Nifty trades below 25,100 level; European mrkt decline
At 12:30 ST, the barometer index, the S&P BSE Sensex, dropped 445.46 points or 0.54% to 81,881.59. The Nifty 50 index declined 132.65 points or 0.53% to 25,094.70.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.82% and the S&P BSE Small-Cap index tanked 1.03%.
The market breadth was weak. On the BSE, 1,195 shares rose and 2,868 shares fell. A total of 153 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.20% to 11.58.
Gainers & Losers:
Tata Motors (up 1.90%), Tech Mahindra (up 1.21%), Wipro (up 1.11%), Apollo Hospitals Enterprise (up 0.74%) and Max Healthcare Institute (up 0.67%) were the major Nifty50 gainers.
Tata Steel (down 2.09%), Bajaj Finance (down 2%), Hindalco Industries (down 1.95%), Axis Bank (down 1.69%) and JSW Steel (down 1.80%) were the major Nifty50 losers.
Stocks in Spotlight:
Lotus Chocolate Company slumped 12.30% after the companys standalone net profit tumbled 72.46% to Rs 1.44 crore in Q2 FY26 as against Rs 5.23 crore posted in Q2 FY25. However, revenue from operations rose 25.05% to Rs 160.43 crore in the second quarter of FY26 from Rs 128.29 crore recorded in Q2 FY25.
Den Networks slipped 4.34% after the cable TV distributor consolidated net profit fell 32.44% to Rs 35.16 crore in Q2 FY26 as against Rs 52.05 crore posted in Q2 FY25. However, revenue from operations declined 3.07% year on year to Rs 241.43 crore posted in Q2 FY26.
Indian Renewable Energy Development Agency (IREDA) added 3.40% after its consolidated net profit rallied 41.67% to Rs 549.33 crore on 26.24% increase in total revenue from operations to Rs 2,057.28 crore in Q2 FY26 over Q2 FY25.
Landmark Cars jumped 9.24% after the companys total revenue from operations (including agency sales) jumped 30.52% to Rs 1,655 crore in Q2 FY26, compared with Rs 1,268 crore in Q2 FY25.
Global Markets:
European market opened lower on Tuesday, reversing largely positive sentiment at the start of the week, despite the threat of a new trade dispute between the U.S. and China.
Asian shares traded mixed after U.S. President Donald Trump struck a softer tone toward China, helping to ease some of the trade-related tensions that rattled investors last week.
In China, shares of chipmaker Wingtech Technology plunged 10% at the open, hitting the daily limit for a second consecutive session, after the Dutch government took control of its Netherlands-based subsidiary Nexperia.
The Netherlands Minister of Economic Affairs announced on October 12 that the movemade under the Goods Availability Act in Septemberwas aimed at preventing a situation in which the goods produced by Nexperia would become unavailable in an emergency.
Nexperia plays a crucial role in Europes semiconductor supply chain, producing high-volume chips used in automobiles, consumer electronics, and industrial products.
Elsewhere in Asia, Singapores economy expanded 2.9% in the third quarter, according to preliminary government data released Tuesday, moderating from 4.4% growth in the previous quarter.
Overnight in the U.S., major indices rebounded sharply after Trumps conciliatory comments. Dont worry about China; it will all be fine! he posted on Truth Social Monday, following weeks of tit-for-tat trade restrictions.
China has recently imposed fees on U.S. ships docking at its portsa retaliatory move mirroring Washingtons new charges on Chinese vesselswith both sets of fees taking effect Tuesday.
The Dow Jones Industrial Average climbed 587.98 points, or 1.29%, to 46,067.58, recovering roughly two-thirds of its losses from Friday. The S&P 500 gained 1.56% to 6,654.72, while the Nasdaq Composite surged 2.21% to 22,694.61, buoyed by a strong rebound in technology shares.
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