The headline equity benchmarks pared all gains and traded with minor losses in the mid-afternoon trade. The Nifty slipped below the 24,500 level. Private bank shares advanced after declining in the past two consecutive trading sessions.
At 14:30 IST, the barometer index, the S&P BSE Sensex declined 102.12 points or 0.12% to 79,978.57. The Nifty 50 index lost 27.20 points or 0.11% to 24,476.
In the broader market, the S&P BSE Mid-Cap index slipped 0.16% and the S&P BSE Small-Cap index shed 0.04%.
The market breadth was positive. On the BSE, 2,021 shares rose and 1,965 shares fell. A total of 204 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.91% to 11.82.
Buzzing Index:
The Nifty Private Bank index added 0.30% to 26,153.55. The index tumbled 2.33% in two consecutive trading sessions.
RBL Bank (up 3.31%), Yes Bank (up 2.57%), Kotak Mahindra Bank (up 1.07%), ICICI Bank (up 0.15%), Federal Bank (up 0.12%), Bandhan Bank (up 0.10%) and IDFC First Bank (up 0.07%) advanced.
On the other hand, IndusInd Bank (down 0.92%), HDFC Bank (down 0.42%) and Axis Bank (down 0.16%) edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.32% to 6.559 from the previous close of 6.538.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.1975 compared with its close of 87.5850 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement rose 0.59% to Rs 102,698.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 97.80.
The United States 10-year bond yield added 0.45% to 4.226.
In the commodities market, Brent crude for October 2025 settlement lost 54 cents or 0.37% to $67.61 a barrel.
Stocks in Spotlight:
ABB India rose 0.77%. The company announced that it has secured an order worth Rs 173.55 crore from Siemens Gamesa Renewable Power, Chennai, for the supply of 3.X wind turbine converters and electrical cabinets.
RMC Switchgears advanced 1.20% after the company’s board is scheduled to meet on 30th August 2025, to consider raising funds through various instruments via different modes in one or more tranches.