Sensex slides 326 pts; PSU bank shares decline

The key equity barometers traded with modest cuts in the early afternoon trade, weighed down by a rise in crude oil prices following the expiry of the US-Iran ceasefire and growing uncertainty over the reopening of the Strait of Hormuz. The Nifty traded below the 24,250 mark. PSU bank shares extended losses for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 325.69 points or 0.42% to 77,402.47. The Nifty 50 index lost 72.15 points or 0.30% to 24,216.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index shed 0.17% and the BSE 250 SmallCap Index rose 0.15%.

The market breadth was negative. On the BSE, 1,845 shares rose and 2,262 shares fell. A total of 221 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.78% to 11.64. The Nifty 25 August 2026 futures were trading at 24,259.90, at a premium of 43.9 points as compared with the spot at 24,216.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 115.5 lakh contracts at the 24,500 strike price. A maximum put OI of 105.8 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty PSU Bank index shed 0.50% to 8,662.70. The index rose 0.54% in the four consecutive trading sessions.

Union Bank of India (down 1.43%), Punjab & Sind Bank (down 1.18%), Canara Bank (down 1.14%), Indian Overseas Bank (down 0.77%), Bank of India (down 0.55%), Bank of Baroda (down 0.53%), UCO Bank (down 0.5%), Central Bank of India (down 0.48%), State Bank of India (down 0.41%) and Bank of Maharashtra (down 0.15%) fell.

Stocks in Spotlight:

DCX Systems rose 2.12% after the company and its wholly owned subsidiary Raneal Advanced Systems secured purchase orders worth a combined Rs 18.28 crore.

Netweb Technologies India rose 1.19% after the company announced the opening of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 4,885.90 per equity share.

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