At 1:30 ST, the barometer index, the S&P BSE Sensex, slipped 123.46 points or 0.15% to 83,190.47. The Nifty 50 index fell 67.95 points or 0.27% to 25,568.60.

The broader market underperformed the frontline indices. The S&P BSE 150 MidCap Index fell 0.78% and the S&P BSE 250 SmallCap Index tanked 0.85%.

The market breadth was weak. On the BSE, 1,603 shares rose and 2,430 shares fell. A total of 168 shares were unchanged.

RBI MPC:

The Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) held its first monetary policy review of the calendar year 2026. RBI governor Sanjay Malhotra kept the key policy rate—repo rate—unchanged at 5.25%. Headline inflation during November and December remained below the tolerance band of the inflation target. The revised outlook for CPI inflation in Q1 and Q2 of next year, at 4% and 4.2%, respectively, is revised slightly upwards, said RBI governor Sanjay Malhotra. The Indian economy continues on a steady, improving trajectory, with real GDP poised to register significant higher growth of 7.4% this year, as compared to the previous year, amidst global headwinds, the governor noted. Going forward, economic activity is expected to hold up well in the next year, he added.

Gainers & Losers:

ITC (up 5.06%), Kotak Mahindra Bank (up 2.51%), Bharti Airtel (up 1.72%), Bajaj Finance (up 1.35%) and Hindustan Unilever (up 1.13%) were the major Nifty50 gainers.

Adani Ports and Special Economic Zone (down 2.58%), HDFC Life Insurance Company (down 2.51%), Tech Mahindra (down 2.33%), Tata Consultancy Services (down 2.10%) and SBI Life Insurance Company (down 2.05%) were the major Nifty50 losers.

Stocks in Spotlight:

Tata Motors Passenger Vehicles declined 1.76% after the company reported a consolidated net loss of Rs 3,486 crore in Q3 FY26 compared with a net profit of Rs 5,406 crore in Q3 FY25. Revenue from operations fell 25.81% YoY to Rs 69,605 crore during the quarter.

FSN E-Commerce Ventures (Nykaa) jumped 6.12% after the company’s consolidated net profit climbed surged 142.38% to Rs 63.31 crore on a 26.73% increase in revenue from operations to Rs 2873.26 crore in Q3 FY26 over Q3 FY25.

Bharti Airtel rose 1.79%. The company reported a 55.14% decline in consolidated net profit to Rs 6,630.5 crore, despite a 19.62% jump in revenue from operations to Rs 53,981.6 crore in Q3 FY26 over Q3 FY25.

Data Patterns (India) rallied 6.64% after the company’s standalone net profit jumped 30.54% to Rs 58.30 crore on a 47.92% surge in revenue from operations to Rs 173.13 crore in Q3 FY26, compared with Q3 FY25.

Hitachi Energy India surged 13.22% after the company’s standalone net profit soared 90.29% to Rs 261.42 crore on 27.71% increase in revenue from operations to Rs 2021.31 crore in Q3 FY26 over Q3 FY25.

Global Markets:

European equities opened on a mixed note on Friday, with investors exercising caution as a busy week of corporate earnings announcements across the region drew to a close.

Asian markets traded lower as South Korea led the losses on Friday, following the tech-driven sell-off on Wall Street.

South Korea’s market, which is heavily weighted in favor of companies in the chip and automotive industries, has seen sharp swings in the past week as sentiment over tech stocks sours.

Pharmaceutical stocks in Japan also slumped on Friday, after U.S. President Donald Trump unveiled his website offering discounted prescription medicines.

On the commodities front, spot silver prices continued their decline, falling 1.63% after crashing about 13% on Thursday.

Overnight in the U.S., the Dow Jones Industrial Average shed 1.20%, while the S&P 500 lost 1.23%, pushing it into negative territory for the year. The tech-heavy Nasdaq Composite posted the biggest decline, dropping 1.59%.

Tech giant Alphabet came under pressure after reporting fourth-quarter results and flagging a sharp rise in artificial intelligence spending, with capital expenditure totaling $185 billion for 2026.

Qualcomm slid more than 8% after posting a weaker forecast because of a global memory shortage.