Barometers trade in negative terrain; PSU Bank shares decline for 4th day

The domestic equity indices traded with moderate losses in the early afternoon trade as investors awaited cues from a possible India-US trade deal and the kick-off of the June-quarter earnings season, with TCS scheduled to report its results later today. Nifty traded below at 25,400 level.

PSU Bank shares witnessed selling pressure for the fourth consecutive trading session.

At 12:26 IST, the barometer index, the S&P BSE Sensex declined 270.06 points or 0.32% to 83,264.02. The Nifty 50 index fell 87.60 points or 0.33% to 25,390.20.

In the broader market, the S&P BSE Mid-Cap index shed 0.39% and the S&P BSE Small-Cap index declined 0.06%.

The market breadth was negative. On the BSE, 1,782 shares rose and 2,036 shares fell. A total of 195 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was flat at 11.94. The Nifty 31 July 2025 futures were trading at 25,461.90 at a premium of 71.7 points as compared with the spot at 25,390.20.

The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 57.2 lakh contracts at the 26,000 strike price. Maximum put OI of 73.6 lakh contracts was seen at 25,000 strike price.

Buzzing Index:

The Nifty PSU Bank index declined 0.78% to 7,037.15. The index dropped 1.62% in the four consecutive trading sessions.

Canara Bank (down 1.32%), Bank of India (down 1.25%), Indian Bank (down 1.24%), Punjab & Sind Bank (down 1.06%), Punjab National Bank (down 0.86%), Central Bank of India (down 0.76%), Bank of Maharashtra (down 0.72%), Bank of Baroda (down 0.62%), Indian Overseas Bank (down 0.38%) and Union Bank of India (down 0.35%) declined.

Stocks in Spotlight:

ACC rose 0.16%. The company announced the commissioning of a 1.5 million tonne per annum (MTPA) brownfield grinding unit at its Sindri plant in Jharkhand.

Enviro Infra Engineers rose 2.76% after the firm, as the lead partner in a joint venture with AltoraPro Infrastructure, secured a Rs 395.50 crore pollution control project from the Maharashtra Industrial Development Corporation (MIDC).

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