Nifty below 25,600 level; FMCG shares decline
The key equity benchmark traded with modest losses in early afternoon trade, weighed down by a mix of global and domestic factors. India's recent forex data revealed a decline in its reserves. Meanwhile, the Israel-Iran truce helped ease geopolitical tensions, and growing optimism over a potential US-India trade deal supported sentiment. Inflows from foreign institutional investors further contributed to the positive undertone. Even concerns around the July 9 U.S. tariff deadline took a backseat, as reports of a likely extension helped calm investor nerves.
The Nifty traded below the 25,600 level. FMCG stocks declined for the second consecutive trading session.
At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 231.76 points or 0.28% to 83,827.14. The Nifty 50 index lost 65.20 points or 0.25% to 25,573.10.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.50% and the S&P BSE Small-Cap index jumped 0.70%.
The market breadth was positive. On the BSE, 2,314 shares rose and 1,625 shares fell. A total of 201 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.48% to 12.70. The Nifty 31 July 2025 futures were trading at 25,678.30, at a premium of 105.2 points as compared with the spot at 25,573.10.
The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 41.4 lakh contracts at the 26,000 strike price. Maximum put OI of 65.1 lakh contracts was seen at 25,000 strike price.
Buzzing Index:
The Nifty FMCG index shed 0.29% to 54,948.20. The index fell 0.31% in the two consecutive trading sessions.
Tata Consumer Products (down 2.54%), Marico (down 1.59%), United Spirits (down 1.03%), Dabur India (down 0.79%), Patanjali Foods (down 0.59%), Varun Beverages (down 0.53%), Nestle India (down 0.41%), ITC (down 0.08%), Godrej Consumer Products (down 0.08%) and Hindustan Unilever (down 0.03%) fell.
On the other hand, Colgate-Palmolive (India) (up 1.08%), United Breweries (up 0.76%) and Emami (up 0.26%) edged higher.
Stocks in Spotlight:
Waaree Energies rallied 5.43% after the firms wholly owned subsidiary, Waaree Solar Americas, received an order to supply 540 MW of solar modules from a renowned customer located in the United States.
Karnataka Bank declined 5.51% after the banks board accepted the resignation of managing director (MD) & chief executive officer (CEO), Srikrishnan Hari Hara Sarma, effective from 15 July 2025.
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