The key equity benchmarks traded with modest losses in mid-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 after hitting day's high of 24,947.55 in early trade.
Metal shares declined for the second consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex declined 319.05 points or 0.39% to 81,264.25. The Nifty 50 index declined 96.15 points or 0.39% to 24,756.10.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.58% and the S&P BSE Small-Cap index shed 0.52%.
The market breadth was weak. On the BSE, 1,370 shares rose and 2,523 shares fell. A total of 165 shares were unchanged.
Buzzing Index:
The Nifty Metal index declined 0.90% to 9,140.95. The index tumbled 2.32% for the second consecutive trading session.
Hindustan Zinc (down 6.3%), Jindal Stainless (down 2.38%), APL Apollo Tubes (down 2.14%), Lloyds Metals & Energy (down 1.55%), Adani Enterprises (down 1.35%), JSW Steel (down 1.21%), Steel Authority of India (down 0.98%), Vedanta (down 0.56%), Tata Steel (down 0.52%) and NMDC (down 0.51%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was flat at 6.259.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.4725 compared with its close of 86.3400 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement fell 0.15% to Rs 99,385.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% to 98.66.
The United States 10-year bond yield fell 0.05% to 4.388.
In the commodities market, Brent crude for August 2025 settlement shed 39 cents or 0.51% to $76.06 a barrel.
Stocks in Spotlight:
DLF shed 0.72%. The company said that its latest luxury offering DLF Privana North, valued at approximately Rs 11,000 crore, has been sold within a one week of its launch.
Alembic Pharmaceuticals declined 1.07%. The company said that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API)-III facility in Karakhadi, Gujarat.
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