Nifty hovers below 24,350 mark; metal shares decline for 2nd day

The key equity benchmarks traded with minor losses in morning trade as investors assessed a slew of Q1 FY27 earnings announcements amid the ongoing results season. Sector- and stock-specific movements remained in focus, while investors also tracked the progress of the monsoon, an important factor for the broader economic outlook.

The Nifty hovered below the 24,350 mark, while sentiment remained subdued amid a lack of strong directional cues. Investors continued to monitor movements in crude oil and gold prices, along with developments on the global geopolitical front, for further indications on the market's near-term trajectory.

Metal shares witnessed selling pressure for two consecutive trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 274.50 points or 0.35% to 77,806.51. The Nifty 50 index fell 59.70 points or 0.24% to 24,336.15.

In the broader market, the BSE 150 MidCap Index shed 0.16% and the BSE 250 SmallCap Index fell 0.02%.

The market breadth was negative. On the BSE, 1,767 shares rose and 1,993 shares fell. A total of 248 shares were unchanged.

Q1 FY27 Results to Watch:

Ashok Leyland(up 0.65%), NMDC(down 1.53%), Alkem Laboratories(down 0.38%), Tube Investments of India(down 0.18%), Bharat Dynamics(down 0.65%), Voltas(up 1.65%), 3M India(up 0.31%), Patanjali Foods(down 1.51%), Schneider Electric Infrastructure(up 0.16%), Rubicon Research(down 0.43%), Natco Pharma(down 0.67%), Anupam Rasayan India(up 0.70%), NMDC Steel(up 0.20%), Jupiter Wagons(down 1.26%), Shreeji Shipping Global (up 0.49%) will declare their Q1 result later today.

New Listing:

Shares of Technocraft Ventures were currently trading at Rs 307.75 at 10:03 IST on the BSE, representing a premium of 45.17% as compared with the issue price of Rs 212.

The stock debuted at Rs 285 on the BSE, a premium of 34.43% over its issue price.

So far, the stock has hit a high of Rs 308.55 and a low of Rs 285. On the BSE, over 11.79 lakh shares of the company were traded in the counter so far.

Shares of Leap India were currently trading at Rs 156.90 at 10:03 IST on the BSE, representing a discount of 1.32% as compared with the issue price of Rs 159.

The stock debuted at Rs 166 on the BSE, a premium of 4.40% over its issue price.

So far, the stock has hit a high of Rs 166.80 and a low of Rs 154.10. On the BSE, over 40.13 lakh shares of the company were traded in the counter so far.

Monsoon Session of Parliament Ends:

The Monsoon Session of Parliament concluded on 13 August 2026 after 19 sittings spread over 25 days, with both Houses passing 12 Bills. Key legislation included Bills on public examinations, MSMEs, taxation, tribunals, banking records, mining and the renaming of Kerala as Keralam. The Foreign Contribution (Regulation) Amendment Bill was referred to a Joint Committee for further scrutiny. The session was marked by repeated disruptions, with Lok Sabha recording approximately 19% productivity and Rajya Sabha around 39%.

Buzzing Index:

The Nifty Metal Index declined 1.05% to 12,896.80. The index declined 2.09% in the two consecutive trading sessions.

National Aluminium Company (down 4.57%), Hindustan Zinc (down 2.83%), Hindustan Copper (down 2.7%), Tata Steel (down 1.67%) and Hindalco Industries (down 1.5%), NMDC (down 1.27%), JSW Steel (down 0.98%), Vedanta (down 0.72%), Steel Authority of India (down 0.69%) and Jindal Steel (down 0.58%) declined.

Stocks in Spotlight:

JSW Cement reported consolidated net profit of Rs 160.64 crore in Q1 FY27 compared with net loss of Rs 1,356.17 crore in Q1 FY26. Revenue from operations jumped 21.58% YoY to Rs 1,896.41 crore in Q1 FY27.

LG Electronics India?s standalone net profit jumped 27.2% to Rs 652.86 crore in Q1 FY27, compared with Rs 513.25 crore in Q1 FY26. Revenue from operations rose 15.49% YoY to Rs 7233.35 crore in Q1 FY27.

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