Indices trade with sideways; metal shares lose sheen

The key equity barometers traded sideways in the early afternoon trade as investors remained cautious ahead of the weekly expiry of BSE derivatives contracts. Market participants are also assessing a slew of Q1 FY27 earnings announcements, with sector- and stock-specific movements remaining in focus amid the ongoing earnings season. Investors are also keeping a close watch on the progress of the monsoon, which remains an important factor for the broader economic outlook.

The Nifty traded tad below the 24,400 level. Metal shares declined after advancing in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, rose 16.07 points or 0.02% to 77,984.46. The Nifty 50 index lost 40.45 points or 0.17% to 24,396.35.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.23% and the BSE 250 SmallCap Index rose 0.13%.

The market breadth was positive. On the BSE, 2,180 shares rose and 1,896 shares fell. A total of 245 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.77% to 11.48. The Nifty 25 August 2026 futures were trading at 24,480, at a premium of 83.65 points as compared with the spot at 24,396.35.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 80.8 lakh contracts at the 25,000 strike price. A maximum put OI of 93.2 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Metal index shed 0.79% to 13,067.95. The index rose 0.54% in the past trading session.

National Aluminium Company (down 2.93%), Hindalco Industries (down 2.21%), Steel Authority of India (down 1.78%), Vedanta (down 1.54%), NMDC (down 1.21%), Jindal Steel (down 1.19%), Adani Enterprises (down 0.84%), Tata Steel (down 0.69%), Hindustan Zinc (down 0.07%) fell.

Stocks in Spotlight:

Black Box jumped 7.93% after the company reported 18% rise in consolidated net profit to Rs 56 crore on a 24% increase in revenue to Rs 1,719 crore in Q1 FY27 as compared with Q1 FY26.

Lenskart Solutions rose 2.49% after the company reported strong Q1 FY27 performance, with robust growth in revenue, EBITDA and profit. On a consolidated basis, adjusted net profit increased 239.83% YoY and 10.76% QoQ to Rs 221.84 crore in Q1 FY27. Net sales increased 43.27% YoY and 7.89% QoQ to Rs 2,714.18 crore.

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