Nifty tad below 25,900 level; metal shares decline

The key equity benchmarks traded with modest losses in the early afternoon trade amid persistent foreign portfolio outflows, a weakening rupee, and continued uncertainty over a trade agreement with the United States. The Nifty traded a tad below the 25,900 level. Metal shares declined after advancing in the past four consecutive trading sessions.

At 12:30 ST, the barometer index, the S&P BSE Sensex, dropped 397.46 points or 0.47% to 84,815.90. The Nifty 50 index lost 129.45 points or 0.50% to 25,897.55.

In the broader market, the S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index slipped 0.48%.

The market breadth was negative. On the BSE, 1,616 shares rose and 2,312 shares fell. A total of 182 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.17% to 10.23. The Nifty 30 December 2025 futures were trading at 25,973.80, at a premium of 66.15 points as compared with the spot at 25,907.65.

The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 81.9 lakh contracts at the 26,000 strike price. Maximum put OI of 80.9 lakh contracts was seen at 26,000 strike price.

Buzzing Index:

The Nifty Metal index rose 1.28% to 10,418.15. The index fell 3.02% in the four consecutive trading sessions.

Hindustan Copper (down 2.63%), Steel Authority of India (down 2.55%), NMDC (down 2.15%), Tata Steel (down 2.01%), Jindal Steel (down 1.84%), JSW Steel (down 1.79%), Hindalco Industries (down 1.67%), Adani Enterprises (down 1.61%), National Aluminium Company (down 1.4%) and APL Apollo Tubes (down 0.49%) rose.

Stocks in Spotlight:

RBL Bank slipped 1.76% after Buvanesh Tharashankar, chief financial officer (CFO), tendered his resignation to pursue opportunities outside the bank.

Ion Exchange India rallied 6.32% after the company received orders aggregating to around Rs 205 crore from multiple customers for ultra-pure water and wastewater treatment projects.

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