The headline equity benchmarks traded with minor losses in early afternoon trade, amid ongoing geopolitical tensions between Israel and Iran. Market direction remains sensitive to geopolitical developments. Investors will closely monitor crude oil prices, developments from the G7 summit and the outcome of the upcoming U.S. Federal Reserve meeting.
The Nifty traded below the 24,800 level. IT stocks slipped after rising for three consecutive trading sessions.
At 12:30 IST, the barometer index, the S&P BSE Sensex declined 237.37 points or 0.29% to 81,344.77. The Nifty 50 index declined 66.35 points or 0.19% to 24,788.65.
In the broader market, the S&P BSE Mid-Cap index fell 0.32% and the S&P BSE Small-Cap index shed 0.13%.
The market breadth was negative. On the BSE, 1,594 shares rose and 2,199 shares fell. A total of 192 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.88% to 14.28. The Nifty 26 Jun 2025 futures were trading at 24,818.60, at a premium of 29.95 points as compared with the spot at 24,788.65.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 77.7 lakh contracts at the 26,000 strike price. Maximum put OI of 54.4 lakh contracts was seen at the 24,500 strike price.
Buzzing Index:
The Nifty IT index fell 0.67% to 39,093.65. The index added 2.33% in the previous three consecutive trading sessions.
Coforge (down 1.47%), Tata Consultancy Services (down 0.89%), LTIMindtree (down 0.78%), Infosys (down 0.7%), Persistent Systems (down 0.54%), HCL Technologies (down 0.53%), Mphasis (down 0.53%), Oracle Financial Services Software (down 0.38%), Wipro (down 0.31%) and Tech Mahindra (down 0.01%) added.
Stocks in Spotlight:
Optiemus Infracom surged 14.02% after the company announced that its wholly owned subsidiary, Optiemus Electronics (OEL), has collaborated with OnePlus to locally manufacture and deliver premium Internet of Things (IoT) devices in India.
UGRO Capital added 2.33% after the firm has informed that it will acquire 100% stake in Profectus Capital for Rs 1,400 crore in an all-cash deal, aiming to strengthen its position in the secured MSME lending segment.
Polycab India shed 0.45%. The company said that it has executed a contract worth Rs 6,447.54 crore with Bharat Sanchar Nigam (BSNL) to act as the project implementation agency (PIA) for the BharatNet project in Karnataka, Goa, and Puducherry.
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