Nifty below 25,200 level; metal shares decline

The key equity indices witnessed significant losses in afternoon trade, as investors engaged in profit booking and shifted to a risk-off sentiment. Nifty traded below the 25,200 level. Metal shares declined after advancing in the previous trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 667.52 points or 0.80% to 82,522.76. The Nifty 50 index lost 193.80 points or 0.76% to 25,161.45.

The broader market outperformed. The S&P BSE Mid-Cap index shed 0.54% and the S&P BSE Small-Cap index fell 0.65%.

The market breadth was positive. On the BSE, 1,474 shares rose and 2,466 shares fell. A total of 172 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.56% to 11.86.

Buzzing Index:

The Nifty Metal index fell 0.50% to 9,431.10. The index rose 0.42% in the past trading session.

Lloyds Metals & Energy (down 2.02%), Welspun Corp (down 1.38%), Hindustan Copper (down 1.13%), APL Apollo Tubes (down 0.91%), Jindal Steel & Power (down 0.87%), JSW Steel (down 0.77%), Tata Steel (down 0.59%), Adani Enterprises (down 0.5%), Steel Authority of India (down 0.24%) and Hindalco Industries (down 0.24%) advanced.

On the other hand, NMDC (up 0.79%), Vedanta (up 0.71%) and Hindustan Zinc (up 0.67%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.08% to 6.313 from the previous close of 6.318.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.9025 compared with its close of 85.7000 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.63% to Rs 97,290.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.24% to 97.82.

The United States 10-year bond yield rose 0.67% to 4.386.

In the commodities market, Brent crude for September 2025 settlement rose 6 cents or 0.09% to $68.70 a barrel.

Stocks in Spotlight:

Tata Elxsi slipped 1.59% after the company reported a 21.6% decline in net profit to Rs 144.4 crore as revenue from operations fell by 3.7% to Rs 892.1 crore in Q1 FY26 as compared with Q1 FY25.

RMC Switchgears hit an upper circuit of 5% after the company posted consolidated revenue of Rs 86.14 crore in the June quarter of FY26, recording over 165% YoY growth compared to Rs 34.04 crore in the same period last year.

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