Nifty trades below 24,550; oil & gas shares decline

The domestic equity benchmarks traded with modest cuts in the mid-afternoon trade. The Nifty traded below the 24,550 mark. Oil & gas shares declined after advancing in the previous trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex slipped 524.42 points or 0.66% to 78,430.34. The Nifty 50 index lost 92.30 points or 0.37% to 24,543.70.

In the broader market, the BSE 150 MidCap Index was flat, while the BSE 250 SmallCap Index declined 0.04%.

The market breadth was negative. On the BSE, 1,984 shares rose and 2,178 shares fell. A total of 215 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index fell 0.49% to 11,249.15. The index jumped 0.79% in the past trading session.

Aegis Logistics (down 2.92%), GAIL (India) (down 2.41%), Aegis Vopak Terminals (down 2.04%), Bharat Petroleum Corporation (down 1.99%), Chennai Petroleum Corporation (down 1.6%), Oil India (down 1.24%), Castrol India (down 1.09%), Indraprastha Gas (down 0.78%), Hindustan Petroleum Corporation (down 0.73%) and Indian Oil Corporation (down 0.46%) fell.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.21% to 6.782 compared with the previous session close of 6.768.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.2700 compared with its close of 95.2250 during the previous trading session.

MCX Gold futures for the 5 October 2026 settlement rose 1.21% to Rs 1,50,654.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 99.93.

The United States 10-year bond yield rose 0.04% to 4.672.

In the commodities market, Brent crude for the October 2026 settlement jumped 68 cents or 0.82% to $83.17 a barrel.

Stocks in Spotlight:

GK Energy rallied 5.89% after the company's standalone net profit surged 61.55% year-on-year (YoY) to Rs 59.67 crore in Q1 FY27 from Rs 36.94 crore in the corresponding quarter last year. Revenue from operations jumped 71.10% YoY to Rs 505.19 crore, driven by sustained project execution under renewable energy programmes, rising demand for decentralized solar infrastructure.

Powerica rose 0.96%. The company said that it has received a letter of award (LoA) from Solar Energy Corporation of India (SECI) for supplying power from a 100-MW wind power project in Gujarat.

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