Nifty hovers above 25,100 level; metal shares shine

The key equity benchmark continued to trade with small gains in early afternoon trade, tracking positive global cues. The Nifty hovered above the 25,100 level. Metal shares extended gains for the fifth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, rose 6.33 points or 0.01% to 82,449.51. The Nifty 50 index added 21.85 points or 0.09% to 25,123.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index added 0.20%.

The market breadth was positive. On the BSE, 2,193 shares rose and 1,662 shares fell. A total of 169 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.11% to 14.09. The Nifty 26 Jun 2025 futures were trading at 25,209, at a premium of 85.6 points as compared with the spot at 25,123.40.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 55.6 lakh contracts at the 26,000 strike price. Maximum put OI of 47 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty Metal index rose 0.84% to 9,556.50. The index advanced 4.76% in the five consecutive trading sessions.

Hindustan Zinc (up 2.32%), National Aluminium Company (up 2.32%), Hindustan Copper (up 1.89%), Welspun Corp (up 1.75%), Adani Enterprises (up 1.71%), Vedanta (up 1.42%), NMDC (up 1.2%), Hindalco Industries (up 1.17%), Jindal Stainless (up 1.03%) and Lloyds Metals & Energy (up 0.71%) advanced.

On the other hand, Tata Steel (down 0.36%) and JSW Steel (down 0.1%) edged lower.

Stocks in Spotlight:

Mahindra & Mahindra (M&M) shed 0.01%. The company said that it has increased its stake in Mahindra & Mahindra Financial Services (MMFSL), its listed non-banking finance subsidiary, following the allotment of equity shares under MMFSL's Rs 2,996 crore rights issue.

Tata Power Company rose 0.28%. The company announced that its solar manufacturing arm, TP Solar, has crossed 4 GW of cumulative solar module output at its facility in Tirunelveli, Tamil Nadu.

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