Nifty trades above 25,250; metal shares rally for 3rd day
The Nifty traded above the 25,250 mark. Metal shares witnessed buying demand for the third consecutive trading session.
At 12:30 ST, the barometer index, the S&P BSE Sensex, zoomed 996.28 points or 1.22% to 82,893.77. The Nifty 50 index rallied 309.25 points or 1.24% to 25,281.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.95% and the S&P BSE Small-Cap index added 1.12%.
The market breadth was strong. On the BSE, 2,869 shares rose and 946 shares fell. A total of 175 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.54% to 13.69. The Nifty 26 Jun 2025 futures were trading at 25,313.80, at a premium of 32.35 points as compared with the spot at 25,281.45.
The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price.
Buzzing Index:
The Nifty Metal index jumped 1.97% to 9,379.65. The index rallied 3.75% in three consecutive trading sessions.
Steel Authority of India (up 4.55%), Welspun Corp (up 3.16%), NMDC (up 3.15%), Hindustan Copper (up 3.1%), Tata Steel (up 2.89%), Jindal Steel & Power (up 2.73%), Adani Enterprises (up 2.40%), Lloyds Metals & Energy (up 2.39%), JSW Steel (up 2.27%) and Hindalco Industries (up 1.68%) advanced.
Stocks in Spotlight:
Ugro Capital jumped 4.75% after the company announced the elevation of Anuj Pandey as its new chief executive officer, effective 1 July 2025.
Glenmark Pharmaceuticals added 0.37%. The company announced that it had launched TEVIMBRA (tislelizumab) in India after receiving approval from the Central Drugs Standard Control Organization (CDSCO).
Metro Brands rose 0.61%. The company stated that it has entered into a strategic partnership with British footwear brand 'Clarks, marking the brands re-entry into the Indian market.
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