At 14:28 IST, the barometer index, the S&P BSE Sensex declined 130.77 points or 0.16% to 79,418.29. The Nifty 50 index lost 58.55 points or 0.24% to 24,140.80.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.05% and the S&P BSE Small-Cap index declined 1.35%.

The market breadth was weak. On the BSE, 1,383 shares rose and 2,535 shares fell. A total of 102 shares were unchanged.

Buzzing Index:

The Nifty Media index slipped 1.89% to 1,964.80. The index fell 2.09% in two consecutive trading sessions.

Den Networks (down 3.31%), Saregama India (down 2.53%), PVR Inox (down 2.39%), Tips Music (down 2.15%), Network 18 Media & Investments (down 1.89%), Dish TV India (down 1.88%), Hathway Cable & Datacom (down 1.73%), Zee Entertainment Enterprises (down 1.69%), Sun TV Network (down 1.25%) and Nazara Technologies (down 0.96%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.12% to 6.900 as compared with previous close 6.908.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.3775, compared with its close of 84.3250 during the previous trading session.

MCX Gold futures for 5 Dec 2024 settlement fell 0.32% to Rs 77,164.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 104.50.

The United States 10-year bond yield lost 0.69% to to 4.317.

In the commodities market, Brent crude for Jan 2025 settlement declined 73 cents or 0.97% to $74.90 a barrel.

Stocks in spotlight:

MRF declined 1.83% after the company’s consolidated net profit declined 19.77% to Rs 470.70 crore despite 10.68% increase in revenue from operations to Rs 6,881.09 crore in Q2 FY25 over Q2 FY24.

NRB Bearings jumped 4.29% after the company's consolidated net profit increased 45.92% to Rs 35.94 crore on 8.07% rise in net sales to Rs 301.51 crore in Q2 FY25 over Q2 FY24.

State Bank of India declined 2.07%. The bank standalone net profit rose 27.92% to Rs 18,331.44 crore on 15.13% increase in total income to Rs 129,141.11 crore in Q2 FY25 over Q2 FY24.