Nifty above 25,200 level; IT shares in demand

The key equity benchmark traded with moderate gains in early afternoon trade, lifted by positive global trade developments. Optimism from Asian markets and hopeful signals from US-China trade negotiations in London boosted investor sentiment. The Nifty traded a tad above the 25,200 level. IT shares extended gains for the sixth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, added 311.35 points or 0.38% to 82,703.07. The Nifty 50 index rose 100.40 points or 0.40% to 25,205.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index added 0.62%.

The market breadth was strong. On the BSE, 2,590 shares rose and 1,329 shares fell. A total of 143 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.85% to 13.76. The Nifty 26 Jun 2025 futures were trading at 25,299, at a premium of 93.2 points as compared with the spot at 25,205.80.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 58.5 lakh contracts at the 26,000 strike price. Maximum put OI of 46.2 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty IT index rose 0.44% to 38,469.70. The index advanced 4.49% in the six consecutive trading sessions.

Tech Mahindra (up 1.25%), HCL Technologies (up 0.97%), Infosys (up 0.77%), Wipro (up 0.51%) and Tata Consultancy Services Ltd (up 0.41%) advanced.

On the other hand, Oracle Financial Services Software (down 1.61%), Coforge (down 0.6%) and Mphasis Ltd (down 0.08%) edged lower.

Stocks in Spotlight:

Tolins Tyres zoomed 11.40% after the company reported its highest-ever monthly production milestone of 816 metric tons (MT) in May 2025, driven by robust demand and improved plant efficiency.

KP Green Engineering added 0.42%. The company announced that it has secured new orders totaling Rs 97.27 crore from multiple clients.

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