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Market Commentary - Mid-Session

Nifty slips below 23,700 level; metal shares jump

26-Mar-2025, 10:30
The key domestic indices traded with minor losses in morning trade. The Nifty traded below 23,700 level. Metal shares advanced after declining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 102.44 points or 0.13% to 77,918.73. The Nifty 50 index fell 4.70 points or 0.02% to 23,663.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.30% and the S&P BSE Small-Cap index shed 0.15%.

The market breadth was negative. On the BSE, 1,608 shares rose and 1,959 shares fell. A total of 158 shares were unchanged.

Buzzing Index:

The Nifty Metal index jumped 0.62% to 1,517.05. The index declined 1.40% in the past trading session.

Hindustan Copper (up 2.5%), Vedanta (up 1.57%), Welspun Corp (up 1.27%), Hindustan Zinc (up 1.23%) and Jindal Stainless (up 0.94%), Steel Authority of India (up 0.7%), Adani Enterprises (up 0.6%), Hindalco Industries (up 0.26%), Ratnamani Metals & Tubes (up 0.23%) and Jindal Steel & Power (up 0.17%) advanced.

Stocks in Spotlight:

Indian Renewable Energy Development Agency fell 0.68%. The comapny said that it has raised Rs 910.37 crore through the issuance of privately placed subordinated Tier-II bonds for a 10-year tenor at an annual coupon rate of 7.74%

Oil & Natural Gas Corporation (ONGC) rose 0.02%. The company will make an investment of Rs 3,300 crore in subsidiary ONGC Green via rights issue. The subsidiary will utilize the proceeds for the acquisition of a 100% equity stake in Ayana Renewable Power through ONGC NTPC Green (ONGPL).