Nifty trades below 24,000 level; realty shares tumble

Headline equity benchmarks traded with sharp losses in morning trade, with the Nifty slipping below the 24,000 mark. Sentiment was hit as the rupee weakened to a record low of 95.40 against the US dollar, while weekly expiry added to market volatility. Escalating Iran-US tensions further dampened investor confidence, erasing recent optimism after state election results. Realty stocks also declined after gains in the previous session.

At 10:30 IST, the barometer index, the S&P BSE Sensex fell 506.27 points or 0.66% to 76,763.13. The Nifty 50 index slipped 157.40 points or 0.64% to 23,961.15.

In the broader market, the BSE 150 MidCap Index shed 0.21% and the BSE 250 SmallCap Index declined 0.19%.

The market breadth was negative. On the BSE, 1,644 shares rose and 2,016 shares fell. A total of 220 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.91% to 18.65.

Earnings Today:

Larsen & Toubro (down 1.16%), Mahindra and Mahindra (down 0.80%), Punjab National Bank (down 0.05%), Marico (down 0.89%), Hero Motocorp (down 0.80%), Lloyds Metals and Energy (up 1.32%), SRF (down 0.74%), Coforge (up 1.30%), United Breweries (down 0.58%), Poonawalla Fincorp (down 0.02%), Ajanta Pharma (down 0.86%), Emcure Pharmaceuticals (down 0.57%), Aadhar Housing Finance (up 0.51%), Gallantt Ispat (up 0.45%), Jammu and Kashmir Bank (down 0.01%), Voltamp Transformers (down 4.45%), AAVAS Financiers (up 0.37%), Lloyds Engineering Works (up 0.43%), Alkyl Amines Chemicals (down 1.45%), SJS Enterprises (down 1.10%), Shilchar Technologies (up 0.62%), GNG Electronics (down 0.92%), Aeroflex Industries (up 1.50%), Shanthi Gears (up 0.08%), Shoppers Stop (down 1.60%), Dalmia Bharat Sugar and Industries (up 0.82%), Cigniti Technologies (up 1.10%), Raymond Realty (down 2.22%), Raymond (down 1.61%), Shipping Corporation of India Land and Assets (up 0.52%), PTC India Financial Services (down 0.74%), Spandana Sphoorty Financial (up 4.71%), CFF Fluid Control (up 3.30%), DCW (up 2.94%), Automobile Corporation of Goa (ACGL) (up 4.35%), Paushak (up 0.93%), Mafatlal Industries (up 0.96%), B Right Realestate (down 3.43%), Kothari Petrochem (down 0.17%), Foseco Crucible (India) (up 0.89%), Sutlej Textiles and Industries (up 0.36%), Primo Chemicals (down 0.86%), Onward Technologies (down 1.13%), Kriti Nutrients (down 2.81%), Jenburkt Pharma (up 1.84%), Kriti Industries (India) (down 3.02%), Kisan Mouldings (down 1.55%), Ginni Filaments (down 2.17%), Trident Lifeline (down 1.27%), Shankara Building Products (down 1.99%), Regency Fincorp (down 0.73%), Sayaji Industries (down 3.15%), Kartik Investments Trust (down 5%) will declare their results later today.

Buzzing Index:

The Nifty Realty index dropped 1.45% to 800.90. The index surged 2.41% in the past trading session.

Godrej Properties (down 3.54%), Oberoi Realty (down 1.42%), Lodha Developers (down 1.29%), Brigade Enterprises (down 1.28%) and Aditya Birla Real Estate (down 1.14%) were the top losers. Among the other losers were DLF (down 0.96%), Prestige Estates Projects (down 0.82%) and Phoenix Mills (down 0.49%), declined.

On the other hand, Sobha (up 2.89%) and Anant Raj (up 0.97%) edged higher.

Stocks in Spotlight:

Wockhardt surged 9.07% after the company reported a sharp turnaround in quarterly earnings, aided by strong growth in key geographies. On a consolidated basis, the company reported a net profit of Rs 164 crore in Q4 FY26, reversing a loss of Rs 45 crore in the year-ago period. PAT surged 168.85% QoQ from Rs 61 crore in Q3 FY26. Revenue from operations rose 29.87% YoY to Rs 965 crore in Q4 FY26, while increasing 8.67% QoQ from Rs 888 crore.

Quess Corp surged 7.83% after the company reported a consolidated net profit of Rs 64.35 crore in Q4 FY26 compared with a net loss of Rs 95.45 crore in Q4 FY25. Revenue from operations increased 6.46% YoY to Rs 3,892.45 crore in Q4 FY26.

Desco Infratech hit an upper circuit of 5% after its consolidated net profit rallied 75.34% to Rs 10.17 crore in Q4 FY26 as compared with Rs 5.80 crore in Q4 FY25. Revenue from operations surged 108.01% to Rs 76.57 crore in Q4 FY26 versus Rs 36.81 crore in Q4 FY25.

Tata Technologies soared 8.91% after the company?s consolidated net profit surged over thirty times to Rs 204.17 crore in Q4 FY26, compared with Rs 6.64 crore in Q3 FY26. Revenue from operations jumped 15.12% QoQ to Rs 1,572.22 crore in Q4 FY26. On a year-on-year (YoY) basis, the company?s consolidated net profit increased 8.1% while revenue from operations jumped 22.29% in Q4 FY26.

Afcons Infrastructure shed 0.70%. The company announced that it has secured orders worth Rs 373 crore for civil infrastructure works under its Urban Infrastructure and Metro business unit.

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