The key equity benchmarks traded with modest cuts in the afternoon trade. The Nifty traded below the 25,650 mark. Metal, realty and consumer durables shares declined, while media, PSU bank and pharma shares advanced.
At 1:30 ST, the barometer index, the S&P BSE Sensex, slipped 460.46 points or 0.55% to 83,357.23. The Nifty 50 index fell 146.15 points or 0.57% to 25,629.55.
In the broader market, the S&P BSE 150 MidCap Index fell 0.52% and the S&P BSE 250 SmallCap Index tanked 0.85%.
The market breadth was negative. On the BSE, 1,584 shares rose and 2,395 shares fell. A total of 191 shares were unchanged.
RBI MPC:
The Reserve Bank's rate-setting panel has started its three-day meeting for the next bi-monthly monetary policy on Wednesday. The decision of RBI Governor Sanjay Malhotra-headed six-member Monetary Policy Committee (MPC) will be announced on Friday.
Gainers & Losers:
Trent (up 2.09%), Jio Financial Services (up 0.86%), Max Healthcare Institute (up 0.80%), Dr. Reddy's Laboratories (up 0.77%) and State Bank of India (up 0.64%) were the major Nifty50 gainers.
Hindalco Industries (down 3.01%), Eternal (down 2.43%), InterGlobe Aviation (down 1.63%), Bharat Electronics (down 1.57%) and Titan Company (down 1.42%) were the major Nifty50 losers.
Stocks in Spotlight:
Keystone Realtors declined 5.57% after the company’s consolidated net profit fell 77.57% to Rs 3.38 crore on a 42.64% fall in revenue from operations to Rs 266.17 crore in Q3 December 2025 over Q3 December 2024.
Timken India fell 3.07% after the company reported a 30.2% year-on-year decline in consolidated net profit to Rs 54.56 crore in Q3 FY26, compared with Rs 78.21 crore in the corresponding quarter last year. Revenue from operations rose 14.1% to Rs 779.67 crore in Q3 FY26 as against Rs 683.35 crore in Q3 FY25.
Tata Power Company declined 2.15% after the company’s consolidated net profit fell 25.1% to Rs 771.98 crore on 9.37% fall in revenue from operations to Rs 13,948.41 crore in Q3 FY26 over Q3 FY25.
Lloyds Engineering Works rose 0.41%. The company’s consolidated net profit jumped 70.86% to Rs 61.03 crore on 2.34% increase in revenue from operations to Rs 272.45 crore in Q3 FY26 over Q3 FY25.
Parag Milk Foods slumped 7.12% after the company reported an 18% drop in consolidated profit to Rs 30 crore despite a 14% rise in revenue to Rs 1,013 crore in Q3 FY26 as compared with Q3 FY25.
Global Markets:
European stocks opened flat to lower on Thursday as investors braced for a fresh round of regional earnings announcements.
Asian markets traded lower as the tech sell-off on Wall Street gained momentum, with cryptocurrencies also falling.
Bitcoin declined more than 3%, hovering just above the $73,000 level, after falling below that mark earlier.
The S&P 500 fell on Wednesday as the sell-off in technology stocks intensified.
The broad market index slid 0.51% and closed at 6,882.72, while the Dow Jones Industrial Average added 260.31 points, or 0.53%, and settled at 49,501.30. The Nasdaq Composite dropped 1.51% to end at 22,904.58.
Meanwhile, ADP on Wednesday released its monthly look at private payroll growth for January, which showed an increase of just 22,000 on the month. That’s below the gain of 45,000 jobs that was forecasted and widely reported in the media.