Sensex, Nifty trade lower ahead of CPI data; European mrkt decline

The key equity benchmarks traded with significant losses in afternoon trade amid weighed down by selling pressure in index heavyweight stocks. Investor sentiment remained cautious ahead of the release of domestic inflation data (CPI) later today, which is expected to provide further cues on the interest-rate outlook and broader market direction. Market participants continued to assess a slew of Q1 FY27 earnings announcements, with stock- and sector-specific movements remaining in focus amid the ongoing earnings season.

The Nifty hovered below the 24,300 level, while sentiment remained subdued amid a lack of strong directional cues. Investors continued to monitor movements in crude oil prices and developments on the global geopolitical front for further indications on the market's near-term trajectory.

IT, consumer durables and FMCG stocks remained under pressure, whereas PSU banks and metal counters bucked the broader weakness.

At 13:25 IST, the barometer index, the S&P BSE Sensex declined 589.30 points or 0.75% to 77,564.95. The Nifty 50 index fell 177.35 points or 0.72% to 24,294.35.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.21% and the BSE 250 SmallCap Index fell 0.27%.

The market breadth was negative. On the BSE, 1,687 shares rose and 2,477 shares fell. A total of 222 shares were unchanged.

Gainers & Losers:

Hindalco Industries (up 3.25%), State Bank of India (SBI) (up 1.27%), Grasim Industries (up 1.13%), Nestle India (up 0.54%) and Bajaj Auto (up 0.26%) were the top gainers.

Tata Consultancy Services (TCS) (down 4.94%), Tata Motors Passenger Vehicles (down 3.45%), Max Healthcare (down 3.29%), Apollo Hospitals Enterprise (down 2.49%) and Titan Company (down 2.30%) were the top losers.

Stocks in Spoitlight:

TD Power Systems rose 17.98% after the company reported strong Q1 FY27 performance. On a consolidated basis, profit after tax increased 72.3% YoY and 19.5% QoQ to Rs 86.29 crore in Q1 FY27. Revenue from operations increased 72.1% YoY and 8.6% QoQ to Rs 640.05 crore in Q1 FY27.

Godrej Consumer Products (GCPL) tumbled 10.16% after the company announced that its managing director (MD) and chief executive officer (CEO), Sudhir Sitapati, has resigned from his position with effect from 11 August 2026.

Aluminium stocks traded higher in today?s session, with National Aluminium Company (NALCO) rising 7.57%, Hindalco Industries gaining 3.25% and Vedanta Aluminium advancing 0.08%. The gains came after Norsk Hydro's Alunorte refinery announced a reduction to its Alumina output. As per media reports, Norsk Hydro has cut its Alumina output at its Alunorte refinery to 50% of its capacity, citing gas shortage as the reason for production cut. The said unit had produced 6.3 MT of Alumina in 2025.

DAM Capital Advisors declined 3.75% after the company reported a 34.78% year-on-year decline in consolidated net profit to Rs 0.15 crore in Q1 FY27 from Rs 0.23 crore in Q1 FY26. Total income declined 2.95% YoY to Rs 29.97 crore from Rs 30.88 crore.

ESAB India jumped 4.20% after the company reported strong financial performance for Q1 FY27. On a standalone basis, net profit increased 37.13% YoY and 28.91% QoQ to Rs 56.14 crore in Q1 FY27. Net sales increased 19.63% YoY and 6.41% QoQ to Rs 421.12 crore in Q1 FY27.

Bata India rose 1.49% after the company reported 23% jump in consolidated net profit to Rs 63.98 crore on a 3.9% rise in revenue to Rs 978.95 crore in Q1 FY27 as compared with Q1 FY26.

Global Market:

European market traded lower as investors remained cautious ahead of the release of key U.S. inflation data, which could influence expectations for the Federal Reserve?s monetary policy path. Meanwhile, investors assessed the final July inflation readings, with Germany?s headline consumer price inflation standing at 2.8% year-on-year.

Asian markets traded mixed on Wednesday as investors looked ahead to an important US inflation report that will likely determine the near-term direction for interest rates.

A surprisingly hot inflation report will likely alarm investors who expect it will shape what the Federal Reserve does at its September meeting, as policymakers take a reprieve in August.

The American Central Bank has been laser focused on the impact higher pricing pressures are having on the U.S. consumer, with three dissenters at the last meeting voting to raise rates. And those concerns have yet to abate, with U.S. oil prices pushing above $83 a barrel this week, as hopes of a reopening of the Strait of Hormuz dwindle.

Wednesday?s inflation report won?t be the last hurdle the stock market will have to get past this week. The July producer price index that?s due out Thursday will have to prove the prior month?s softer report can be repeated.

Overnight on Wall Street, the S&P 500 fell on Tuesday, bogged down by key technology stocks, as hopes among investors that the Strait of Hormuz would reopen faltered, exacerbating lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.

The broad market index lost 0.32%, dropping for a second day and closing at 7,728.20. The Nasdaq Composite fell 0.60% to 26,445.45. The Dow Jones Industrial Average shed 184.13 points, or 0.34%, to end at 53,791.85.

The moves come as oil prices rose amid uncertainty over the Middle East conflict, with the secretary of Iran?s Supreme National Security Council reiterating that the strait would not reopen until its conditions have been met, according to media reports.

The U.S. West Texas Intermediate futures closed up 1.3% at $83.20 a barrel. International benchmark Brent crude gained about 1.4% to close at $88.91 a barrel yesterday.

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