Market near flat line; metal shares lacklustre

The domestic equity benchmarks traded with minor gains in the mid-afternoon trade. Investors will track FII trends in the backdrop of the upcoming meeting between Donald Trump and Russian President Vladimir Putin later this week. Nifty traded above 24,600 level.

Metal shares declined after rallying for three consecutive trading sessions.

At 14:27 IST, the barometer index, the S&P BSE Sensex advanced 31.23 points or 0.04% to 80,577.02. The Nifty 50 index added 3.25 points or 0.01% to 24,622.60.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.26% and the S&P BSE Small-Cap index fell 0.55%.

The market breadth was negative. On the BSE 1,684 shares rose and 2,315 shares fell. A total of 161 shares were unchanged.

The stock market will remain closed on Friday, 15 August 2025, in observance of Independence Day.

Economy:

The annual rate of inflation based on All India Wholesale Price Index (WPI) number is -0.58% (provisional) for the month of July, 2025 (over July, 2024). Negative rate of inflation in July, 2025 is primarily due to decrease in prices of food articles, mineral oils, crude petroleum & natural gas, manufacture of basic metals etc. WPI has marked its second consecutive month in negative territory and wholesale price inflation is at a two-year low.

Buzzing Index:

The Nifty Metal index declined 1.56% to 9,200.35. The index jumped 2.17% in the past three trading session.

NMDC (down 4.49%), Steel Authority of India (down 2.83%), Tata Steel (down 2.61%), Vedanta (down 2.31%), Jindal Steel & Power (down 2.21%), National Aluminium Company (down 1.63%), Hindustan Zinc (down 1.24%), Hindalco Industries (down 1.14%), Lloyds Metals & Energy (down 1.01%) and Hindustan Copper (down 1%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.26% to 6.464 from the previous close of 6.483.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.6400 compared with its close of 87.4700 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement fell 0.11% to Rs 100,070.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 97.88.

The United States 10-year bond yield dropped 0.66% to 4.210.

In the commodities market, Brent crude for October 2025 settlement added 31 cents or 0.47% to $65.94 a barrel.

Stocks in Spotlight:

Veedol Corporation shed 0.58%. The company's consolidated net profit jumped 33.84% to Rs 49.67 crore in Q1 FY26 as against Rs 37.11 crore in Q1 FY25. Revenue from operations rose 7.25% year on year to Rs 513.62 crore in Q1 FY26.

Man Infraconstruction declined 3.15% after the company reported a 28.3% fall in consolidated net profit to Rs 55.57 crore on a 46.5% drop in revenue from operations to Rs 182.90 crore in Q1 FY26 over Q1 FY25.

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