Indices trade in negative terrain; metal shares decline for 3rd day
The key equity indices traded with major losses in the mid-afternoon trade, mirroring losses across Asian markets, after Israel carried out military strikes on Iran, intensifying tensions in the oil-rich Middle East. The Nifty traded below the 24,750 level.
Metal shares declined for the third consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex, declined 592.22 points or 0.72% to 81,100.94. The Nifty 50 index fell 175 points or 0.70% to 24,713.20.
The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index slipped 0.48% and the S&P BSE Small-Cap index dropped 0.45%.
The market breadth was weak. On the BSE, 1,302 shares rose and 2,616 shares fell. A total of 150 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, soared 6.61% to 14.94.
Economy:
India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%.
Buzzing Index:
The Nifty Metal index fell 1.01% to 9,254.35. The index dropped 2.69% in the three consecutive trading sessions.
NMDC (down 3.09%), Welspun Corp (down 1.96%), Jindal Steel & Power (down 1.84%), Jindal Stainless (down 1.66%), Adani Enterprises (down 1.46%), Hindalco Industries (down 1.08%), Hindustan Copper (down 0.76%), National Aluminium Company (down 0.75%), Steel Authority of India (down 0.66%) and JSW Steel (down 0.66%) tumbld.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.43% to 6.310 from the previous close of 6.277.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.0625 compared with its close of 85.5200 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement rose 1.65% to Rs 100,016.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.36% to 98.22.
The United States 10-year bond yield shed 0.21% to 4.347.
In the commodities market, Brent crude for August 2025 settlement jumped $4.20 or 6.06% to $73.56 a barrel amid heightened geopolitical tensions
Stocks in Spotlight:
Kernex Microsystems (India) hit an upper limit of 5% after the company said it secured two contracts from Southern Railways in a joint venture with VRRC, under the KERNEX-VRRC consortium.
Sigachi Industries added 2.49% after the firm informed that it has secured the Terms of Reference (ToR) approval from the State Environment Impact Assessment Authority (SEIAA), Andhra Pradesh.
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The Nifty experienced a setback, failing to sustain a breakout from its month-long consolidation phase, closing with a weekly loss of 1.14%. Geopolitical tensions, particularly the Israel-Iran conflict, are expected to influence global equity markets, including India. Despite these uncertainties, the Indian market demonstrates resilience, remaining within the 24500-25100 range. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) An attempt to break out of a month-long consolidation fizzled out as the Nifty declined and returned inside the trading zone it had created for itself. Over the past five sessions, the markets consolidated just above the upper edge of the trading zone; however, this failed to result in a breakout as the markets suffered corrective trading range stayed wider on anticipated lines; the Index oscillated in a 749-point range over the past week. The volatility rose; the India Vix climbed 3.08% to 15.08 on a weekly basis. The headline Index closed with a net weekly loss of 284.45 points (-1.14%)We have a fresh set of geopolitical tensions to deal with Israel attacking Iran. The global equity markets are likely to remain affected and India will be no exception to this. Having said this, the Indian markets are relatively stronger than their peers and are likely to stay away. Despite the negative reaction to the global uncertainties, Nifty has shown great resilience and has remained in the 24500-25100 trading zone in which it has been trading for over a month now. There are high possibilities that over the coming week, the Nifty may stay volatile and oscillate in a wide range, but it is unlikely to create any directional bias. A sustainable trend would emerge only after Nifty takes out 25100 on the upside or violates the 24500 coming week is likely to see the levels of 25100 and 25300 acting as resistance points. The supports are likely to come in at 24500 and 24380 weekly RSI stands at 57.67; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal pattern analysis of the weekly chart shows that the Nifty has failed to break above the rising trendline resistance. This trendline begins from 21150 and joins the subsequent higher bottoms. Besides this, it reinforces the 25100 level as a strong resistance point. For any trending upmove to emerge, it would be crucial for the Index to move past this level it is unlikely that the Nifty will violate 24500 levels. The options data shows very negligible call writing below 24500 strikes, increasing the possibility of this level staying defended over the coming days. Unless there is a situation with more gravity to be dealt with, the markets may stay largely in a defined trading sector rotation stays visible in favor of traditionally defensive pockets and low-beta stocks. We continue to recommend a cautious stance as long as the Index does not move