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Nifty below 24,800 level; private bank shares decline

28-Jul-2025 | 12:31
The key equity benchmark traded with modest losses in early afternoon trade. The Nifty traded below the 24,800 level. Private bank shares declined for the third consecutive session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 220.35 points or 0.27% to 81,242.74. The Nifty 50 index lost 50.45 points or 0.20% to 24,787.30.

In the broader market, the S&P BSE Mid-Cap index shed 0.13% and the S&P BSE Small-Cap index fell 0.66%.

The market breadth was weak. On the BSE, 1,486 shares rose and 2,419 shares fell. A total of 208 shares were unchanged.

Economy:

India's forex reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, data by the Reserve Bank of India showed on Friday.

For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by $1.201 billion to $587.609 billion, the data released on Friday showed.

However, the gold reserves increased by $150 million to $84.499 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $119 million to $18.683 billion, the apex bank said.

India's reserve position with the IMF declined by $13 million to $4.698 billion in the reporting week, the apex bank data showed.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 3.63% to 11.69. The Nifty 31 July 2025 futures were trading at 24,807.90, at a premium of 20.06 points as compared with the spot at 24,787.30.

The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 166.8 lakh contracts at the 25,000 strike price. Maximum put OI of 115.2 lakh contracts was seen at the 24,800 strike price.

Buzzing Index:

The Nifty Private Bank index fell 1.13% to 27,293.30. The index fell 2.65% in three consecutive trading sessions.

Kotak Mahindra Bank (down 6.64%), Axis Bank (down 0.87%), IndusInd Bank (down 0.7%), Bandhan Bank (down 0.58%) and Yes Bank (down 0.05%) declined.

On the other hand, RBL Bank (up 1.45%), ICICI Bank (up 0.93%) and IDFC First Bank (up 0.57%) edged higher.

Stocks in Spotlight:

Aadhar Housing Finance jumped 5.03% after the company?s consolidated net profit jumped 18.56% to Rs 237.28 crore on 18.94% increase in revenue from operations to Rs 848.18 crore in Q1 FY26 over Q1 FY25.

Gujarat Mineral Development Corporation (GMDC) fell 3.96% after the company?s standalone net profit declined 11.07% to Rs 164.13 crore on a 10.45% drop in revenue from operations to Rs 732.60 crore in Q1 FY26 over Q1 FY25.

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