Nifty below 25,900 level; metal shares advance

The key equity indices traded with modest cuts in the morning trade. The Nifty traded below the 25,900 level. Metal shares extending gains for the fifth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 257.81 points or 0.30% to 84,504.75. The Nifty 50 index fell 74.45 points or 0.29% to 25,891.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.11% and the S&P BSE Small-Cap index rose 0.19%.

The market breadth was negative. On the BSE, 1,894 shares rose and 1,721 shares fell. A total of 262 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 1.08% to 10,580.15. The index rose 3.81% in the five consecutive trading sessions.

Welspun Corp (up 2.9%), Jindal Steel (up 2.39%), Tata Steel (up 2.08%), Hindalco Industries (up 1.88%), JSW Steel (up 0.71%), National Aluminium Company (up 0.66%), Vedanta (up 0.52%), APL Apollo Tubes (up 0.45%), Adani Enterprises (up 0.42%) and NMDC (up 0.31%) advanced.

Stocks in Spotlight:

Megasoft was locked in a 5% upper circuit after the company said that its wholly owned subsidiary Sigma Advanced Systems UK has signed a share purchase agreement for the acquisition of a 100% stake in Nasmyth Group, United Kingdom.

Jk Tyre & Industries rallied 2.44% after the company's consolidated net profit jumped 64% to Rs 221.40 crore on a 10.8% increase in net sales to Rs 4,011.31 crore in Q2 FY26 over Q2 FY25.

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