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Budget News

  • Market breadth turns negative; PSU banks tumble
  • September 24,2021  12:28
  • The key equity indices traded in a narrow range in early afternoon trade trade. The Nifty slipped below the 17,900 mark. PSU banks snapped two-day rising streak.

    At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 275.61 points or 0.46% to 60,160.97. The Nifty 50 index added 69.15 points or 0.39% to 17,892.10.

    The Sensex hit a record high of 60,333 while the Nifty hit an all-time high of 17,947.65 in morning trade.

    In the broader market, the S&P BSE Mid-Cap index slipped 0.28% while the S&P BSE Small-Cap index rose 0.10%.

    The market breadth turned negative. On the BSE, 1450 shares rose and 1682 shares fell. A total of 163 shares were unchanged.


    The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 3.73% to 17.22. The Nifty 30 September 2021 futures were trading at 17,895.40, at a premium of 3.30 points as compared with the spot at 17,892.10.

    The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 53.8 lakh contracts at the 18,500 strike price. Maximum Put OI of 43 lakh contracts was seen at 17,000 strike price.

    Buzzing Index:

    The Nifty PSU Bank index fell 1.12% to 2,374.75. The index had gained 1.67% in the past two sessions.

    Canara Bank (down 1.62%), Bank Of Baroda (down 1.38%), SBI (down 1.36%), Bank of India (down 1.01%) and Punjab National Bank (down 0.78%) were the top index gainers.

    COVID-19 Update:

    Total COVID-19 confirmed cases worldwide stood at 230,558,634 with 4,728,274 deaths. India reported 301,640 active cases of COVID-19 infection and 446,050 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

    A total of 84,09,03,125 COVID-19 vaccine doses have been administered in the country so far, with over 72.01 lakh doses being given yesterday, according to the Co-WIN dashboard.


    The Reserve Bank of India (RBI) Governor Shaktikanta Das said that there are signs that the world is emerging from the shadow of coronavirus. While delivering the keynote address at the 48th National Management Convention of the All India Management Association, Das said the time is right to plan for an economy that is stronger, more inclusive and sustainable.

    Stating that the pandemic has provided a new impetus to technology-driven companies such as fintech, edtech and health tech, RBI Governor Shaktikanta Das said the forces of 'creative destruction' are expected to boost productivity by encouraging greater competition, dynamism and innovation in several sectors of the economy.

    Talking about the achievements of India's manufacturing sector, Das said the country has turned from being an importer to an exporter of mobile phones. He said the trend is likely to spill over to other sectors also; enhancing India's share in the Global Value Chain and increasing the competitiveness of India's large and Micro, Small and Medium Enterprises.

    However, warning of uneven global recovery, the RBI Governor said multilateralism will lose credibility if it fails to ensure equitable access to vaccines across countries. He added that securing the health and immunity of the poor would mean a great leap towards inclusive growth.

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