Mid-day market check: SENSEX, NIFTY50 extend losses; Paytm, MCX, Tanla Platforms among buzzing stocks

The Indian equity benchmarks extended losses in noon deals as surge in crude oil prices in international markets amid rising geopolitical tensions between Iran and Israel led to profit booking after a six-day winning streak. The SENSEX fell as much as 405 points and NIFTY50 index touched an intraday low of 25,020. As of 12:03 pm, the SENSEX was down 330 points at 82,185 and NIFTY50 index slipped 100 points to 25,041.

Here are buzzing stocks in Thursday's session:

Finance Ministry in a post on social media on Wednesday said, "Speculations and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading. Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI."

Paytm shares were witnessing heavier than usual trading volumes as 1.92 shares changed hands on the NSE as against an average of 41.67 lakh shares.

At the end of the March quarter (Q4 FY25), PhonePe held an 18.7% stake in MapMyIndia.

In a note to exchanges, Tanla Platforms informed that its board will be meeting on June 16 to consider a buyback.

Following this, shares of the firm soared over 12% to touch an intraday high of ₹701.65 apiece. At the time of writing this, the stock was seen at ₹689.90 per share, jumping 10.8% on the National Stock Exchange.

MCX shares staged their its longest winning streak of nine sessions in nearly two months, data from BSE showed.

MCX shares gained for nine consecutive sessions starting May 28 to June 9 during which MCX shares advanced as much as 25% to hit record high of ₹8,033.30 on the BSE.

The sharp surge in MCX shares came after SEBI approved its move to launch electricity derivatives contracts.

The Electricity Derivatives Contracts to be introduced by MCX will enable generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market, MCX had said earlier this month.

The stock climbed as much as 15.21% to ₹88.68 apiece on the National Stock Exchange (NSE). At 10 am, it was up 12.69% to ₹86.74 per unit.

According to a exchange filing on June 11, the company, via its Global Services Business (the demerged business vertical), in consortium with infrastructure developer Dilip Buildcon Ltd, entered into an agreement with BSNL. The order size is ₹2,631.14 crore.

As of 12:00 pm, ONGC shares were trading 2.66% higher at ₹253.80 apiece on the NSE, while Oil India was trading over 4.6% higher at ₹486.95.

A rise in oil prices is positive for oil-producing companies such as Oil India and ONGC.

On the other hand, oil marketing companies (OMCs) were trading in negative territory; Indian Oil Corporation (IOCL) shares were trading 1.56% lower at ₹142.70 apiece, while Bharat Petroleum Corporation (BPCL) shares were down nearly 2%. Hindustan Petroleum Corp (HPCL) was trading 2.77% lower at ₹403.15.