Nifty trades below 23,650 mark; European mkt opens lower

The domestic equity indices traded with moderate losses in afternoon trade on Thursday, weighed down by weak global cues and cautious investor sentiment amid rising geopolitical tensions and mixed corporate earnings. Investors also remained focused on the ongoing quarterly earnings season, with the Nifty trading below the 23,650 mark.

Realty, healthcare and chemical shares advanced, while FMCG, private bank and IT shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex declined 253.57 points or 0.33% to 75,064.82. The Nifty 50 index fell 25.15 points or 0.10% to 23,635.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.16% and the BSE 250 SmallCap Index jumped 0.69%.

The market breadth was strong. On the BSE, 2,389 shares rose and 1,628 shares fell. A total of 212 shares were unchanged.

In the commodities market, Brent crude for July 2026 settlement advanced 98 cents or 0.93% to $106 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.4250 compared with its close of 96.8600 during the previous trading session.

Gainers & Losers:

Grasim Industries (up 5.52%), InterGlobe Aviation (up 3.97%), Apollo Hospitals Enterprise (up 3.01%), Bajaj Auto (up 2.34%) and HDFC Life Insurance Company (up 1.76%) were the major Nifty50 gainers.

Bajaj Finance (down 1.80%), Kotak Mahindra Bank (down 1.23%), Tata Consumer Products (down 1.13%), Bajaj Finserv (down 1.11%) and Oil & Natural Gas Corporation (down 1.07%) were the major Nifty50 losers.

Stocks in Spotlight:

Honeywell Automation India surged 17.26% after the company reported a 14.15% increase in standalone net profit to Rs 159.7 crore in Q4 FY26, compared with Rs 139.9 crore in Q4 FY25.

Ola Electric Mobility dropped 4.36% after the company reported weak Q4 FY26 performance despite improvement in gross margins, operating efficiency and cash flow. The company posted a consolidated net loss of Rs 500 crore in Q4 FY26 compared with a net loss of Rs 870 crore in Q4 FY25 and Rs 487 crore in Q3 FY26. Revenue from operations declined 56.6% YoY and 43.6% QoQ to Rs 265 crore in the March 2026 quarter.

Power Mech Projects added 0.33%. The company reported a 21.6% increase in consolidated net profit to Rs 142.55 crore in Q4 FY26, compared with Rs 117.24 crore recorded in Q4 FY25.

Metro Brands jumped 4.55% after the company?s consolidated net profit jumped 23.48% to Rs 117.73 crore on a 20.26% increase in revenue from operations to Rs 772.98 crore in Q4 FY26 over Q4 FY25.

Samvardhana Motherson International advanced 2.83% after the company reported a 46.24% year-on-year surge in consolidated net profit to Rs 1,497.14 crore in Q4 FY26, compared with Rs 1,023.70 crore in the corresponding quarter last year. Revenue from operations increased 9.23% YoY to Rs 34,309.31 crore in the quarter ended 31 March 2026.

Lenskart Solutions gained 2.74% after the company reported an 8.49% year-on-year decline in consolidated net profit to Rs 200.29 crore in Q4 FY26, compared with Rs 218.89 crore in the corresponding quarter last year. However, revenue from operations surged 46.62% YoY to Rs 2,515.71 crore in the quarter ended 31 March 2026.

Apollo Hospitals rose 2.81%. The company reported a 35.9% year-on-year jump in consolidated net profit to Rs 529.3 crore, compared with Rs 389.6 crore in the corresponding quarter last year. Revenue from operations rose 18.1% YoY to Rs 6,605.5 crore against Rs 5,592.2 crore in the year-ago period.

Global Markets:

European markets opened lower on Thursday, while most Asian markets traded in negative territory as investors assessed the latest geopolitical developments, uncertainty over global trade conditions and softer oil prices.

Asian markets also witnessed profit booking after overnight gains on Wall Street, where sentiment was supported by hopes of a possible resolution to the Middle East conflict and easing concerns over energy supply disruptions.

U.S. President Donald Trump said that Washington was in the ?final stages? of negotiations with Iran, according to media reports, helping lift investor optimism.

Japan?s Nikkei 225 jumped over 3% after the release of the country?s latest trade data. Exports rose at the fastest pace since January, rising 14.8% in April, driven by surge in semiconductor shipments. Imports grew 9.7% year-on-year, higher than an expected 8.3% rise, according to government data. The country?s trade balance narrowed to 301.9 billion yen in April, from 643 billion yen in March.

Overnight in the U.S., The Dow Jones Industrial Average advanced 645.47 points, or 1.31%, closing at 50,009.35. The S&P 500 rose 1.08% to 7,432.97, while the Nasdaq Composite added 1.54% and ended at 26,270.36.

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