The frontline indices traded with modest losses in the mid-morning trade, as global sentiment remained subdued. Investors continue to process the limited clarity stemming from the partial U.S.-China trade deal, an agreement that offers potential for renewed tariff tensions. The Nifty traded below the 25,100 level. The market was volatile due to the weekly expiry of the Nifty F&O series today.

Auto shares declined after advancing in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 209.87 points or 0.25% to 82,305.27. The Nifty 50 index fell 63.60 points or 0.25% to 25,077.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.38% and the S&P BSE Small-Cap index shed 0.13%.

The market breadth was negative. On the BSE, 1,677 shares rose and 2,058 shares fell. A total of 172 shares were unchanged.

Buzzing Index:

The Nifty Auto index shed 0.81% to 23,611.25. The index rose 0.19% in the past trading session.

Mahindra & Mahindra (down 1.45%), Samvardhana Motherson International (down 1.36%), Ashok Leyland (down 1.21%), Tata Motors (down 1.19%), Bharat Forge (down 1.13%), Exide Industries (down 1.12%), Tube Investments of India (down 0.99%), Bajaj Auto (down 0.5%), Balkrishna Industries (down 0.5%) and Hero MotoCorp (down 0.49%) fell.

On the other hand, TVS Motor Company (up 0.15%) ,Eicher Motors (up 0.03%) and Bosch (up 0.02%) edged higher.

Stocks in Spotlight:

Sterlite Technologies (STL) surged 11.37% to Rs 85.38 after the company announced it secured a Rs 2,631 crore contract from BSNL for building and maintaining the middle-mile network under BharatNet in Jammu & Kashmir and Ladakh.

Shakti Pumps India advanced 4.09% after the company announced that it has received a letter of award (LoA) worth Rs 114.58 crore from the Maharashtra Energy Department Agency (MEDA).

Global Markets:

US Dow Jones futures were down 127 points, signaling a weak start for Wall Street.

Asian stocks traded mixed as investors reacted to U.S. President Donald Trump's statement that a trade agreement with China was 'done,' pending final approval from both himself and Chinese President Xi Jinping. Trump indicated that the deal would include a 55% tariff on Chinese imports, a figure later confirmed by Commerce Secretary Howard Lutnick, who stated that tariffs would remain at that level.

In the U.S., major indices closed lower overnight. The S&P 500 fell 0.3%, while the NASDAQ Composite fell 0.5%. The Dow Jones Industrial Average closed flat at 42,865.77 points.

According to Trump's social media post, the agreement framework includes Chinese supply commitments for magnets and rare earth elements, while the U.S. would continue to permit Chinese students to attend American universities. Trump emphasized that the U.S. would maintain a 55% tariff, while China would impose a 10% tariff in return.

Separately, U.S. inflation data showed the Consumer Price Index (CPI) rose 2.4% year-over-year in May, slightly above April's 2.3%. On a monthly basis, CPI growth eased to 0.1%. Market participants are now focused on upcoming Producer Price Index (PPI) figures and weekly jobless claims for additional signals on the health of the U.S. economy.

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