Nifty Holds Near 25,450 in Early Friday Trade; VMM Slides on Promoter Block Deal

Indian equities opened Friday’s session on a cautious note, with the NIFTY 50 trading around the 25,450 mark at 9:21 AM, while the BSE Sensex hovered near the 82,000 level.

Early trade suggests continued consolidation, with the Nifty moving within a tight 100–120 point band. Market participants appear reluctant to build aggressive long positions ahead of fresh global cues and domestic triggers. Immediate technical support is seen near 25,300, while resistance remains around 25,550–25,600.

Broader market indices showed slightly higher volatility compared to the benchmarks, indicating stock-specific participation rather than broad-based buying.

Vishal Mega Mart Weak After ₹3,507 Crore Block Deal

Shares of Vishal Mega Mart were under pressure in early trade following the announcement of a 6.5% promoter stake sale via a block deal.

The floor price for the transaction has been set at ₹115 per share, nearly a 10% discount to the previous closing price. The total deal size is estimated at approximately ₹3,507.5 crore. If completed, promoter holding is expected to fall from above 54% to around 47.6%.

Despite the supply overhang, the company had recently reported a 19.1% year-on-year rise in net profit to ₹312.9 crore and a 17% increase in revenue to ₹3,670 crore. However, near-term price action is being dictated by the block deal dynamics.

Other Stocks in Focus This Morning

Bandhan Bank

Shares of Bandhan Bank remained active after regulatory approval allowed SBI Mutual Fund to raise its stake up to 9.99%. The stock was trading near ₹186 levels in early trade, reflecting sustained institutional interest.

Bharti Airtel

Telecom major Bharti Airtel was trading near ₹1,928 in early deals, marginally higher by under 1%. Investor attention remains on its reported ₹20,000 crore capital deployment strategy linked to financial services expansion.

Indian Oil & BPCL

Energy counters Indian Oil Corporation and Bharat Petroleum Corporation Limited were steady in early trade. Indian Oil remains in focus ahead of a board meeting to consider an interim dividend, while BPCL’s overseas subsidiary formation could strengthen its trading operations.

Alembic Pharmaceuticals

Alembic Pharmaceuticals saw mild buying interest after receiving US regulatory clearance for a generic drug, a potential earnings catalyst for its export portfolio.

Engineers India

Engineers India Limited remained on investors’ radar after declaring a ₹1.5 per share interim dividend, attracting yield-focused participants.

Friday’s early session indicates continued consolidation around the 25,450 mark. A decisive breakout above 25,600 may trigger fresh momentum buying, while a breach below 25,300 could invite short-term profit booking.

For now, the tone remains stock-specific, with promoter actions, regulatory approvals, and corporate announcements driving intraday volatility more than index-level catalysts.

Also read: India’s MSCI EM Weight Falls Under 14%, Ranking Slides to Fourth