At 10:30 ST, the barometer index, the S&P BSE Sensex tumbled 894.98 points or 1.06% to 83,371.99. The Nifty 50 index slipped 272.50 points or 1.06% to 25,524.40

In the broader market, the S&P BSE Mid-Cap index shed 0.91% and the S&P BSE Small-Cap index declined 0.98%.

The market breadth was weak. On the BSE, 1,201 shares rose and 2,478 shares fell. A total of 140 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.09% to 12.84.

New Listing:

Shares of KRN Heat Exchanger and Refrigeration were currently trading at Rs 472.30 at 10:25 IST on the BSE, representing a premium of 114.68% as compared with the issue price of Rs 220.

The scrip was listed at Rs 470, exhibiting a premium of 113.64% to the issue price.

So far, the stock has hit a high of 497 and a low of 450. On the BSE, over 15.11 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Realty index declined 2.39% to 1,070.60. The index tumbled 5.36% in four consecutive trading sessions.

Phoenix Mills (down 4.72%), Brigade Enterprises (down 3.45%), Macrotech Developers (down 3.36%), Godrej Properties (down 1.62%), Sobha (down 1.39%), Oberoi Realty (down 1.32%), DLF (down 1.23%), Raymond (down 1.17%), Mahindra Lifespace Developers (down 0.8%) and Prestige Estates Projects (down 0.61%) declined.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) fell 1.06%. The company said that it has handled a total cargo volume of 37.5 million metric tonnes (MMT) in September 2024, which is higher by 14% on YoY basis.

NMDC shed 0.99%. The state-owned miner's iron ore production increased by 1.33% to 3.04 million tonnes (MT) in September 2024 as against 3 MT produced in September 2023.

Maruti Suzuki India slipped 2.15%. The company has recorded total sales increased 1.87% to 1,84,727 units in September 2024 as against 1,81,343 units sold in September 2023.