At 12:30 IST, the S&P BSE Sensex declined 528.41 points or 0.68% to 77,087.99. The Nifty 50 index fell 147.55 points or 0.61% to 24,063.45.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.68% and the BSE 250 SmallCap Index dropped 1.11%.
The market breadth was weak. On the BSE, 1,433 shares rose and 2,578 shares fell. A total of 208 shares were unchanged.
Economy:
India’s retail inflation breached the Reserve Bank’s target for the first time in 17 months, government data showed on Monday, setting the stage for interest rate hikes in an economy at risk from a prolonged West Asia conflict.
The consumer price index rose to 4.38% year-over-year in June, up from 3.93% figure that was recorded in May. Inflation was led by higher fuel and food costs, which rose amid Iran war-driven supply disruptions and a delay in seasonal rains.
The year-on-year inflation rate based on the All India Consumer Food Price Index (CFPI) for the month of June was 5.32%, India’s Ministry of Statistics and Program Implementation said in a Monday release. Transport inflation rose 4.3% in June, quicker than the 1.75% rise in May.
Derivatives :
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, rose 2.54% to 13.62. The Nifty 28 July 2026 futures were trading at 24,070.80 at a premium of 7.35 points as compared with the spot at 24,063.45.
The Nifty option chain for the 28 July 2026 expiry showed a maximum call OI of 67.1 lakh contracts at the 25,000 strike price. Maximum put OI of 61.1 lakh contracts was seen at a 24,000 strike price.
Buzzing Index:
The Nifty Financial Services index fell 1.15% to 26,526.65. The index fell 1.15% in the previous three trading sessions.
HDFC Life Insurance Company (down 2.95%), Max Financial Services (down 2.16%), ICICI Lombard General Insurance Company (down 2.13%), Shriram Finance (down 2.12%) and Cholamandalam Investment & Finance Company (down 2.1%), Bajaj Finserv (down 2.1%), Jio Financial Services (down 1.87%), Bajaj Finance (down 1.81%), Muthoot Finance (down 1.72%) and Kotak Mahindra Bank (down 1.66%) fell.
On the other hand, SBI Cards & Payment Services (up 1.83%) ,Power Finance Corporation (up 0.46%) and BSE (up 0.41%) added.
Stocks in Spotlight:
EMS fell 2.53%. The company has emerged as the lowest bidder (L-1) for a sewerage project awarded by UP Jal Nigam (Urban), Varanasi, with an estimated order value of Rs 105.82 crore.
Welspun Corp added 2.17% after the company announced the receipt of fresh large orders for supply of pipes for Oil & Gas export projects, from its India facility, cumulatively valued at approximately Rs 1,400 crore.
Captain Polyplast added 1.80% after it has secured a Rs 23.6 crore order from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply and installation of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems under the PM Kusum-B Scheme.