past the 25100 level and stays above that point. Until then, a highly stock-specific approach is recommended while guarding profits at higher our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed Rotation Graphs (RRG) show that the Nifty Midcap 100 has rolled inside the leading quadrant and is set to outperform the broader markets relatively. The Nifty PSU Bank and PSE Indices are also inside the leading quadrant; however, they are giving up on their relative Nifty Infrastructure Index has rolled inside the weakening quadrant. The Banknifty, Services Sector Index, Consumption, Financial Services, and Commodities Sector Indices are also inside the weakening quadrant. While stock-specific performance may be seen, the collective relative outperformance may Nifty FMCG Index languishes inside the lagging quadrant. The Metal and the Pharma Indices are also inside the lagging quadrant, but they are improving on their relative momentum against the broader Nifty 500 Nifty Realty, Media, Auto, and Energy Sector Indices are inside the improving quadrant; they may continue improving their relative performance against the broader Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
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An attempt to break out of a month-long consolidation fizzled out as the Nifty declined and returned inside the trading zone it had created for itself. Over the past five sessions, the markets consolidated just above the upper edge of the trading zone; however, this failed to result in a breakout as the markets suffered corrective retracement. The trading range stayed wider on anticipated lines; the Index oscillated in a 749-point range over the past week. The volatility rose; the India Vix climbed 3.08% to 15.08 on a weekly basis. The headline Index closed with a net weekly loss of 284.45 points (-1.14%) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sarjapur Road: 3BHK Homes @ 1.15 Cr | Handover in 15 Months MSR Passion Square Undo We have a fresh set of geopolitical tensions to deal with Israel attacking Iran. The global equity markets are likely to remain affected and India will be no exception to this. Having said this, the Indian markets are relatively stronger than their peers and are likely to stay away. Despite the negative reaction to the global uncertainties, Nifty has shown great resilience and has remained in the 24500-25100 trading zone in which it has been trading for over a month now. There are high possibilities that over the coming week, the Nifty may stay volatile and oscillate in a wide range, but it is unlikely to create any directional bias. A sustainable trend would emerge only after Nifty takes out 25100 on the upside or violates the 24500 level. The coming week is likely to see the levels of 25100 and 25300 acting as resistance points. The supports are likely to come in at 24500 and 24380 levels. The weekly RSI stands at 57.67; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. Live Events The pattern analysis of the weekly chart shows that the Nifty has failed to break above the rising trendline resistance. This trendline begins from 21150 and joins the subsequent higher bottoms. Besides this, it reinforces the 25100 level as a strong resistance point. For any trending upmove to emerge, it would be crucial for the Index to move past this level convincingly. Overall, it is unlikely that the Nifty will violate 24500 levels. The options data shows very negligible call writing below 24500 strikes, increasing the possibility of this level staying defended over the coming days. Unless there is a situation with more gravity to be dealt with, the markets may stay largely in a defined trading range. The sector rotation stays visible in favor of traditionally defensive pockets and low-beta stocks. We continue to recommend a cautious stance as long as the Index does not move past the 25100 level and stays above that point. Until then, a highly stock-specific approach is recommended while guarding profits at higher levels. In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. Relative Rotation Graphs (RRG) show that the Nifty Midcap 100 has rolled inside the leading quadrant and is set to outperform the broader markets relatively. The Nifty PSU Bank and PSE Indices are also inside the leading quadrant; however, they are giving up on their relative momentum. The Nifty Infrastructure Index has rolled inside the weakening quadrant. The Banknifty, Services Sector Index, Consumption, Financial Services, and Commodities Sector Indices are also inside the weakening quadrant. While stock-specific performance may be seen, the collective relative outperformance may Nifty FMCG Index languishes inside the lagging quadrant. The Metal and the Pharma Indices are also inside the lagging quadrant, but they are improving on their relative momentum against the broader Nifty 500 Index. The Nifty Realty, Media, Auto, and Energy Sector Indices are inside the improving quadrant; they may continue improving their relative performance against the broader markets. Important Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals. Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
