Nifty below 17,900 level, NSE India VIX spurts over 3%

The benchmark indices traded with modest losses in the early afternoon trade. The Nifty traded below the 17,900 mark after hitting a day's high of 17,954.65 in the morning trade. IT stocks witnessed some bit of selling pressure. Trading was volatile due to the expiry of weekly index options on the NSE today.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was down 223.04 points or 0.37% to 60,037.09. The Nifty 50 index lost 60.90 points or 0.34% to 17,883.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% while the S&P BSE Small-Cap index gained 0.17%.

The market breadth was positive. On the BSE, 1,785 shares rose and 1,514 shares fell. A total of 131 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, gained 3.12% to 18.23. The Nifty 25 August 2022 futures were trading at 17,882.05, at a discount of 1.3 points as compared with the spot at 17,883.35.

The Nifty option chain for the 25 August 2022 expiry showed maximum Call OI of 48.2 lakh contracts at the 18,000 strike price. Maximum Put OI of 34.3 lakh contracts were seen at 17,500 strike price.

Buzzing Index:

The Nifty IT index declined 1.14% to 29,910.80.The index added 1.23% in the past two trading sessions.

Wipro (down 1.75%), Infosys (down 1.48%), Mphasis (down 1.47%), Mindtree (down 1.4%), Coforge (down 1.37%), Larsen & Toubro Infotech (down 1.33%), HCL Technologies (down 0.98%), Tata Consultancy Services (down 0.9%), Tech Mahindra (down 0.86%) edged lower.

IPO Updates:

The initial public offer (IPO) of electronic manufacturing services firm Syrma SGS Technology received bids for 12,77,69,688 shares as against 2,85,63,816 shares on offer, according to stock exchange data at 12:15 IST on Thursday (18 August 2022). The issue was subscribed 4.47 times.

The issue opened for bidding on Friday (12 August 2022) and it will close on Thursday (18 August 2022). The price band of the IPO is fixed at Rs 209-220 per share. An investor can bid for a minimum of 68 equity shares and in multiples thereof.

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