Barometers trade with minor gains; metal shares lack lustre

The domestic equity benchmarks trade near the flatline with some positive bias in mid-afternoon trade, amid ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events. The Nifty traded above the 24,800 level.

Metal shares witnessed selling pressure for third consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex rose 51.85 points or 0.06% to 81,500.40. The Nifty 50 index rose 18.60 points or 0.07% to 24,827.40.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.27% and the S&P BSE Small-Cap index dropped 1.33%.

The market breadth was weak. On the BSE, 912 shares rose and 2,993 shares fell. A total of 156 shares were unchanged.

Buzzing Index:

The Nifty Metal Index fell 1.06% to 9,061. The index dropped 3.18% for the three consecutive trading sessions.

Vedanta (down 3.82%), Hindustan Copper (down 3.75%), Hindustan Zinc (down 3.09%), Welspun Corp (down 2.98%) and NMDC (down 2.34%), National Aluminium Company (down 2.2%), Lloyds Metals & Energy (down 2.14%), Steel Authority of India (down 2.05%), Adani Enterprises (down 1.81%) and Jindal Stainless (down 1.77%) declined. Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.66% to 6.299 from the previous close of 6.258.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.8200 compared with its close of 86.4300 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement fell 0.13% to Rs 99,406.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 98.98.

The United States 10-year bond yield rose 0.80% to 4.394.

In the commodities market, Brent crude for August 2025 settlement advanced 42 cents or 0.55% to $77.12 a barrel.

Stocks in Spotlight:

MTAR Technologies shed 0.95%. The company has announced that it has signed a 10-year long-term contract with Weatherford Products GMBH for the supply of Whipstock assemblies and other critical products.

B.R.Goyal Infrastructure jumped 3.21% after the company announced that it has secured a Rs 63.98 crore contract from Kevadiya Construction for the development of underground sewerage systems in Tamil Nadu.

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