Mid-Day Market Update: Markets flat; SMIDs outperform, Vedanta slumps on debt concerns
Published on 09/07/2025 01:33 PM
Indian benchmark indices traded largely flat in Wednesday’s afternoon session amid mixed cues and sector-specific action. The BSE Sensex slipped 12.48 points to 83,679.8, while the NSE Nifty50 declined 8.25 points to 25,530.75, down by 0.01 per cent and 0.03 per cent, respectively.
Broader markets, however, showed resilience. The Nifty MidCap index edged up 0.10 per cent, and the Nifty SmallCap index rose 0.64 per cent, reflecting sustained investor interest in small- and mid-cap stocks.
Sector-wise, FMCG and Auto stocks led the gains, driven by firm demand indicators and upbeat monthly sales data. On the other hand, IT and Metal stocks remained under pressure. Among individual stocks, Vedanta witnessed heavy selling and plunged as much as 8 per cent to ₹421 on the BSE during intra-day trade. The sharp fall followed a report from US-based Viceroy Research, which disclosed a short position against the parent company’s debt, citing an unsustainable financial structure and operational concerns. The stock later recovered slightly to trade around ₹439.
In industry developments, the mutual fund sector is closing in on a major milestone. Total Assets Under Management (AUM) touched ₹74.5 lakh crore in June. Equity inflows remained strong at nearly ₹23,300 crore, marking a rise of about ₹4,000 crore compared to May. The Flexi Cap category drew robust interest, with inflows of ₹5,700 crore, and is now on track to become the largest equity category by AUM, which stands at ₹4.8 lakh crore.
Investors are now awaiting upcoming earnings releases and macroeconomic data, which will likely shape near-term market direction.
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