The Nifty traded below the 24,950 mark. FMCG shares declined after advancing in the past trading session.

At 12:28 ST, the barometer index, the S&P BSE Sensex, tanked 621.76 points or 0.76% to 81,785.82. The Nifty 50 index slipped 170.45 points or 0.68% to 24,941.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index added 0.36%.

The market breadth was negative. On the BSE, 1,673 shares rose and 2,209 shares fell. A total of 208 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.79% to 14.06. The Nifty 26 Jun 2025 futures were trading at 24,945.20, at a premium of 3.25 points as compared with the spot at 24,941.95.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 146.9 lakh contracts at the 26,000 strike price. Maximum put OI of 104.6 lakh contracts was seen at the 24,900 strike price.

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 FMCG index fell 0.58% to 54,316.65. The index rose 0.64% in the past trading session.

Patanjali Foods (down 1.87%), Hindustan Unilever (down 1.6%), United Spirits (down 1.45%), Godrej Consumer Products (down 1.03%), Britannia Industries (down 1.01%), ITC (down 0.69%) and Dabur India (down 0.41%) declined.

On the other hand, Colgate-Palmolive (India) (up 1.18%), Varun Beverages (up 1.16%) and Nestle India (up 0.52%) edged higher.

Stocks in Spotlight:

Avantel surged 8.16% after the company secured two orders worth Rs 24.73 crore from Mazagon Dock Shipbuilders and Defence Electronics Applications Laboratory, DRDO.

Waaree Renewable Technologies rose 0.74%. The company announced that it has signed a non-binding memorandum of understanding (MoU) with Viet Khanh Joint Stock Company for the execution of engineering, procurement, and construction (EPC) work for a solar power project.

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