Benchmarks trade with minor gains; PSU bank shares drop

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The key equity barometers traded with minor gains in the early afternoon trade, supported by growing expectations of an interest rate cut by RBI in its December meeting. Traders now await the Q2 GDP data, due for release on 28 November 2025. The Nifty traded above the 26,200 mark.

PSU bank shares fell after advancing in the past two trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 145.72 points or 0.17% to 85,755.23. The Nifty 50 index surged 18.95 points or 0.08% to 26,224.85.

The Nifty 50 and the Sensex hit fresh all-time highs in morning trade at 26,306.95 and 86,026.18, respectively, while the Bank Nifty also scaled a new record high of 59,804.65.

In the broader market, the S&P BSE Mid-Cap index shed 0.21% and the S&P BSE Small-Cap index fell 0.28%.

The market breadth was almost even. On the BSE,1,960 shares rose and 1,950 shares fell. A total of 219 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.37% to 12.13. The Nifty 30 December 2025 futures were trading at 26,403.10, at a premium of 178.25 points as compared with the spot at 26,224.85.

The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 62.4 lakh contracts at the 26,000 strike price. Maximum put OI of 77 lakh contracts was seen at 26,000 strike price.

Buzzing Index:

The Nifty PSU Bank index declined 0.92% to 8,473.05. The index rose 2.23% in the past two consecutive trading sessions.

Indian Bank (down 3.06%), Bank of India (down 1.83%), Union Bank of India (down 1.35%), Indian Overseas Bank (down 1.04%), State Bank of India (down 0.9%), Punjab & Sind Bank (down 0.76%), Punjab National Bank (down 0.64%), UCO Bank (down 0.61%), Bank of Baroda (down 0.57%) and Bank of Maharashtra (down 0.57%) declined.

Stocks in Spotlight:

Lokesh Machines fell 1.96% after the company announced that it received an order worth Rs 7.96 crore from Kirloskar Oil Engines.

Glenmark Pharmaceuticals rose 0.68%. The U.S. FDA issued a positive establishment inspection report (EIR) with voluntary action indicated (VAI) status for the company's formulations manufacturing facility in Monroe, North Carolina.

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