JKB Financial Services Ltd.

As on : 26-Aug-2025

Market Commentary - Mid-Session
26-Aug-2025 14:34

Barometers trade with deep cuts; metal shares decline

The frontline equity benchmarks traded with major losses in the mid-afternoon trade, weighed down by concerns over potential U.S. trade actions. Sentiment turned cautious after the United States issued a draft notice proposing tariffs of up to 50% on Indian goods, set to take effect from Wednesday. The Nifty traded below the 24,800 level.

Metal shares declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 607.13 points or 0.80% to 81,028.78. The Nifty 50 index dropped 193.15 points or 0.77% to 24,774.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.08% and the S&P BSE Small-Cap index fell 1.33%.

The market breadth was weak. On the BSE, 1,259 shares rose and 2,789 shares fell. A total of 142 shares were unchanged.

The domestic equity market will remain closed tomorrow on account of Ganesh Chaturthi.

Buzzing Index:

The Nifty Metal index dropped 1.28% to 9,316.10. The index advanced 0.65% in the past trading session.

Vedanta (down 4.23%), Hindustan Copper (down 2.15%), Tata Steel (down 2.09%), Steel Authority of India (down 1.99%), Lloyds Metals & Energy (down 1.75%), Hindalco Industries (down 1.48%), Adani Enterprises (down 1.36%), National Aluminium Company (down 1.32%), Jindal Steel & Power (down 1.02%) and NMDC (down 1%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.65% to 6.635 from the previous close of 6.592.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.7275 compared with its close of 87.5625 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement added 0.38% to Rs 101,005.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 98.31.

The United States 10-year bond yield gained 0.68% to 4.304.

In the commodities market, Brent crude for October 2025 settlement lost 69 cents or 1% to $68.11 a barrel.

Stocks in Spotlight:

Sun Pharmaceutical Industries slipped 3.45% after a foreign brokerage downgraded the stock to 'underperform' from 'neutral' and cut its target price to Rs 1,570 from Rs 1,730.

Authum Investment & Infrastructure advanced 1.64% after the company entered into share subscription and purchase agreement (SSPA) to acquire 35.09% stake in Rivaar Labs for total consideration of Rs 36.57 crore.

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