Sensex rallies 633 pts; Nifty above 24,950 mark; VIX slumps 5.15%

The headline equity benchmarks traded with significant gains in early afternoon trade, continuing to show resilience amid escalating tensions between Israel and Iran. Market sentiment remains sensitive to global cues, including crude oil prices and other international developments.

The Nifty traded above the 24,950 mark. Metal stocks rebound after three-day losing streak.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 633.07 points or 0.77% to 81,995.19. The Nifty 50 index jumped 192.85 points or 0.78% to 24,986.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.66% and the S&P BSE Small-Cap index added 0.44%.

The market breadth was strong. On the BSE, 2,397 shares rose and 1,360 shares fell. A total of 180 shares were unchanged.

 

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 5.15% to 13.52. The Nifty 26 Jun 2025 futures were trading at 25,085, at a premium of 98.9 points as compared with the spot at 24,986.10.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 139.6 lakh contracts at the 26,000 strike price. Maximum put OI of 123.8 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty Metal index rose 1.22% to 9,151. The index slipped 2.21% in the past three consecutive trading sessions.

JSW Steel (up 1.93%), Welspun Corp (up 1.79%), Lloyds Metals & Energy (up 1.76%), Vedanta (up 1.57%) and Hindalco Industries (up 1.54%), Steel Authority of India (up 1.41%), Adani Enterprises (up 1.37%), Hindustan Copper (up 1.22%), NMDC (up 1.21%) and Tata Steel (up 1.15%) added.

Stocks in Spotlight:

Dilip Buildcon rose 0.97%. The company announced that it has received a letter of acceptance (LoI) worth Rs 1,341 crore from Konkan Railway Corporation (KRCL).

Uno Minda added 2.13% after the companys board has approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar, Maharashtra for Rs 210 crore.

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