Indices pare losses; Nifty above 24,150 mark

The key equity indices traded with minor losses in early afternoon trade after paring most of their initial declines. Market sentiment remained subdued amid weak global cues, while volatility stayed in focus as investors navigated the monthly expiry of Nifty 50 derivatives today. Nifty traded above 24,150 mark.

The Nifty option chain for the 25 August 2026 expiry indicated a narrow trading range, with maximum call open interest (OI) of 4.47 crore contracts at the 24,200 strike, suggesting stiff resistance near this level. On the downside, maximum put OI of 3.85 crore contracts at the 24,150 strike pointed to strong support.

Media shares advanced after declining in the past two trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 57.51 points or 0.07% to 77,314.46. The Nifty 50 index fell 44.75 points or 0.19% to 24,173.95.

In the broader market, the BSE 150 MidCap Index fell 0.13% and the BSE 250 SmallCap Index dropped 0.29%.

The market breadth was negative. On the BSE, 1,781 shares rose and 2,282 shares fell. A total of 243 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.01% to 11.18. The Nifty 25 August 2026 futures were trading at 24,340.70, at a premium of 166.75 points as compared with the spot at 24,173.95.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 4.47 crore contracts at the 24,200 strike price. A maximum put OI of 3.85 crore contracts was seen at the 24,150 strike price.

Buzzing Index:

The Nifty Media index jumped 0.57% to 1,612.40. The index fell 1.12 % in the two consecutive trading sessions.

Nazara Technologies Ltd (up 3.32%), Zee Entertainment Enterprises Ltd (up 0.97%), Tips Music Ltd (up 0.61%) advanced.

Stocks in Spotlight:

Afcons Infrastructure added 2.30% after the company received an arbitral award of Rs 335.50 crore in its favour in proceedings against Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) on 24 August 2026.

Sigma Advanced Systems was locked in 5% upper circuit after the company secured an additional long-term agreement worth nearly ?125 million (approximately Rs 1,600 crore) from Rolls-Royce.

Entero Healthcare Solutions surged 8.38% after 3P Investment Managers, founded and managed by veteran fund manager Prashant Jain, acquired a 2.5% stake in the company through bulk deals on 24 August 2026.

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