Nifty trades below 23,800 level; European mrkt advance
At 13:30 ST, the barometer index, the S&P BSE Sensex, declined 312.91 points or 0.41% to 75,549.99. The Nifty 50 index fell 123.30 points or 0.52% to 23,783.85.
In the broader market, the BSE 150 MidCap Index fell 0.72% and the BSE 250 SmallCap Index jumped 0.24%.
The market breadth was negative. On the BSE, 2,331 shares rose and 1,811 shares fell. A total of 215 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 3.70% to 15.54.
IMD Forecast:
The forecast by the India Meteorological Department that India may receive about 90% of the long-period average rainfall this monsoon suggests a slightly below-normal season, but not a severe shortfall. This level of rainfall is likely to have a moderate impact on the economy, particularly in agriculture, where rain-fed crop output could be affected in some regions. Any uneven distribution of rainfall may lead to localized stress on farm production, which in turn could push up prices of food items such as vegetables, pulses, and cereals. Rural demand may also see some moderation if farm incomes are impacted. However, since the deviation from normal is not very large, the overall effect on GDP growth is expected to remain limited, with the economy continuing to be supported by stable services and industrial activity.
Gainers & Losers:
Infosys (up 3.24%), Tech Mahindra (up 2.18%), Larsen & Toubro (up 1.60%) and HCL Technologies (up 1.53%) were the major Nifty50 gainers.
Eicher Motors (down 3.11%), InterGlobe Aviation (down 2.65%), Power Grid Corporation of India (down 2.57%) and Oil & Natural Gas Corporation (down 2.28%) were the major Nifty50 losers.
Stocks in Spotlight:
Ashapura Minechem soared 13.93% after the company?s consolidated net profit jumped 31.49% to Rs 110.73 crore on a 104.97% surge in revenue from operations to Rs 1968.63 crore in Q4 FY26 over Q3 FY26.
Banco Products (India) rallied 8.63% after the company?s consolidated net profit jumped 71.77% to Rs 147.43 crore in Q4 FY26, compared with Rs 85.83 crore in Q3 FY26. Revenue from operations jumped 39.56% QoQ to Rs 1,091.10 crore in Q4 FY26.
Kesoram Industries dropped 4.95% after the company reported a 99.46% decline in consolidated net profit to Rs 31.07 crore in the quarter ended 31 March 2026, compared with Rs 5,765.62 crore recorded in Q4 FY25. Revenue from operations slipped 1% year-on-year to Rs 66.62 crore in Q4 FY26.
Amines & Plasticizers rose 0.87%. The company reported 19.8% increase in consolidated net profit to Rs 15.35 crore despite a 6.4% fall in revenue to Rs 155.14 crore in Q4 FY26 as compared with Q4 FY25.
Lemon Tree Hotels fell 4.22%. The company reported an 8.09% rise in consolidated net profit to Rs 91.49 crore in Q4 FY26, compared with Rs 84.64 crore posted in the corresponding quarter last year. Revenue from operations increased 10% year-on-year to Rs 416.40 crore during the quarter ended 31 March 2026.
Global Markets:
European stocks edged higher on Friday as investors assess prospects for a potential extension of the ongoing fragile ceasefire between the U.S. and Iran.
Asia markets traded higher as investors weighed fresh military activity involving Iran against signs that Washington and Tehran were moving closer to a temporary agreement to halt their three-month conflict.
Iran?s armed forces reportedly fired missiles at unspecified targets late Thursday, according to media reports.
The latest military activity in southern Iran came just hours after the Pentagon said Tehran had fired a ballistic missile toward Kuwait and deployed attack drones in and around the Strait of Hormuz.
Earlier on Thursday, a White House official confirmed a media report saying the U.S. and Iran had mostly agreed on the terms of a deal aimed at temporarily halting the three-month conflict.
Overnight on Wall Street, the S&P 500 and Nasdaq Composite closed at records on Thursday as tech resumed its leadership, and traders weighed a reported agreement between U.S. and Iranian negotiators to extend the ceasefire.
The broader index gained 0.58% to 7,563.63, while the Nasdaq Composite rose 0.91% to 26,917.47. Both indexes also hit intraday all-time highs. The Dow Jones Industrial Average was higher by 0.05% at 50,668.97.
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