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Mid - Session

Market behaviours during the course of the trading session.

Market trades near day's low; NSE VIX soars 28%

26-Feb-21 12:28 Hrs IST

The benchmark indices hit fresh intraday low in early afternoon trade. The Nifty held above the 14,600 mark. A spike in domestic and global bond yields coupled with rising coronavirus cases spoiled investors' appetite for risk assets.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 1653.57 points or 3.24% to 49,385.74. The Nifty 50 index tumbled 489.75 points or 3.24% to 14,607.60.

In the broader market, the S&P BSE Mid-Cap index shed 2.15% while the S&P BSE Small-Cap index slipped 1.21%. Both these indices outperformed the benchmark indices.

The market breadth was weak. On the BSE, 826 shares rose and 1915 shares fell. A total of 136 shares were unchanged.

The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday.

Foreign portfolio investors (FPIs) bought shares worth Rs 188.08 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 746.57 crore in the Indian equity market on 25 February, provisional data showed.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 28.37% to 23.91. The Nifty 25 March 2021 futures were trading at 14,615, at a premium of 7.4 points as compared with the spot at 14,607.60.

The Nifty option chain for 25 March 2021 expiry showed maximum Call OI of 20.3 lakh contracts at the 16,000 strike price. Maximum Put OI of 32.3 lakh contracts was seen at 14,000 strike price.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 112,981,257 with 2,507,271 deaths. India reported 155,986 active cases of COVID-19 infection and 156,825 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Buzzing Index:

The Nifty Realty index fell 2.12% to 348.80. The index rose 5.3% in the past three sessions.

Prestige Estates (down 5.01%), DLF (down 3.77%), Indiabulls Real Estate (down 3.70%), Sobha Developers (down 2.61%), Godrej Properties (down 2.53%) and Oberoi Realty (down 1.25%) declined.

Stocks in Spotlight:

South Indian Bank surged 4.16% to Rs 9.27. The bank's board has approved issuance of up to 28.30 crore shares to HDFC Life Insurance Company, Kotak Mahindra Life Insurance Company, SBI Life Insurance Company and ICICI Lombard General Insurance Company, at a price of Rs 8.48 per equity share aggregating to Rs 239 crore, on a preferential basis.

Mahindra Lifespace Developers rose 1.71% to Rs 518.75. The company has acquired 7.89 acres of land to develop a residential project in Kanakpura Road, Bengaluru. The project will offer approximately 5 lakh sq. ft. of carpet area. The launch of the project is planned for FY 2022. Kanakpura Road is a prominent residential hub in Bengaluru and one of the city's relatively greener areas.