The key equity indices reversed all early gains and traded with minor losses in morning trade, as the Bank of Japan raised its key short-term interest rate to about 0.5%, the highest level in 17 years. The Nifty traded below the 23,200 level after hitting the day's high of 23,292.05 in early trade. Media shares dropped after advancing in the past trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex shed 26.18 points or 0.03% to 76,494.20. The Nifty 50 index lost 21.60 points or 0.09% to 23,183.75.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.85% and the S&P BSE Small-Cap index fell 1.06%.
The market breadth was weak. On the BSE, 1,124 shares rose and 2,368 shares fell. A total of 172 shares were unchanged.
Result Today:
JSW Steel (up 0.06%), Hindustan Petroleum Corporation (up 0.97%), Bank of India (down 0.70%), InterGlobe Aviation (up 1.01%), Godrej Consumer Products (down 0.97%), DLF (down 0.76%), AU Small Finance Bank (down 1.44%), Aditya Birla Money (down 1.64%), DAM Capital Advisors (up 1.11%), DCB Bank (down 0.74%), Fedbank Financial Services (down 0.16%), Granules India (down 3.10%), Jindal Saw (down 1.49%), Laurus Labs (down 0.71%), Shriram Finance (up 0.79%), Solara Active Pharma Sciences (down 0.93%), Supriya Lifescience (down 0.32%), Torrent Pharmaceuticals (down 0.75%) and Trident (down 0.19%) will declare their earnings later today.
Buzzing Index:
The Nifty Media index slumped 2.21% to 1,649.95. The index rallied 1.23% in the past trading session.
Nazara Technologies (down 2.49%), Zee Entertainment Enterprises (down 2.35%), Saregama India (down 1.92%), Tips Music (down 1.81%), Dish TV India (down 1.49%), Sun TV Network (down 1.37%), Network 18 Media & Investments (down 1.34%), PVR Inox (down 1.33%) and Hathway Cable & Datacom (down 0.59%) declined.
Stocks in Spotlight:
Kalpataru Projects International declined 1.39%. The company said that it has secured new orders/notification of awards of Rs 2,038 crore.
Mankind Pharma dropped 4.09% after the company’s consolidated net profit declined 16.2% YoY to Rs 380.23 crore in Q3 FY25. Net sales increased 23.9% to Rs 3230 crore in Q3 FY25 as compared with Rs 2,606.95 crore in Q3 FY24.
Jyoti Structures surged 7.78% after the company received award for a project worth Rs 741.28 crore from Power grid Corporation of IndiaThe project involves the design, detailing, testing, supply of towers, and all line materials, as well as the commissioning of Package 01 of the 800 kV HVDC Bipole Line between KPS2 (HVDC) and Nagpur (HVDC) on a total turnkey basis.