The key equity indices traded with limited losses in early afternoon trade. The Nifty traded below the 24,250 mark. FMCG shares advanced after declining in the past two consecutive trading sessions. Trading could be volatile due to monthly F&O series expiry today.
At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 488.86 points or 0.60% to 79,453.01. The Nifty 50 index fell 119.80 points or 0.49% to 24,221.95.
In the broader market, the S&P BSE Mid-Cap index fell 0.35% and the S&P BSE Small-Cap index rose 0.76%.
The market breadth was strong. On the BSE, 2,415 shares rose and 1,249 shares fell. A total of 136 shares were unchanged.
Both, BSE and NSE will conduct the Muhurat trading session on Friday, 1 November, from 6:00 pm to 7:00 pm. While markets remain closed during the day, this evening session allows investors to make token investments, following a long-standing custom of trading during Diwali.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.20% to 16.01. The Nifty 31 October 2024 futures were trading at 24,215.40, at a premium of 6.55 points as compared with the spot at 24,221.95.
The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 293.1 lakh contracts at the 24,250 strike price. Maximum Put OI of 228.3 lakh contracts were seen at 24,200 strike price.
Buzzing Index:
The Nifty FMCG index fell 1.10% to 59,093.05. The index slipped 41.8% in past two trading sessions.
Balrampur Chini Mills (down 6.25%), Tata Consumer Products (down 1.98%), Marico (down 1.91%), Varun Beverages (down 1.68%) and Procter & Gamble Hygiene and Health Care (down 1.54%), Radico Khaitan (down 1.53%), Colgate-Palmolive (India) (down 1.38%), United Breweries (down 1.32%), Godrej Consumer Products (down 1.12%) and ITC (down 1.02%) declined.
Stocks in Spotlight:
DCM Shriram gained 2.09% after the company reported consolidated net profit surged 95.16% to Rs 62.92 crore on 10.79% rise in total revenue from operations to Rs 3,130.09 crore in Q2 FY25 over Q2 FY24.
Elpro International zoomed 9.22% after the company announced the acquisition of 33.33 lakh shares of Sagility India for a total consideration of Rs 10 crore.