Nifty trades below 25,850 mark; PSU bank shares slides

The key equity indices traded with major losses in the mid- afternoon trade. The Nifty traded below the 25,850 mark. PSU bank shares declined after advancing for previous two trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 707.11 points or 0.86% to 81,474.82. The Nifty 50 index declined 216 points or 0.86% to 24,846.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.37% and the S&P BSE Small-Cap index tanked 1.75%.

The overall market breadth was weak, with more stocks declining than advancing. On the BSE, 1,030 stocks advanced, 2,895 declined, and 163 remained unchanged.

Buzzing Index:

The Nifty PSU bank index fell 1.55% to 7,014.10. The index rose 0.11% in the previous two trading sessions.

Union Bank of India (down 5.6%), Indian Bank (down 2.5%), Punjab & Sind Bank (down 1.94%), Canara Bank (down 1.91%) and Central Bank of India (down 1.7%), Punjab National Bank (down 1.52%), UCO Bank (down 1.46%), Indian Overseas Bank (down 1.28%), Bank of Baroda (down 1.12%) and Bank of India (down 1.02%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.28% to 6.347 from the previous close of 6.329.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.5800 compared with its close of 86.4000 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.42% to Rs 98,309.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 97.60.

The United States 10-year bond yield rose 0.16% to 4.415.

In the commodities market, Brent crude for September 2025 settlement rose 50 cent or 0.72% to $69.68 a barrel.

Stocks in Spotlight:

KFin Technologies declined 4.96% after the company?s consolidated net profit dropped 9.16% to Rs 77.26 crore on a 3.06% rise in revenue to Rs 274.06 crore in Q1 FY26 over Q4 FY25.

JSW Energy fell 2.23%. The company said that its wholly owned subsidiary JSW Neo Energy has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) under the SECI? FDRE Tranche IV scheme.

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