Indices trade with minor losses; financial services share decline

The key equity benchmarks traded with decent losses in mid-morning trade, pressured by heavyweight financial stocks and higher oil prices amid concerns over the reopening of the Strait of Hormuz. Financial Services stocks declined after advancing for previous consecutive session. The Nifty traded below the 24,650 mark.

At 12:28 IST, the S&P BSE Sensex, tanked 458.88 points or 0.58% to 78,495.88. The Nifty 50 index lost 94.75 points or 0.38% to 24,541.25.

In the broader market, the BSE 150 MidCap Index shed 0.08, while the BSE 250 SmallCap Index rose 0.01%.

The market breadth was negative. On the BSE, 1,991 shares rose and 2,041 shares fell. A total of 220 shares were unchanged.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.67% to 12.48. The Nifty 25 August 2026 futures were trading at 24,717.60 at a premium of 176.35 points as compared with the spot at 24,541.25.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 55.9 lakh contracts at the 24,000 strike price. Maximum put OI of 85.9 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty Financial Services index fell 1.33% to 26,507.05. The index rose 0.07% in the previous trading session.

Bajaj Finance (down 4.95%), Bajaj Finserv (down 4.01%), Cholamandalam Investment & Finance Company (down 2.56%), Shriram Finance (down 2.1%), Jio Financial Services (down 1.33%), ICICI Lombard General Insurance Company (down 1.21%), ICICI Bank (down 1.2%), Kotak Mahindra Bank (down 1.13%), Axis Bank (down 0.95%) and Muthoot Finance (down 0.49%) fell.

On the other hand, REC (up 1.6%) ,BSE (up 0.41%) and Power Finance Corporation (up 0.33%) turned up.

Stocks in Spotlight:

Life Insurance Corporation of India (LIC) rose 1.32% after the company's standalone net profit jumped 22.81% year-on-year (YoY) to Rs 13,492.03 crore in Q1 FY27 from Rs 10,986.51 crore in the corresponding quarter last year. Total income increased 7.01% YoY to Rs 2,40,390.96 crore.

Hero MotoCorp added 2.77% after the company reported 29% increase in standalone net profit to Rs 1,454 crore on a 36% jump in revenue from operations to Rs 12,999 crore in Q1 FY27 as compared with Q1 FY26.

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