Metal shares declined for the third consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, declined 592.22 points or 0.72% to 81,100.94. The Nifty 50 index fell 175 points or 0.70% to 24,713.20.

The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index slipped 0.48% and the S&P BSE Small-Cap index dropped 0.45%.

The market breadth was weak. On the BSE, 1,302 shares rose and 2,616 shares fell. A total of 150 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, soared 6.61% to 14.94.

Economy:

India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%.

Buzzing Index:

The Nifty Metal index fell 1.01% to 9,254.35. The index dropped 2.69% in the three consecutive trading sessions.

NMDC (down 3.09%), Welspun Corp (down 1.96%), Jindal Steel & Power (down 1.84%), Jindal Stainless (down 1.66%), Adani Enterprises (down 1.46%), Hindalco Industries (down 1.08%), Hindustan Copper (down 0.76%), National Aluminium Company (down 0.75%), Steel Authority of India (down 0.66%) and JSW Steel (down 0.66%) tumbld.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.43% to 6.310 from the previous close of 6.277.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.0625 compared with its close of 85.5200 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 1.65% to Rs 100,016.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.36% to 98.22.

The United States 10-year bond yield shed 0.21% to 4.347.

In the commodities market, Brent crude for August 2025 settlement jumped $4.20 or 6.06% to $73.56 a barrel amid heightened geopolitical tensions

Stocks in Spotlight:

Kernex Microsystems (India) hit an upper limit of 5% after the company said it secured two contracts from Southern Railways in a joint venture with VRRC, under the KERNEX-VRRC consortium.

Sigachi Industries added 2.49% after the firm informed that it has secured the Terms of Reference (ToR) approval from the State Environment Impact Assessment Authority (SEIAA), Andhra Pradesh.

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