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NSE Nifty was down by 1.03 per cent or 228.90 points to 22,076.80, while the BSE Sensex was at 72,765.42, down by 0.95 per cent or 699.22 points. A total of 3,852 stocks were actively traded, of which 1,018 advanced, while 2,696 declined and 138 stocks remained unchanged; 150 stocks hit a 52-week high and 35 stocks hit a 52-week low at 1.50 pm on the BSE.
Shrey Jain, Founder and CEO, SAS Online, a deep discount broker, said, “Expectations for today’s weekly expiry suggest that the Nifty will likely hover within the broader range of 22,250 to 22,500 levels. Notably, the 22,500 call strike in Nifty holds a significant open interest (OI) of approximately 210 lakh shares, while on the put side, the 22,300 strike boasts substantial OI of around 108 lakh shares.
“Bank Nifty continues its underperformance with respect to Nifty, largely due to HDFC Bank’s ongoing decline. Analysis of option data indicates sizeable OI for both the 48,000 call and put options, signalling range-bound market activity. To initiate a fresh upward movement, it will be crucial for the index to sustain above 48,500.
“The ongoing results season and union elections have led to increased volatility in the market — a trend expected to persist in the weeks ahead. Given this scenario, investors are advised to exercise caution in their short-term outlook.”
Major gainers on the NSE include Hero Motocorp (3.99%), M&M (2.64%), Tata Motors (2.60%), Bajaj Auto (1.63%), HCL Tech (1.39%). Major losers include L&T (-5.15%), Divi’s Lab (-2.99%), Tata Consumer (-2.16%), Coal India (-2.10%), ONGC (-1.95%).
BSE Smallcap was down by 1.68 per cent and Midcap down by 1.39 per cent.
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