At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 339.86 points or 0.42% to 80,204.13. The Nifty 50 index declined 137.90 points or 0.56% to 24,436.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.45% and the S&P BSE Small-Cap index shed 0.46%.

The market breadth was weak. On the BSE, 1,346 shares rose and 2,031 shares fell. A total of 134 shares were unchanged.

Earnings Today:

Kalyan Jewellers India (down 1.01%), Life Insurance Corporation of India (down 0.78%), Biocon (down 0.04%), Apollo Tyres (down 0.85%), Bajaj Electricals (down 1.84%), Biocon (down 0.17%), Birlasoft (down 0.73%), Century Plyboards (India) (up 2.37%), Crompton Greaves Consumer Electricals (up 0.77%), Cummins India (down 0.28%), Data Patterns (India) (down 0.22%), DCX Systems (up 1.33%), Edelweiss Financial Services (down 1.23%), Emcure Pharmaceuticals (up 0.23%), General Insurance Corporation of India (down 0.46%), GMM Pfaudler (down 1.19%), Godrej Consumer Products (down 0.48%), Greenlam Industries (down 0.58%), Gujarat State Fertilisers & Chemicals (down 2.43%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Metal index shed 0.87% to 9,218. The index dropped 1.26% in two consecutive trading sessions.

Jindal Stainless (down 3.56%), Adani Enterprises (down 1.71%), Steel Authority of India (down 1.52%), Vedanta (down 1.37%), NMDC (down 1.24%), APL Apollo Tubes (down 1.22%), Hindustan Copper (down 1.16%), Welspun Corp (down 1.04%), Tata Steel (down 1%), and Lloyds Metals & Energy (down 0.95%) declined.

On the other hand, Jindal Steel & Power (up 0.49%) edged up.

Stocks in Spotlight:

IRCON International declined 2.79% after the company's consolidated net profit dropped 26.75% to Rs 164.10 crore in Q1 FY26, compared to Rs 224.03 crore in Q1 FY25. Revenue from operations declined 21.89% to Rs 1,786.28 crore during the quarter, compared to Rs 2,287.13 crore in the same quarter last year.

VIP Industries rose 0.48%. The firm reported a consolidated net loss of Rs 13.10 crore in Q1 FY26 compared with a net profit of Rs 4.04 crore in Q1 FY25. Revenue from operations declined 12.12% year on year (YoY) to Rs 561.43 crore in the quarter ended 30 June 2025.

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