Sensex slides 433 pts; PSU bank decline for 3rd day

The headline equity benchmarks traded with substantial losses in the 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 traded below the 24,300 level, 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.

PSU Bank shares extended losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex dropped 432.66 points or 0.55% to 77,576.59. The Nifty 50 index fell 107.45 points or 0.44% to 24,258.55.

In the broader market, the BSE 150 MidCap Index declined 0.24% and the BSE 250 SmallCap Index fell 0.31%.

The market breadth was negative. On the BSE, 1,754 shares rose and 2,145 shares fell. A total of 310 shares were unchanged.

New Listing:

Shares of Molbio Diagnostics were currently trading at Rs 946.25 at 10:07 IST on the BSE, representing a premium of 17.26% as compared with the issue price of Rs 807.

The stock debuted at Rs 980, marking a premium of 21.44% to the issue price.

So far, the stock has hit a high of Rs 1,002.05 and a low of Rs 925.80. On the BSE, over 6.53 lakh shares of the company were traded in the counter so far.

Shares of Dhoot Transmission were currently trading at Rs 1,149 at 10:07 IST on the BSE, representing a premium of 31.92% as compared with the issue price of Rs 871.

The stock debuted at Rs 1,193.80, marking a premium of 37.06% to the issue price.

So far, the stock has hit a high of Rs 1,212.70 and a low of Rs 1,139.20. On the BSE, over 15.52 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU Bank Index declined 1.36% to 8,619.95. The index fell 2.24% in three consecutive trading sessions.

Indian Bank (down 2.11%), Punjab National Bank (down 1.64%), Bank of Baroda (down 1.24%), State Bank of India (down 1.14%), Canara Bank (down 1.12%), Union Bank of India (down 1.08%), Bank of India (down 0.97%), Punjab & Sind Bank (down 0.76%), Indian Overseas Bank (down 0.6%) and Central Bank of India (down 0.54%) declined.

Stocks in Spotlight:

Aurobindo Pharma shed 0.67%. The company announced that the US Food and Drug Administration (USFDA) has closed its inspection of the Raleigh plant in North Carolina, USA. The facility, owned by Aurolife Pharma LLC, a wholly owned step-down subsidiary of Aurobindo Pharma, manufactures inhalers, dermatology and transdermal products. The USFDA had inspected the facility from 24 March 2025 to 10 April 2025 and issued Form 483 with 11 observations at the conclusion of the inspection.

NIBE slipped 3.04%. The company has secured a supply contract worth Rs 563.35 crore from the Indian Army, Ministry of Defence, Government of India for the manufacture and supply of loiter munition systems.

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