At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 54.63 points or 0.07% to 76,677.54. The Nifty 50 index lost 10.55 points or 0.04% to 23,935.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.51% and the BSE 250 SmallCap Index added 0.55%.

The market breadth was positive. On the BSE, 2,237 shares rose and 1,730 shares fell. A total of 210 shares were unchanged.

Economy:

India's industrial output edged up to 5.1% in May, improving from 4.9% in April, driven by stronger electricity generation and broad-based manufacturing growth, according to quick estimates of the Index of Industrial Production (IIP) data out yesterday. Manufacturing, which carries the highest weight of 76 percent in the IIP basket, marked a surge of 5.5% in May, slightly lower than the growth in April, indicating steady momentum in industrial activity. Electrical equipment recorded the strongest expansion among major manufacturing segments, rising around 21%.

The May reading is the second data release under the new IIP series with the base year of 2022-23, which MOSPI first published on June 1. Electricity and gas supply was the fastest-growing major sector, recording 9.9% growth in May, driven by elevated temperatures as well as a low base. The mining and quarrying sector contracted 1.6%. On a use-based categorization, capital goods were the strongest category, with growth of around 13%. Infrastructure and construction goods rose 5.9%, consumer durables gained 7.2%, and intermediate goods edged up 5.8 percent. Primary goods and consumer non-durables were the laggards, at 2.6 percent and 3.6 percent, respectively.

Buzzing Index:

The Nifty Realty index advanced 1.32% to 829.65. The index shed 0.90% in the past trading session.

Godrej Properties (up 2.5%), Phoenix Mills (up 2.38%), Prestige Estates Projects (up 1.84%), Sobha (up 0.96%), Lodha Developers (up 0.84%), Aditya Birla Real Estate (up 0.78%), Oberoi Realty (up 0.76%), DLF (up 0.7%), and Anant Raj (up 0.2%) rose.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.52% to 13.40. The Nifty 30 June 2026 futures were trading at 24,021.90, at a premium of 86.2 points as compared with the spot at 23,935.70.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 446 lakh contracts at the 24,000 strike price. A maximum put OI of 321.5 lakh contracts was seen at the 23,900 strike price.

Stocks in Spotlight:

Dishman Carbogen Amcis added 2.91% after the company's wholly owned subsidiary, namely CARBOGEN AMCIS AG, successfully commissioned a ground-mounted photovoltaic system at its Neuland site in Switzerland.

SRM Contractors rose 1.61% after bagging three contracts worth Rs 500.99 crore from Maharashtra State Infrastructure Development Corporation, Ministry of Road Transport & Highways (MoRTH), and Northeast Frontier Railway (NFR) Construction.

Godrej Properties rose 2.36% after the company announced the acquisition of a 47-acre land parcel through an outright purchase, which is located off Old Mahabalipuram Road (OMR), one of the fast-growing micro-markets in South Chennai.

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