| The headline equity benchmarks traded with moderate losses in early afternoon trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japan’s policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week.
The Nifty traded below the 24,900 level. Metal shares declined after advancing for previous trading session.
At 12:30 IST, the barometer index, the S&P BSE Sensex declined 257.07 points or 0.31% to 81,537.48. The Nifty 50 index fell 90.55 points or 0.35% to 24,858.25.
In the broader market, the S&P BSE Mid-Cap index shed 0.15% and the S&P BSE Small-Cap index fell 0.23%.
The market breadth was negative. On the BSE, 1,679 shares rose and 2,110 shares fell. A total of 202 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.13% to 14.52. The Nifty 26 Jun 2025 futures were trading at 24,896, at a premium of 37.75 points as compared with the spot at 24,858.25.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 67.1 lakh contracts at the 26,000 strike price. Maximum put OI of 56.8 lakh contracts was seen at the 24,500 strike price.
Buzzing Index:
The Nifty Metal index fell 0.72% to 9,290.45. The index added 1.07% in the previous trading session.
Hindustan Copper (down 2.9%), Hindustan Zinc (down 2.59%), NMDC (down 1.83%), Jindal Stainless (down 1.55%), Adani Enterprises (down 1.45%), National Aluminium Company (down 1.35%), APL Apollo Tubes (down 0.98%), Steel Authority of India (down 0.87%), Jindal Steel & Power (down 0.86%) and Tata Steel (down 0.62%) down.
On the other hand, Lloyds Metals & Energy (up 0.78%), Welspun Corp (up 0.04%) and JSW Steel (up 0.01%) added.
Stocks in Spotlight:
ITCONS E-Solutions rose 0.32%. The company announced that it has received new work order worth Rs 62.66 lakhs from Wipro for providing technical manpower services.
NBCC (India) shed 0.75%. The company announced that it has secured a contract worth Rs 172.46 crore from UCO Bank for the construction of the bank’s head office in Kolkata.
Vipul Organics hit an upper limit of 5% after the company announced that it has received the final approval and the first commercial order for a newly developed organic intermediate intended for use in the automobile industry.
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