Nifty trades above 25,250; metal shares rally for 3rd day
The domestic equity indices traded with significant gains in the early afternoon trade, tracking a sharp rally in Asian markets after US President Donald Trump announced a ceasefire agreement between Iran and Israel. The easing of geopolitical tensions led to a pullback in global crude oil prices, providing further support to domestic equities.
The Nifty traded above the 25,250 mark. Metal shares witnessed buying demand for the third consecutive trading session.
At 12:30 ST, the barometer index, the S&P BSE Sensex, zoomed 996.28 points or 1.22% to 82,893.77. The Nifty 50 index rallied 309.25 points or 1.24% to 25,281.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.95% and the S&P BSE Small-Cap index added 1.12%.
The market breadth was strong. On the BSE, 2,869 shares rose and 946 shares fell. A total of 175 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.54% to 13.69. The Nifty 26 Jun 2025 futures were trading at 25,313.80, at a premium of 32.35 points as compared with the spot at 25,281.45.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price.
Buzzing Index:
The Nifty Metal index jumped 1.97% to 9,379.65. The index rallied 3.75% in three consecutive trading sessions.
Steel Authority of India (up 4.55%), Welspun Corp (up 3.16%), NMDC (up 3.15%), Hindustan Copper (up 3.1%), Tata Steel (up 2.89%), Jindal Steel & Power (up 2.73%), Adani Enterprises (up 2.40%), Lloyds Metals & Energy (up 2.39%), JSW Steel (up 2.27%) and Hindalco Industries (up 1.68%) advanced.
Stocks in Spotlight:
Ugro Capital jumped 4.75% after the company announced the elevation of Anuj Pandey as its new chief executive officer, effective 1 July 2025.
Glenmark Pharmaceuticals added 0.37%. The company announced that it had launched TEVIMBRA (tislelizumab) in India after receiving approval from the Central Drugs Standard Control Organization (CDSCO).
Metro Brands rose 0.61%. The company stated that it has entered into a strategic partnership with British footwear brand 'Clarks, marking the brands re-entry into the Indian market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
43 minutes ago
- Time of India
From WhatsApp to TikTok: App bans that have swept US government devices
Meta Platforms ' WhatsApp messaging service has been banned from all devices issued by the US House of Representatives. A memo sent to House staff on Monday explained that the "Office of Cybersecurity has deemed WhatsApp a high risk to users due to the lack of transparency in how it protects user data, absence of stored data encryption, and potential security risks involved with its use." But WhatsApp isn't the only app banned on US government devices over privacy and security concerns. Here are a few others that have faced a similar fate: TikTok by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40세 넘고 PC만 있으면? 이 게임 완전 내 거임! Hero Wars 플레이하기 Undo Back in 2022, CNN reported that TikTok was banned from electronic devices managed by the US House of Representatives. An internal notice to White House staff described the Chinese-owned app as a 'high risk to users due to a number of security risks.' In 2023, the Biden administration took it further by banning TikTok from all devices used by federal employees. Live Events The app's troubles, however, weren't restricted to just government devices. More recently, President Donald Trump extended the deadline for a possible nationwide ban for the third time, aiming to push TikTok into American ownership. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories DeepSeek In March, Reuters reported that the Trump administration was considering a ban on the Chinese AI chatbot DeepSeek from US government devices, citing national security concerns. Earlier in January, the US Navy advised its members not to use the platform, as did space agency NASA, which blocked access to DeepSeek on its systems. Then, in March, the US Commerce Department followed in their footsteps as well. ChatGPT In 2023, The Verge reported that House Chief Administrative Officer Catherine L Szpindor said lawmakers and staff were only allowed to use the paid version of ChatGPT, known as ChatGPT Plus, due to its stronger privacy protections. 'No other versions of ChatGPT or other large language models AI software are authorised for use in the House currently,' Szpindor wrote in a memo.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Donald Trump eases pressure on Iran by saying China can buy its oil
