Nifty below 24,600 level; private bank shares decline

The key equity benchmarks traded with modest cuts in early trade. The Nifty traded below the 24,600 level. Private bank shares extended losses for the fourth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 404.70 points or 0.51% to 78,550.06. The Nifty 50 index fell 61.95 points or 0.25% to 24,574.05.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.03% and the BSE 250 SmallCap Index lost 0.02%.

The market breadth was positive. On the BSE, 1,879 shares rose and 1,801 shares fell. A total of 244 shares were unchanged.

Buzzing Index:

The Nifty Private Bank index shed 0.33% to 27,589.25. The index declined 1.72% in the four consecutive trading sessions.

RBL Bank (down 0.94%), IDFC First Bank (down 0.84%), Axis Bank (down 0.76%), IndusInd Bank (down 0.6%), Federal Bank (down 0.48%), Kotak Mahindra Bank (down 0.44%), ICICI Bank (down 0.32%) fell.

Stocks in Spotlight:

Le Travenues Technology declined 7.68%. The company reported 81% jump in net profit to Rs 34.24 crore on a 13% rise in revenue from operations to Rs 356.75 crore in Q1 FY27 as compared with Q1 FY26.

Hero MotoCorp added 1.78% after the company reported 29% increase in standalone net profit to Rs 1,454 crore on a 36% jump in revenue from operations to Rs 12,999 crore in Q1 FY27 as compared with Q1 FY26.

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