Benchmarks trade near flatline; metal shares shine for 4th day

The key equity indices continued to trade with minor cuts in the early afternoon trade, dragged by continued selling from foreign institutional investors (FIIs), even as global markets stayed positive and sentiment was supported by the Reserve Bank of India?s dovish policy stance. The Nifty traded below the 24,850 mark.

Metal shares witnessed buying demand for fourth consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 54.03 points or 0.07% to 80,929.28. The Nifty 50 index lost 28.40 points or 0.13% to 24,804.74.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.23% and the S&P BSE Small-Cap index rose 0.46%.

The market breadth was positive. On the BSE, 2,283 shares rose and 1,691 shares fell. A total of 201 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.12% to 10.28. The Nifty 30 September 2025 futures were trading at 24,930.90 at a premium of 126.16 points as compared with the spot at 24,804.74.

The Nifty option chain for the 28 October 2025 expiry showed a maximum call OI of 48.7 lakh contracts at the 25,500 strike price. Maximum put OI of 38.1 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Metal index advanced 2.38% to 10,332.80. The index jumped 4.50% in the four consecutive trading sessions.

National Aluminium Company (up 4.22%), Tata Steel (up 3.87%), Hindalco Industries (up 2.9%), Jindal Stainless (up 2.84%), Vedanta (up 2.62%), Hindustan Zinc (up 2.62%), JSW Steel (up 2.42%), Lloyds Metals & Energy (up 1.99%), NMDC (up 1.9%) and Hindustan Copper (up 1.88%) surged.

Stock in Spotlight:

V2 Retail jumped 3.47% after the company?s standalone revenue surged 86% to Rs 705 crore in Q2 FY26, compared with Rs 380 crore posted in Q2 FY25.

Goodluck India rose 0.60% after the company said its arm, Goodluck Defence & Aerospace, has secured an industrial license under the Indian Arms Act, 1959.

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