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The key domestic indices traded with modest losses in early afternoon trade despite positive global cues. Market participants are monitoring de-escalation situation between Iran and US. The Nifty traded below the 24,150 mark.
Metal shares witnessed buying demand for second consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 333.61 points or 0.46% to 77,753.97. The Nifty 50 index fell 92 points or 0.37% to 24,144.10.
In the broader market, the BSE 150 MidCap Index shed 0.07% and the BSE 250 SmallCap Index rose 0.23%.
The market breadth was positive. On the BSE, 2,262 shares rose and 1,870 shares fell. A total of 204 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 0.81% to 18.52. The Nifty 28 April 2026 futures were trading at 24,181.50, at a premium of 31.50 points as compared with the spot at 24,150.
The Nifty option chain for the 28 April 2026 expiry showed a maximum call OI of 48.9 lakh contracts at the 25,000 strike price. A maximum put OI of 45.2 lakh contracts was seen at the 23,000 strike price.
Buzzing Index:
The Nifty Metal index jumped 1.46% to 12,730.95. The index rallied 3.26% in the two consecutive trading sessions.
Hindalco Industries (up 3.04%), Hindustan Zinc (up 2.81%), National Aluminium Company (up 2.42%), Vedanta (up 2.13%), Hindustan Copper (up 1.8%), Steel Authority of India (up 1.62%), Adani Enterprises (up 1.22%), Lloyds Metals & Energy (up 1.1%), Jindal Steel (up 0.96%) and Jindal Stainless (up 0.65%) surged.
Stocks in Spotlight:
John Cockerill India jumped 3.62% after the company received a contract form JSW Steel Coated Products to design Continuous Galvanizing Line (CGL#3) at Khopoli plant. The contract is valued at Rs 300 crore.
Alembic Pharmaceuticals advanced 2.05% after the company announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Methotrexate Injection USP.
Tejas Networks tumbled 4.25% after the company reported a net loss of Rs 211 crore in Q4 FY26 as against a net loss of Rs 72 crore in Q4 FY25. Net revenue fell 83% to Rs 333 crore in the March quarter from Rs 1,907 crore recorded in the same period last year.
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