Nifty trades above 25,250; metal shares rally for 3rd day

The domestic equity indices traded with significant gains in the early afternoon trade, tracking a sharp rally in Asian markets after US President Donald Trump announced a ceasefire agreement between Iran and Israel. The easing of geopolitical tensions led to a pullback in global crude oil prices, providing further support to domestic equities.

The Nifty traded above the 25,250 mark. Metal shares witnessed buying demand for the third consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, zoomed 996.28 points or 1.22% to 82,893.77. The Nifty 50 index rallied 309.25 points or 1.24% to 25,281.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.95% and the S&P BSE Small-Cap index added 1.12%.

The market breadth was strong. On the BSE, 2,869 shares rose and 946 shares fell. A total of 175 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.54% to 13.69. The Nifty 26 Jun 2025 futures were trading at 25,313.80, at a premium of 32.35 points as compared with the spot at 25,281.45.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty Metal index jumped 1.97% to 9,379.65. The index rallied 3.75% in three consecutive trading sessions.

Steel Authority of India (up 4.55%), Welspun Corp (up 3.16%), NMDC (up 3.15%), Hindustan Copper (up 3.1%), Tata Steel (up 2.89%), Jindal Steel & Power (up 2.73%), Adani Enterprises (up 2.40%), Lloyds Metals & Energy (up 2.39%), JSW Steel (up 2.27%) and Hindalco Industries (up 1.68%) advanced.

Stocks in Spotlight:

Ugro Capital jumped 4.75% after the company announced the elevation of Anuj Pandey as its new chief executive officer, effective 1 July 2025.

Glenmark Pharmaceuticals added 0.37%. The company announced that it had launched TEVIMBRA (tislelizumab) in India after receiving approval from the Central Drugs Standard Control Organization (CDSCO).

Metro Brands rose 0.61%. The company stated that it has entered into a strategic partnership with British footwear brand 'Clarks', marking the brand's re-entry into the Indian market.

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