At 14:30 IST, the barometer index, the S&P BSE Sensex, dropped 336.28 points or 0.40% to 84,330. The Nifty 50 index shed 80.65 points or 0.31% to 25,754.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.98% and the S&P BSE Small-Cap index shed 0.50%.

The market breadth was negative. On the BSE, 1,877 shares rose and 2,211 shares fell. A total of 164 shares were unchanged.

Buzzing Index:

The Nifty Auto index rose 0.40% to 27,508.20. The index jumped 1.54% in the three consecutive trading sessions.

Eicher Motors (up 1.78%), Tube Investments of India (up 0.41%), Uno Minda (up 0.28%), Mahindra & Mahindra (up 0.23%), TVS Motor Company (up 0.19%), Bajaj Auto (up 0.07%) and Maruti Suzuki India (up 0.01%) rose.

Numbers to Track:

The yield on India's 10-year benchmark federal paper jumped 0.08% to 6.623 compared with previous session close of 6.618.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9550 compared with its close of 89.8750 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement shed 0.12% to Rs 129,945.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.18% to 99.06.

The United States 10-year bond yield rose 0.38% to 4.205.

In the commodities market, Brent crude for February 2025 settlement shed 01 cents or 0.02% to $61.93 a barrel.

Stocks in Spotlight:

AU Small Finance Bank (SFB) added 2.28% after the bank received an approval from the Department of Financial Services, Ministry of Finance, to raise its foreign investment limit from 49% to 74%.

Zydus Lifesciences rose 0.76%. The company announced the launch of Zyrifa, a biosimilar of Denosumab 120 mg, aimed at improving access to advanced bone-health treatments.