The key equity barometers traded with significant trade. The Nifty traded below the 19,650 mark. FMCG shares witnessed across the board selling.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 330.29 points or 0.50% to 65,788.40. The Nifty 50 index lost 100.75 points or 0.51% to 19,615.70.

In the broader market, the S&P BSE Mid-Cap index fell 0.22% while the S&P BSE Small-Cap index rose 0.34%.

The market breadth was positive. On the BSE, 1,883 shares rose and 1,614 shares fell. A total of 170 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, zoomed 8.13% to 12.53. The Nifty 26 October 2023 futures were trading at 19,717.10, at a discount of 5.55 points as compared with the spot at 19,615.70.

The Nifty option chain for the 26 October 2023 expiry showed maximum Call OI of 20.5 lakh contracts at the 20,000 strike price. Maximum Put OI of 48.2 lakh contracts were seen at 19,500 strike price.

Buzzing Index:

The Nifty FMCG index declined 1% to 51,804.85. The index had gained 1.40% in the past three sessions.

Marico (down 2.45%), Colgate-Palmolive (India) (down 1.97%), ITC (down 1.21%), Dabur India (down 1.19%) and United Spirits (down 1.13%) were the top losers.

Among the other losers were Nestle India (down 1.05%), Britannia Industries (down 0.99%), Hindustan Unilever (down 0.82%), Tata Consumer Products (down 0.64%) and United Breweries (down 0.5%).

Stocks in Spotlight:

JSW Steel shed 0.47%. The steel major on Friday announced that it has acquired the remaining 50% stake in NSL Green Steel Recycling (NSL) from National Steel Holding (NSHL).

Gujarat State Petronet slipped 1.77%. CARE Ratings has reaffirmed its rating long-term/short-term bank facilities of the company at CARE AA+; Stable/CARE A1+.

Gensol Engineering jumped 4.42%. Gensol EV Lease bagged an order for more than 500 Tata Ace cargo electric vehicles (EVs) valued at Rs 75 crore from an all-electric logistics company. Gensol EV Lease is an EV-focused leasing solutions provider and a subsidiary of Gensol Engineering.

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