Sensex drops 353 pts; media shares decline for 3rd day

The headline equity benchmarks traded with modest losses in the morning trade, pressured by escalating geopolitical tensions and renewed concerns over potential U.S. tariff hikes. Investor sentiment remained cautious as the Q3 earnings season kicked off, with market participants closely tracking corporate performance and outlook amid global uncertainties.

The Nifty traded below the 25,600 level, while media shares extended losses for a third consecutive trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, declined 352.53 points or 0.43% to 83,216.75. The Nifty 50 index added 94.40 points or 0.37% to 25,589.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.71% and the S&P BSE Small-Cap index dropped 1%.

The market breadth was weak. On the BSE, 1,054 shares rose and 2,767 shares fell. A total of 225 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 6.77% to 11.67.

Result Today:

Tata Consultancy Services (down 0.46%), HCL Technologies (down 0.42%), Anand Rathi Wealth (down 0.89%), GTPL Hathway (down 0.41%), Gujarat Hotels (down 2.67%), Lotus Chocolate Company (down 2.30%), Maharashtra Scooters (down 5.24%), OK Play India (up 1.30%) and Tierra Agrotech (down 1.16%) will release their quarterly earnings today.

Buzzing Index:

The Nifty Media index fell 1.59% to 1,402.70. The index dropped 3.76% in the three consecutive trading sessions.

Tips Music (down 1.29%), Sun TV Network (down 1.09%), Hathway Cable & Datacom (down 1.07%), Nazara Technologies (down 0.97%), Saregama India (down 0.42%) and PVR Inox (down 0.40%) declined.

On the other hand, Prime Focus (up 0.56%) and Zee Entertainment Enterprises (up 0.10%) edged higher.

Stocks in Spotlight:

Saatvik Green Energy declined 1.73%. The company?s material subsidiary, Saatvik Solar Industries, secured an order worth Rs 13.8 crore from a renowned independent power producer/EPC player for the supply of solar PV modules.

Signatureglobal (India) dropped 5.59% after the company reported a 27% decline in pre-sales to Rs 20,200 crore in Q3 FY26 compared with 27,700 crore posted in Q3 FY25.

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