The Nifty traded below the 24,850 mark. Media stocks slipped for the third straight trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex shed 23.97 points or 0.04% to 81,412.43. The Nifty 50 index fell 6.25 points or 0.02% to 24,805.50.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.10% and the S&P BSE Small-Cap index shed 1.19%.

The market breadth was weak. On the BSE, 1,034 shares rose and 2,750 shares fell. A total of 169 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.13% to 14.52. The Nifty 26 Jun 2025 futures were trading at 24,828.10, at a premium of 22.6 points as compared with the spot at 24,805.50.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 89.2 lakh contracts at the 26,000 strike price. Maximum put OI of 62.1 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Media index fell 0.96% to 1,685.10. The index slipped 2.92% in the three consecutive trading sessions.

Zee Entertainment Enterprises (down 2.91%), Tips Music (down 1%), Sun TV Network (down 0.99%), Nazara Technologies (down 0.89%), Hathway Cable & Datacom (down 0.87%), Saregama India (down 0.19%), D B Corp (down 0.04%) declined

On the other hand, Dish TV India (up 1.89%) ,PVR Inox (up 0.79%) and Network 18 Media & Investments (up 0.25%) added.

Stocks in Spotlight:

Markolines Pavement Technologies gained 3.47% after the company announced that it has secured a maintenance contract worth Rs 18.88 crore from Varanasi-Aurangabad NH-2 Tollway.

Tata Elxsi fell 2.18%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market.

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