The domestic equity benchmarks traded with moderate losses in the mid- afternoon trade, recovering partially from sharp early declines. Investor sentiment remained cautious amid escalating geopolitical tensions following U.S. airstrikes on Iranian nuclear facilities.
The Nifty traded below the 25,000 level. Private Bank shares slipped after advancing for previous trading session.
At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 435.53 points or 0.53% to 81,957.46. The Nifty 50 index slipped 128.20 points or 0.52% to 24,982.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.14% and the S&P BSE Small-Cap index added 0.42%.
The market breadth was negative. On the BSE, 1,748 shares rose and 2,253 shares fell. A total of 184 shares were unchanged.
Economy:
The HSBC Flash India Composite Output Index—a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors—climbed to a 14-month high of 61.0 in June. Rising from 59.3 in May, the latest reading was consistent with a sharp rate of expansion that was well above the long-run series average.
The HSBC Flash India Manufacturing PMI rose from 57.6 in May to 58.4 in June, signalling the best improvement in operating conditions since April 2024.
Buzzing Index:
The Nifty Private Bank index shed 0.15% to 27,938.25. The index added 1.03% in previous consecutive trading session.
RBL Bank (up 2.9%), IDFC First Bank (up 1.15%), Yes Bank (up 0.91%), IndusInd Bank (up 0.39%) and Kotak Mahindra Bank (up 0.3%), Federal Bank (up 0.3%), Bandhan Bank (up 0.09%) added.
On the other hand, HDFC Bank (down 0.71%), ICICI Bank (down 0.46%) and Axis Bank (down 0.18%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.02% to 6.317 from the previous close of 6.310.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.7150 compared with its close of 86.5550 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement shed 0.10% to Rs 99,006.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.43% to 99.13.
The United States 10-year bond yield added 0.46% to 4.395.
Stocks in Spotlight:
NBCC (India) rose 1.49% after the company secured an order worth Rs 296.53 crore from the Meerut Development Authority (MDA) for redevelopment projects in Meerut, Uttar Pradesh.
Ideaforge Technology hit an upper limit of 10% after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence.