Barometers trade with modest gains; metal shares shine
At 12:30 IST, the barometer index, the S&P BSE Sensex, added 351.20 points or 0.43% to 82,540.19. The Nifty 50 index rose 114.20 points or 0.46% to 25,117.45.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.93% and the S&P BSE Small-Cap index added 1.11%.
The market breadth was strong. On the BSE, 2,777 shares rose and 1,248 shares fell. A total of 180 shares were unchanged.
Economy:
Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.
For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data.
The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.
Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.46% to 14.70. The Nifty 26 Jun 2025 futures were trading at 25,190, at a premium of 72.55 points as compared with the spot at 25,117.45.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 57.4 lakh contracts at the 26,000 strike price. Maximum put OI of 48.5 lakh contracts was seen at 24,000 strike price.
Buzzing Index:
The Nifty Metal index rose 1.18% to 9,517.35. The index added 4.33% in the past four trading sessions.
Hindustan Zinc (up 4.45%), Jindal Stainless (up 4.22%), NMDC (up 2.76%), Vedanta (up 2.71%), Lloyds Metals & Energy (up 2.58%), Hindustan Copper (up 1.61%), Adani Enterprises (up 1.53%), Jindal Steel & Power (up 1.42%), JSW Steel (up 0.65%), and Tata Steel (up 0.32%) advanced.
On the other hand, Welspun Corp (down 1.38%), APL Apollo Tubes (down 1.28%) and Steel Authority of India (down 0.32%) edged lower.
Stocks in Spotlight:
Persistent Systems added 1.72% after the companys board has approved the re-appointment of Dr. Anand Deshpande as the managing director (MD) of the company for a next term of 5 consecutive years.
Glenmark Pharmaceuticals rose 0.63%. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI).
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