Key barometers were trading with modest losses in early afternoon trade. At 12:23 IST, the barometer index, the S&P BSE Sensex, was down 137.18 points or 0.43% at 32,063.41. The Nifty 50 index was up 15.85 points or 0.17% at 9,474.25.
Investors remained on the sidelines ahead of the release of India's Q4 FY20 GDP figures today. Traders were also cautious amid rising cases of coronavirus in India. Locust attacks have also raised worries on farm output, besides tensions at the India-China border.
The broader market was trading firm. The S&P BSE Mid-Cap index gained 1.11% while the S&P BSE Small-Cap index added 1.23%.
The market breadth was positive. On the BSE, 1274 shares rose and 779 shares fell. A total of 143 shares were unchanged. In the Nifty 50 index, 33 shares advanced while 17 stocks declined.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,354.14 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 144.83 crore in the Indian equity market on 28 May, provisional data showed.
Covid-19 Update:
Total COVID-19 confirmed cases worldwide stood at 58,13,997 far with 3,60,397 deaths. India reported 89,987 active cases of COVID-19 infection and 4,706 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.89% to 29.74. The Nifty June 2020 futures were trading at 9,424, a discount of 50.25 points compared with the spot at 9,474.25.
On the options front, the Nifty option chain for 25 June 2020 expiry showed maximum call open interest (OI) of 19.35 lakh contracts at the 10,000 strike price. Maximum put OI of 23.40 lakh contracts was seen at 9,000 strike price.
Buzzing Index:
The Nifty Private Bank index slipped 0.81% to 10,420.75 on profit booking. The index has added 11.5% in the past three sessions while the benchmark Nifty 50 index gained 5% during the same period.
Bandhan Bank (down 3.2%), Axis Bank (down 2.41%), HDFC Bank (down 1.44%), Kotak Mahindra Bank (down 0.81%), ICICI Bank (down 0.61%) and Yes Bank (down 0.19%) declined.
Federal Bank (up 3.51%), City Union Bank (up 1.97%), IndusInd Bank (up 1.12%) and RBL Bank (up 0.77%) advanced.
Stocks in Spotlight:
Karnataka Bank fell 1.66% to Rs 35.60. The Reserve Bank of India has imposed a monetary penalty of Rs 1.20 crore on the bank for divergence in respect of NPAs and non-adherence to Income Recognition and Asset Classification (IRAC) norms with reference to financial position as on 31 March 2017 and 31 March 2018. The bank said that it had already made full provision, there is no other financial impact other than the penalty amount.
KPIT Technologies hit an upper circuit of 5% at Rs 49.20, extending gains for fifth day. The stock has added 20.2% in five sessions. CLS Investments bought 19.99 lakh shares or 0.73% stake in the company yesterday (on 28 May 2020) at an average price of Rs 46.91 per shares.
Cadila Healthcare rose 1.82% to Rs 344.20. the company's formulations manufacturing facility located at Baddi, Himachal Pradesh received an establishment inspection report (EIR) from the US drug regulator.
The EIR report stated that the classification of the facility is 'No Action Indicated (NAI)'. The United States Food & Drug Administration (US FDA) had conducted the inspection at the facility from 2nd to 9th March 2020. The audit had ended with 'nil' observations, Cadila said.
Vodafone Idea surged 29.38% to Rs 7.53. The media reported that Google was looking to make an investment in the Indian telecom company. Any such investment could prove to be a breather for Vodafone Idea which has been reeling under increasing financial stress, the reports added.
Powered by Capital Market - Live News