Nifty hovers below 24,500 level; private bank shares decline

The key equity benchmarks continued to trade with modest losses in morning trade tracking weak global cues as uncertainty over the prospects of a US-Iran deal weighed on investor sentiment. Persistent geopolitical concerns and the lack of clarity over diplomatic developments kept investors cautious, limiting risk appetite in the domestic market.

Market participants are assessing a slew of Q1 FY27 earnings announcements, with sector- and stock-specific movements remaining in focus amid the ongoing earnings season while keeping a close watch the progress of the monsoon. The Nifty hovered below the 24,500 level.

Investors are awaiting the domestic inflation data scheduled for release on Wednesday, along with movements in crude oil prices and developments on the global geopolitical front for further cues on market direction.

Private bank shares declined after witnessing gains in the previous trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 384.74 points or 0.49% to 78,158.41. The Nifty 50 index dropped 113.65 points or 0.46% to 24,471.40.

In the broader market, the BSE 150 MidCap Index declined 0.18% and the BSE 250 SmallCap Index added 0.13%.

The market breadth was negative. On the BSE, 1,844 shares rose and 1,898 shares fell. A total of 239 shares were unchanged.

Earnings Today:

Siemens (down 0.27%), Zydus Lifesciences(up 0.15%), Bata India(down 1.77%), Caliber Mining and Logistics(down 1.63%), Delta Corp(up 0.50%), Enviro Infra Engineers(down 0.03%), EPL(up 1.29%), Kalpataru Projects International(up 0.07%), Manappuram Finance(down 0.15%), MRF(down 0.93%), NBCC (India)(down 0.85%), PI Industries(up 0.45%), Rail Vikas Nigam (down 0.23%) will declare their Q1 FY27 results later today.

Buzzing Index:

The Nifty Private Bank index shed 0.85% to 27,300.10. The index jumped 0.52% in the past trading session.

IndusInd Bank (down 1.37%), RBL Bank (down 1.36%), Federal Bank (down 1.3%), Axis Bank (down 1.29%) and IDFC First Bank (down 0.94%), Kotak Mahindra Bank (down 0.84%), ICICI Bank (down 0.61%), HDFC Bank (down 0.45%), Yes Bank (down 0.44%) and Bandhan Bank (down 0.36%).

Stocks in Spotlight:

KEC International declined 2.52% after the company reported 42% fall in consolidated net profit to Rs 73 crore in Q1 FY27 from Rs 125 crore in Q1 FY26. Revenue for the period under review remained flat at Rs 5,024 crore.

Ind-Swift Laboratories surged 16.79% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net profit jumped 183.5% YoY and 28.9% QoQ to Rs 24.86 crore in Q1 FY27. Net sales rose 25.3% YoY and 12.8% QoQ to Rs 191.45 crore during the quarter.

Powered by Capital Market - Live News