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Sensex slumps over 830 pts; IT shares decline     Back
(12:33, 19 Dec 2024)
The headline equity indices continued to trade with major losses in early afternoon trade, mirroring the negative sentiment in the global markets after the US Federal Reserve’s interest rate decision. The Nifty traded below the 24,000 level. IT shares declined after advancing in the previous trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, tumbled 832.52 points or 1.04% to 79,355.91. The Nifty 50 index dropped 219.50 points or 0.91% to 23,979.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.30% and the S&P BSE Small-Cap index fell 0.76%.

The market breadth was weak. On the BSE, 1,553 shares rose and 2,322 shares fell. A total of 110 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.26% to 14.34. The Nifty 26 December 2024 futures were trading at 24,040, at a premium of 60.65 points as compared with the spot at 23,979.35.

The Nifty option chain for the 26 December 2024 expiry showed a maximum Call OI of 78 lakh contracts at the 25,000 strike price. Maximum put OI of 71.2 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty IT index declined 1.29% to 44,938.15. The index added 0.24% in the past trading session.

LTIMindtree (down 4.57%), Infosys (down 2.56%), Mphasis (down 2.39%), L&T Technology Services (down 1.84%), Tech Mahindra (down 1.53%), HCL Technologies (down 1.29%), Tata Consultancy Services (down 1.24%), Wipro (down 1.07%) slipped.

On the other hand, Coforge (up 1.41%) and Persistent Systems (up 0.62%) added.

Stocks in Spotlight :

Spicejet jumped 7.32% after the company reached an amicable settlement with Genesis, resolving their over $16 million dispute.

Nazara Technologies fell 1.76%. The company said that its subsidiary Nodwin Gaming has entered into a share purchase agreement with AFK Gaming and its shareholders for acquiring a 92.30% stake in AFK for an aggregate consideration of Rs 7.58 crore.

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