Market drifts lower in early trade; breadth positive

The headline equity benchmarks traded with moderste losses in early trade. The Nifty traded below the 24,050 mark. IT, media and oil & gas shares declined while healthcare, pharma and metal shares advanced.

At 09:31 IST, the barometer index, the S&P BSE Sensex, fell 161.81 points or 0.21% to 76,938.66. The Nifty 50 index shed 13.40 points or 0.06% to 24,041.50.

In the broader market, the BSE 150 MidCap Index slipped 0.24% and the BSE 250 SmallCap Index dropped 0.47%.

The market breadth was positive. On the BSE, 1,386 shares rose and 2,010 shares fell. A total of 261 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, jumped 6.57% to 13.91.

Foreign portfolio investors (FPIs) bought shares worth Rs 383.76 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,747.75 crore in the Indian equity market on 25 June 2026, provisional data showed.

Stocks in Spotlight:

Transrail Lighting added 1.77 after the company announced that it has has secured new international orders worth approximately Rs 459 crore primarily in the Transmission & Distribution (T&D) business.

Aurobindo Pharma rose 1.21%. The company announced that the United States Food and Drug Administration (USFDA) had completed an inspection at its wholly owned subsidiary, Auroactive Pharma, located in Andhra Pradesh.

Numbers to Track:

The yield on India’s 10-year benchmark federal paper was up 0.13% to 6.783 as compared with previous close 6.774.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3500 compared with its close of 94.4500 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 0.29% to Rs 143,744.

The US Dollar Index (DXY), which tracks the greenback’s value against a basket of currencies, was up 0.04% to 101.17.

The United States 10-year bond yield rose 0.25% to 4.380.

In the commodities market, Brent crude for August 2026 settlement gained 60 cents or 0.83% to $73.20 a barrel.

Global Markets:

Asian markets traded mixed on Monday as tensions between Iran and the U.S. escalated once again following renewed attacks in the Middle East, which threaten to prolong the war.

The U.S. attacked Iranian military targets over the weekend in retaliation to Tehran carrying out strikes along the Strait of Hormuz. President Donald Trump then threatened to annihilate Iran, saying in a Truth Social post: ‘United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!’

Crude prices rose as traders weighed the potential of further disruption in the energy space. International Brent oil climbed 0.8% to $72.57 per barrel. West Texas Intermediate futures advanced 1.1% to $70.

Last week, the Nasdaq Composite posted its fifth consecutive losing session Friday as investors rotated out of key technology stocks and into more defensive areas of the market.

The tech-heavy index dropped 0.24% to close at 25,297.62, while the S&P 500 ticked down 0.05% to 7,354.02. The Dow Jones Industrial Average shed 44.51 points, or 0.09%, to end at 51,876.11.

The S&P 500 slid nearly 2% on the week, while the Nasdaq fell 4.6% in the period. The Dow outperformed, rising 0.6% week to date.

Chip stocks were weaker after a media report stated that OpenAI is considering delaying its IPO to next year because of SpaceX’s poor performance following its debut and overall volatility in AI-related shares.

The report raised concerns about “sustainability of their infrastructure spending given the delay in funding from the capital markets,’ a global research house reportedly said.

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