At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 155.20 points or 0.19% to 83,542.09. The Nifty 50 index lost 47.90 points or 0.19% to 25,493.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.10% and the S&P BSE Small-Cap index fell 0.17%.

The market breadth was negative. On the BSE, 1,749 shares rose and 2,096 shares fell. A total of 165 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.35% to 12.48. The Nifty 31 July 2025 futures were trading at 25,589.10, at a premium of 95.2 points as compared with the spot at 25,493.90.

The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 43.4 lakh contracts at the 26,000 strike price. Maximum put OI of 66.6 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty Metal index rose 1.67% to 9,724.40. The index gained 1.99% in two consecutive trading sessions.

JSW Steel (up 2.87%), Tata Steel (up 2.85%), Welspun Corp (up 2.73%), Jindal Steel & Power (up 2.56%), National Aluminium Company (up 2.4%), Steel Authority of India (up 2.34%), Vedanta (up 1.22%), Hindalco Industries (up 1.21%), Jindal Stainless (up 0.8%) and Hindustan Zinc (up 0.48%) advanced.

On the other hand, Lloyds Metals & Energy (down 2.06%), APL Apollo Tubes (down 1.39%) and NMDC (down 0.1%) edged lower.

Stocks in Spotlight:

RITES rallied 6.05% after the company announced that it has secured two orders, one from an international entity and another through a domestic joint venture.

Keystone Realtors jumped 4.26% after the company announced that it has been selected by 8 housing societies as the developer for the large-scale cluster redevelopment project in Andheri West, Mumbai.

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