At 12:33 ST, the barometer index, the S&P BSE Sensex, dropped 426.41 points or 0.55% to 76,437.30. The Nifty 50 index fell 130.60 points or 0.55% to 23,740.75.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.13% and the BSE 250 SmallCap Index fell 0.03%.
The market breadth was negative. On the BSE, 1,779 shares rose and 2,209 shares fell. A total of 200 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 1.38% to 21.36. The Nifty 30 March 2026 futures were trading at 23,820.10, at a premium of 79.35 points as compared with the spot at 23,740.75.
The Nifty option chain for the 30 March 2026 expiry showed a maximum call OI of 52.2 lakh contracts at the 25,000 strike price. Maximum put OI of 53.3 lakh contracts was seen at the 24,000 strike price.
Buzzing Index:
The Nifty Private Bank index fell 1.12% to 26,184. The index dropped 3.5% in two consecutive trading sessions.
IndusInd Bank (down 4.37%), Bandhan Bank (down 2.09%), IDFC First Bank (down 1.71%), ICICI Bank (down 1.61%), Kotak Mahindra Bank (down 1.57%), Axis Bank (down 1.26%), and Yes Bank (down 1.02%) declined.
Stocks in Spotlight:
Gopal Snacks rose 3.29% after the company said its manufacturing operations remain unaffected despite the ongoing gas supply shortage triggered by recent government restrictions on commercial gas usage.
Aarti Industries (AIL) rallied 4.17% after it has entered into a multi-year supply agreement with a top global agrochemical innovator for a critical agrochemical intermediate used in crop-protection formulations.
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