The key equity barometers traded with modest cuts in mid-afternoon trade, as sentiment remained cautious with investors tracking global cues and awaiting further clarity on domestic triggers, keeping market moves range-bound. The Nifty traded below the 25,100 level. Media shares declined after advancing in the past trading session.
At 14:30 IST, the barometer index, the S&P BSE Sensex, dropped 706.09 points or 0.86% to 81,601.28. The Nifty 50 index fell 218.10 points or 0.86% to 25,073.15.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.33% and the S&P BSE Small-Cap index fell 1.89%.
The market breadth was weak. On the BSE, 1,254 shares rose and 2,871 shares fell. A total of 145 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 6.29% to 14.19.
The rupee hit a fresh record low of 91.99 against the US dollar in intraday trade on Friday, pressured by weak global cues and persistent dollar demand.
Buzzing Index:
The Nifty Media index fell 2.38% to 1,353.35. The index rose 2.39% in the past trading session.
Zee Entertainment Enterprises (down 4.58%), Hathway Cable & Datacom (down 4.51%), Prime Focus (down 4.29%), Network 18 Media & Investments (down 4.09%), Tips Music (down 3.39%), Nazara Technologies (down 2.53%), PVR Inox (down 2.36%), D B Corp (down 0.08%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.39% to 6.662 as compared with the previous close of 6.636.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.9400 compared with its close of 91.5800 during the previous trading session.
MCX Gold futures for 5 February 2025 settlement shed 0.16% to Rs 1,56,092.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 98.35.
The United States 10-year bond yield shed 0.26% to 4.240.
In the commodities market, Brent crude for March 2025 settlement added 62 cents or 0.97% to $64.68 a barrel.
Stocks in Spotlight:
Gujarat State Petronet (GSPL) fell 1.27% after its standalone net profit fell 15.70% to Rs 114.26 crore in Q3 FY26, even as revenue from operations rose 4.5% to Rs 272.19 crore compared with the same quarter last year.
Ideaforge Technology slipped 4.98% after the company reported a consolidated net loss of Rs 33.85 crore in Q3 FY26, widening from Rs 24.02 crore in Q3 FY25. Despite the wider loss, the company’s revenue from operations increased 79.15% year on year (YoY) to Rs 31.55 crore during the quarter.