At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 393.56 points or 0.49% to 80,625.16. The Nifty 50 index declined 111.30 points or 0.45% to 24,611.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.54% and the S&P BSE Small-Cap index shed 0.23%.

The market breadth was negative. On the BSE, 1,644 shares rose and 1,891 shares fell. A total of 181 shares were unchanged.

Trump Tariffs:

U.S. President Donald Trump has announced his plans to significantly raise tariffs on Indian exports to the country.

"India is not only buying massive amounts of Russian oil, but they are then, for much of the oil purchased, selling it on the open market for big profits,” Trump reportedly wrote on a social media platform.

India said it was being 'targeted’ by the U.S. and the European Union over its imports of Russian oil after U.S. President Donald Trump, in an overnight social media post, threatened New Delhi with much steeper tariffs.

India began importing oil from Russia only after traditional supplies were diverted to Europe following the outbreak of the Russia-Ukraine war in 2022, the Indian foreign ministry reportedly said in a statement.

The ministry stated that it was revealing that the very nations criticizing India—namely the EU and the U.S.—were themselves engaging in trade with Russia.

The EU’s bilateral trade with Russia stood at 67.5 billion euros ($78.1 billion) in 2024, while its services trade in 2023 was at 17.2 billion euros, according to European Commission data. Citing that data, India said the bloc’s trade was “significantly more” than India’s total trade with Russia.

Earnings Today:

Adani Ports and Special Economic Zone (down 1.48%), Bharti Airtel (up 0.80%), Britannia Industries (down 2.06%), Lupin (down 1.22%), Torrent Power (down 0.36%), The Anup Engineering (up 0.11%), Alembic Pharmaceuticals (down 1.37%), Automotive Axles (down 1.76%), Avalon Technologies (down 0.60%), Berger Paints India (up 0.24%), Bharti Hexacom (down 1.06%), BLS International Services (up 0.38%), CARE Ratings (down 0.20%), Castrol India (up 1.05%), CCL Products (India) (down 0.69%), and Exide Industries (down 0.51%) will announce their quarterly earnings later today.

New Listing

Shares of Aditya Infotech were currently trading at Rs 1,022.60 at 10:13 IST on the BSE, representing a premium of 51.50% compared with the issue price of Rs 675.

The scrip was listed at Rs 1,018, exhibiting a premium of 50.81% to the issue price.

So far, the stock has hit a high of Rs 1,042.50 and a low of Rs 1,014.65. On the BSE, over 8 lakh shares of the company were traded in the counter so far.

Shares of Laxmi India Finance were currently trading at Rs 143.45 at 10:15 IST on the BSE, representing a discount of 9.21% compared with the issue price of Rs 158.

The scrip was listed at Rs 136, exhibiting a discount of 13.92% to the issue price.

So far, the stock has hit a high of Rs 146.70 and a low of Rs 136.00. On the BSE, over 3.78 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index fell 1.15% to 901.55. The index rose 1.77% in the past trading sessions.

DLF (down 2.18%), Lodha Developers (down 1.56%), Prestige Estates Projects (down 1.29%), Oberoi Realty (down 0.86%), Godrej Properties (down 0.51%), Sobha (down 0.37%), Phoenix Mills (down 0.35%), Brigade Enterprises (down 0.19%) declined.

On the other hand, Raymond (up 0.84%) and Anant Raj (up 0.68%) edged higher.

Stocks in Spotlight:

Delta Corp shed 0.13%. The company’s consolidated net profit jumped 35.89% to Rs 29.46 crore on a 3.5% increase in revenue from operations to Rs 184.17 crore in Q1 FY26 over Q1 FY25.

RailTel Corporation of India rose 0.62%. The company announced that it has received a Letter of Intent (LoI) from Bihar State Electronics Development Corporation for a project worth Rs 216.81 crore.