The Nifty traded below the 24,600 level. Pharma shares declined for the second consecutive session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 478.80 points or 0.59% to 80,307.74. The Nifty 50 index slipped 119.30 points or 0.48% to 24,589.30.

In the broader market, the S&P BSE Mid-Cap index slipped 0.51% and the S&P BSE Small-Cap index fell 0.40%.

The market breadth was negative. On the BSE, 1,618 shares rose and 2,275 shares fell. A total of 188 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.20% to 12.34. The Nifty 28 August 2025 futures were trading at 24,713.40, at a premium of 124.1 points as compared with the spot at 24,802.80.

The Nifty option chain for the 28 August 2025 expiry showed a maximum call OI of 195.7 lakh contracts at the 25,000 strike price. Maximum put OI of 281 lakh contracts was seen at 24,600 strike price.

Buzzing Index:

The Nifty Pharma index declined 0.65% to 21,847.35. The index dropped 2.3% in two consecutive trading sessions.

Gland Pharma (down 2.13%), Ajanta Pharma (down 1.71%), Sun Pharmaceutical Industries (down 1.63%), Zydus Lifesciences (down 1.45%), Aurobindo Pharma (down 1.39%), Lupin (down 1.27%), Ipca Laboratories (down 0.87%), Mankind Pharma (down 0.76%), Alkem Laboratories (down 0.73%) and Dr Reddys Laboratories (down 0.63%) declined.

On the other hand, Natco Pharma (up 1.36%), Granules India (up 0.8%) and Laurus Labs (up 0.6%) edged higher.

Stocks in Spotlight:

Websol Energy System added 3.56% after the company announced that its board will meet on Monday, 01 September 2025, to consider a proposal for undertaking the sub-division of the equity shares of the company.

Rail Vikas Nigam rose 0.06%. The company has signed a joint venture agreement with Texmaco Rail & Engineering for undertaking projects in the railway and allied infrastructure sectors.

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