The shift comes mere hours after Trump declared that Iran and Israel had agreed on a ceasefire, which got off to a shaky start with early breaches of the deal by both sides Bloomberg US President Donald Trump said China can continue to purchase oil from Iran, abruptly easing the 'maximum pressure' the US had been applying to the Middle Eastern country's economic lifeblood. The shift comes mere hours after Trump declared that Iran and Israel had agreed on a ceasefire, which got off to a shaky start with early breaches of the deal by both sides. It follows massive US airstrikes on several of the Islamic Republic's nuclear facilities on Sunday, an offensive aimed at stopping Tehran from obtaining an atomic weapon. Oil prices extended losses after Trump's comments, with West Texas Intermediate futures sinking about 5% to almost $65 a barrel as of 10 a.m. in New York. The market had already plunged as the threat to oil flows from the Israel-Iran conflict faded. 'China can now continue to purchase oil from Iran,' the president said in a post on Truth Social on Tuesday. It's a major reversal for a president who as recently as last month was insisting that all purchases of Iranian oil or petrochemical products 'must stop, NOW!'. Buyers would be subject to secondary sanctions and prevented from engaging in any business with the US, he said. That threat built on previous warnings from his administration. In February, Treasury Secretary Scott Bessent said that Washington intended to squeeze Iran's oil exports to less than 10% of current levels, as it renewed the campaign of 'maximum pressure' deployed during Trump's first term. The sanctions were intended to force Iran to voluntarily give up uranium enrichment so that it would never be in a position to obtain a nuclear weapon. While the US airstrikes over the weekend appear to have seriously damaged the country's nuclear facilities, the International Atomic Energy Agency still does not know what happened to Tehran's stockpiked of 409 kilograms (902 pounds) of highly-enriched uranium — potentially enough for 10 nuclear warheads. The US has sanctioned hundreds of oil tankers for their role in handling Tehran's petroleum and, absent an easing in those measures, some buyers may still take a more-cautious approach. The White House has also targeted Chinese entities that bought Iranian oil, something that could make other buyers wary. Likewise, secondary sanctions on Iran's sales remain in place at this time and its not clear where the president's remarks will leave those.
Time of India
an hour ago
- Time of India
Oil prices fall 5% as Israel-Iran ceasefire reduces Middle East supply risk
Oil prices fell about 5% to a two-week low on Tuesday on expectations the ceasefire between Israel and Iran will reduce the risk of oil supply disruptions in the Middle East. That ceasefire, however, was on shaky ground with U.S. President Donald Trump accusing both Israel and Iran of violating it just hours after it was announced. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Efficient Cleaning for Compliant Warehouses SearchMore Learn More Undo Brent crude futures fell $3.29, or 4.6%, to $68.19 a barrel at 10:43 EDT (1443 GMT), while U.S. West Texas Intermediate (WTI) crude fell $3.20, or 4.7%, to $65.31. That put both contracts on track for their lowest closes since June 10, before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13. Explosions rang out in Tehran on Tuesday despite Trump saying Israel had called airstrikes off at his command to preserve an hours-old ceasefire. Live Events "I didn't like the fact that Israel unloaded right after we made the deal. They didn't have to unload and I didn't like the fact that the retaliation was very strong," Trump told reporters. Prices also fell as Trump posted on social media platform Truth Social that China, the world's second biggest economy behind the U.S., can now continue to purchase oil from Iran. Israeli Defence Minister Israel Katz had said that he had ordered its military to mount new strikes on targets in Tehran in response to what he said were Iranian missiles fired in a "blatant violation" of the ceasefire. Iran denied launching any missiles. The 12-day war has triggered high volatility in oil prices, with Brent crude trading in an $11.86 range on Monday, its widest since July 2022. Both oil contracts settled more than 7% down in the previous session, having rallied to five-month highs after the U.S. attacked Iran's nuclear facilities over the weekend. "Oil prices fell sharply, as U.S. strikes on Iranian nuclear facilities failed to trigger a wider conflict that could pose a threat to regional supplies," Barclays, a bank, said in a note on Tuesday. The direct U.S. involvement in the war also focused investors on the Strait of Hormuz, a narrow waterway between Iran and Oman, through which between 18 million and 19 million barrels per day of crude oil and fuels flow, accounting for nearly a fifth of global consumption. In other supply news, Kazakhstan's state energy company KazMunayGaz raised its forecast for oil output at the Chevron-led Tengiz oilfield, the country's largest, to 35.7 million metric tons in 2025 from 34.8 million tons expected previously, as it boosts output. Kazakhstan is a member of the OPEC+ group of countries that includes the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia and Kazakhstan. "Prior to the outbreak of hostilities between Israel and Iran, we had been suggesting a bearish stance mainly due to increased OPEC+ production that has prompted ample crude supplies, an evolving dynamic that has intersected with expected demand deterioration largely due to the Trump tariffs," analysts at energy advisory firm Ritterbusch and Associates said in a note.
