At 14:28 IST, the barometer index, the S&P BSE Sensex, declined 459.91 points or 0.54% to 84,980.50. The Nifty 50 index dropped 117.15 points or 0.45% to 26,133.15.

In the broader market, the S&P BSE Mid-Cap index fell 0.57% and the S&P BSE Small-Cap index shed 0.59%.

The market breadth was weak. On the BSE, 1,497 shares rose and 2,595 shares fell. A total of 185 shares were unchanged.

Buzzing Index:

The Nifty Realty index declined 0.44% to 913.40. The index added 5.01% in the previous four consecutive trading session.

Sobha (down 1.66%), Brigade Enterprises (down 1.01%), Lodha Developers (down 0.94%), Oberoi Realty (down 0.89%) and SignatureGlobal India (down 0.64%), DLF (down 0.56%), Anant Raj (down 0.43%), Godrej Properties (down 0.03%), Prestige Estates Projects (down 0.01%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.02% to 6.634 compared with previous session close of 6.633.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.2050 compared with its close of 90.3000 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement added 0.33% to Rs 138,576.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 98.28.

The United States 10-year bond yield added 0.29% to 4.180.

In the commodities market, Brent crude for March 2025 settlement shed 38 cents or 0.62% to $61.38 a barrel.

Stocks in Spotlight:

Ddev Plastiks Industries shed 0.53%. The company announced that its board has approved the proposal to venture into the Battery Energy Storage System (BESS) business, marking its expansion into the renewable energy sector.

Desco Infratech fell 1.74%. The company said it has secured orders worth Rs 5.37 crore from Adani Total Gas (ATGL), Bharat Petroleum Corporation (BPCL), and Maharashtra Natural Gas (MNGL).