE trade lower while 320 are holding on to gains
Switching To The Fast Lane
A Subdued Start To Expiry Day Trading
Indian equities have begun the March F&O series expiry session on a tepid note as sentiment across the globe remains cautious, even as bond yields are cooling off. Rising coronavirus cases in India is keeping investor sentiment in check.
The S&P BSE Sensex opened 20 points higher at 49,201 while the NSE Nifty 50 index rose 0.1% at the start of trade to 14,570. Both benchmark indices fell to their lowest in a month after Wednesday's sell-off.
Sectoral indices have had a mixed start to trade. The Nifty Bank index is up 0.4% or over 100 points, only to give up all the gains in the early minutes of trade. The PSU Bank index is up 0.2%. Metal index rose 0.3% while Nifty Auto and Nifty I.T. indices have opened with a negative bias.
Broader markets have opened with modest gains this morning. The Nifty Midcap index is up 0.3% while the Smallcap index rose 0.26% at the start of trade.
906 stocks on the NSE opened with gains while 687 stocks are trading lower.
March F&O Series Expiry
Good Morning!
Indian equities fell the most in a month on Wednesday as rising coronavirus cases continued to take a toll on investor sentiment.
Selling was led by PSU banks, metals, along with index heavyweight Reliance Industries.
Only the Nifty Pharma index bucked the trend despite ending off the day's high. The index ended little changed after trading with gains of over 1% for most parts of the day.
Futures have recovered from the session's lows and are indicating a flat start to Thursday's F&O expiry session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.1% to 14,671, as of 8:05 a.m.
Asian equities are mixed this morning with markets in China and Hong Kong retreating. Japanese markets trade higher despite North Korea firing two ballistic missiles.
- Futures on the Dow Jones are trading 130 points higher. The index ended flat on Wednesday.
- Yield on the 10-year treasuries stood at 1.62% ahead of the seven-year debt auction tonight.
- West Texas Intermediate crude fell 2% to $60 per barrel after a 6% jump overnight.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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