Nifty below 25,400 level; metal shares decline
At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 170.20 points or 0.20% to 83,069.27. The Nifty 50 index lost 54.15 points or 0.21% to 25,351.15.
The broader market outperformed frontline indices. The S&P BSE Mid-Cap index fell 0.13% and the S&P BSE Small-Cap index shed 0.05%.
The market breadth was negative. On the BSE, 1,919 shares rose and 1,933 shares fell. A total of 197 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.88% to 12.50. The Nifty 31 July 2025 futures were trading at 25,433, at a premium of 81.85 points as compared with the spot at 25,351.15.
The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 48.9 lakh contracts at the 26,000 strike price. Maximum put OI of 64.4 lakh contracts was seen at 25,000 strike price.
Buzzing Index:
The Nifty Metal index shed 0.86% to 9,540.50. The index fell 1.64% in two consecutive trading sessions.
Jindal Stainless (down 2.04%), Tata Steel (down 1.92%), Steel Authority of India (down 1.73%), Jindal Steel & Power (down 1.21%), JSW Steel (down 1.13%), Hindustan Copper (down 1.12%), APL Apollo Tubes (down 0.92%), Adani Enterprises (down 0.82%), NMDC (down 0.74%) and National Aluminium Company (down 0.44%) declined.
On the other hand, Lloyds Metals & Energy (up 1.31%) and Hindalco Industries (up 0.04%) edged lower.
Stocks in Spotlight:
Zinka Logistics Solutions rose 1.45% after the company announced that the Reserve Bank of India (RBI) has issued a Prepaid Payment Instruments (PPI) license to TZF Logistics Solutions, a wholly owned subsidiary of the company.
KP Green Engineering added 1.51% after the company announced that it has secured new orders totaling Rs 52.31 crore from multiple clients across five different segments.
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