Nifty trades above 24,600 level; metal shares in demand

The headline equity benchmarks recovered from mid-morning losses and traded with modest gains in early afternoon trade. The Nifty traded above the 24,600 level. Metal shares extended gains for the second for trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex rose 53.79 points or 0.07% to 80,664.07. The Nifty 50 index added 29.60 points or 0.12% to 24,614.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.33%.

The market breadth was positive. On the BSE 2,248 shares rose and 1,598 shares fell. A total of 117 shares were unchanged.

 

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.02% to 12.22. The Nifty 28 August 2025 futures were trading at 24,644 at a premium of 29.35 points as compared with the spot at 24,614.65.

The Nifty option chain for the 28 August 2025 expiry showed a maximum call OI of 65.6 lakh contracts at the 25,000 strike price. Maximum put OI of 41.9 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty Metal index rose 0.85% to 9,273.15. The index added 1.37% in the second trading session.

Jindal Stainless (up 3.29%), Welspun Corp (up 1.66%), Tata Steel (up 1.65%), Hindustan Zinc (up 1.61%) and Steel Authority of India (up 1.14%), Jindal Steel & Power (up 1.04%), Lloyds Metals & Energy (up 0.97%), Vedanta (up 0.91%), Adani Enterprises (up 0.9%) and NMDC (up 0.85%) added.

On the other hand, APL Apollo Tubes (down 0.76%), Hindustan Copper (down 0.24%) and Hindalco Industries (down 0.17%) edged lower.

Stocks in Spotlight:

Power and Instrumentation (Gujarat) added 2% after the firm said that it had received a significant work order worth Rs 70.55 crore from Ajmer Vidyut Vitran Nigam in Rajasthan under the RDSS scheme.

Tilaknagar Industries jumped 5.30% after the company reported a 120.8% surge in consolidated net profit to Rs 88.51 crore on a 30.6% increase in revenue from operations (excluding excise duty) to Rs 409.14 crore in Q1 FY26 over Q1 FY25.

Titagarh Rail Systems added 2.74%. The company reported 53.82% decline in consolidated net profit to Rs 30.94 crore in Q1 FY26 as against Rs 67.01 crore posted in Q1 FY25. Revenue from operations decreased 24.77% year-on-year (YoY) to Rs 679.30 crore in the quarter ended 30 June 2025.

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