Market pares some losses; media shares snap 5-day losing streak

The key equity indices recovered from their early lows in morning trade on Tuesday, with value buying at lower levels helping trim some losses. The expiry of derivatives contracts on the NSE also kept market activity in focus, while investors remained cautious amid the ongoing Q2 earnings season. The Nifty reclaimed the 22,700 mark, although the recovery remained modest, indicating a lack of strong directional conviction among market participants.

Media shares climbed after declining in the past five trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 225.27 points or 0.30% to 73,383.18. The Nifty 50 index fell 37.30 points or 0.14% to 22,718.30.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 0.66% and the BSE 250 SmallCap Index rose 1.23%.

The market breadth was strong. On the BSE, 2,678 shares rose and 1,016 shares fell. A total of 239 shares were unchanged.

Earnings Today:

Larsen & Toubro (up 0.98%), Maruti Suzuki India(up 1.61%), SBI Life Insurance Company(up 0.21%), Bajaj Auto(up 1.71%), Cipla (up 1.11%), ACC (down 1.33%), Concord Biotech(up 1.05%), Indus Towers, (down 0.85%), JSW Cement(up 0.51%), JSW Infrastructure(up 0.61%), Jubilant Ingrevia (up 2.76%), Mazagon Dock Shipbuilders, (up 1.67%), Radico Khaitan(up 1.49%), Raymond (up 2.99%), Tata Capital (up 0.25%) and United Breweries (down 0.15%) will declare their results later today.

Buzzing Index:

The Nifty Media index jumped 3.60% to 1,614.20. The index declined 5.47% in the past five trading sessions.

Sun TV Network (up 6.21%), Network 18 Media & Investments (up 4.92%), Prime Focus (up 4.12%), PVR Inox (up 3.88%), D B Corp (up 2.49%), Tips Music (up 2.16%), Saregama India (up 1.32%), MPS (up 1.14%), Nazara Technologies (up 1.09%) and Zee Entertainment Enterprises (up 1.03%) surged.

Stocks in Spotlight:

Avantel advanced 2.65% after the company reported a 59.56% year-on-year (YoY) increase in consolidated net profit to Rs 6.81 crore in Q2 FY27, compared with Rs 4.27 crore in Q2 FY26. Revenue from operations rose 34.29% YoY to Rs 74.42 crore in Q2 FY27 from Rs 55.42 crore in Q2 FY26.

Bank of Maharashtra rose 0.72% after the company reported a 41.42% year-on-year (YoY) jump in standalone net profit to Rs 2,309.59 crore for the quarter ended 30 September 2026 (Q2 FY27), compared with Rs 1,633.14 crore in Q2 FY26. Total income climbed 22.10% YoY to Rs 9,735.41 crore in Q2 FY27 from Rs 7,973.61 crore in Q2 FY26.

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