Indices trade lower; IT shares rally

The key equity indices traded with modest losses in mid-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.

IT shares witnessed buying demand for third consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex declined 210.64 points or 0.26% to 81,597.34. The Nifty 50 index fell 80.20 points or 0.32% to 24,865.25.

In the broader market, the S&P BSE Mid-Cap index shed 0.29% and the S&P BSE Small-Cap index fell 0.45%.

The market breadth was weak. On the BSE, 1,533 shares rose and 2,384 shares fell. A total of 166 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.48% to 14.32.

Buzzing Index:

The Nifty IT index jumped 1% to 39,463.65. The index rallied 2.61% for the three consecutive trading sessions.

Tech Mahindra (up 1.69%), LTIMindtree (up 1.29%), Persistent Systems (up 1.2%), Infosys (up 0.95%) and HCL Technologies (up 0.63%), Tata Consultancy Services (up 0.58%), Coforge (up 0.55%), Oracle Financial Services Software (up 0.41%) and Wipro (up 0.38%) jumped.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.03% to 6.269 from the previous close of 6.270.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.2325 compared with its close of 86.0450 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.07% to Rs 99,110.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 98.20.

The United States 10-year bond yield declined 0.45% to 4.430.

In the commodities market, Brent crude for August 2025 settlement advanced 96 cents or 1.31% to $74.19 a barrel.

Stock in Spotlight:

Allied Blenders and Distillers (ABD) shed 0.49%. The company said that its subsidiary ABD Maestro has launched 'Russian Standard Vodka?, Russia?s number one premium vodka, in the Indian market.

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