Indices trade with limited losses; IT shares slide

The key equity indices traded with modest losses in the early afternoon trade, as strong foreign portfolio investor (FPI) inflows and optimism over domestic growth were offset by caution ahead of the upcoming GDP data release. The Nifty traded below the 24,800 level. IT shares slipped after advancing in the past trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, slipped 267.20 points or 0.33% to 81,365.82. The Nifty 50 index fell 81.85 points or 0.33% to 24,752.

In the broader market, the S&P BSE Mid-Cap index shed 0.34% and the S&P BSE Small-Cap index added 0.16%.

The market breadth was negative. On the BSE, 1,665 shares rose and 2,125 shares fell. A total of 179 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.05% to 16.08. The Nifty 26 June 2025 futures were trading at 24,873 at a premium of 121 point as compared with the spot at 24,752.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 48 lakh contracts at the 26,000 strike price. Maximum put OI of 52 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty IT index slipped 0.84% to 37,437.50. The index rose 0.77% in the past trading session.

Infosys (down 1.39%), Tech Mahindra (down 1.31%), LTIMindtree (down 1.15%), Persistent Systems (down 1.11%), Coforge (down 0.9%), HCL Technologies (down 0.58%), Mphasis (down 0.45%), Tata Consultancy Services (down 0.22%) and Wipro (down 0.20%) declined.

Stocks in Spotlight:

Welspun Living dropped 6.23% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review.

NBCC (India) advanced 1.52% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025.

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