Nifty trades below 25,700; metal shares slump
The Nifty traded below the 25,700 mark. Metal shares corrected after advancing in the past three consecutive trading session.
At 10:28 IST, the barometer index, the S&P BSE Sensex, slipped 278.32 points or 0.33% to 83,539.46. The Nifty 50 index fell 88.45 points or 0.34% to 25,687.75.
In the broader market, the S&P BSE 150 MidCap Index fell 0.65% and the S&P BSE 250 SmallCap Index tanked 0.81%.
The market breadth was negative. On the BSE, 1,540 shares rose and 2,061 shares fell. A total of 206 shares were unchanged.
RBI MPC:
The Reserve Bank's rate-setting panel has started its three-day meeting for the next bi-monthly monetary policy on Wednesday. The decision of RBI Governor Sanjay Malhotra-headed six-member Monetary Policy Committee (MPC) will be announced on Friday.
Earnings to Watch:
Tata Motors Passenger Vehicles, Bharti Airtel, Bharti Hexacom, Hero MotoCorp, Hindustan Copper, Aditya Birla Fashion and Retail, Allcargo Logistics, Alembic Pharmaceuticals, PVR Inox, Berger Paints India, Godrej Properties, FSN E-Commerce, Page Industries, Power Finance Corporation, Borosil, Caplin Point Laboratories, Cemindia Projects, Dalmia Bharat Sugar and Industries, Data Patterns (India), Dhanuka Agritech, Dredging Corporation of India, Eveready Industries India, FDC, Gokul Agro Resources, Goodyear India, Harsha Engineers International, HealthCare Global Enterprises, Rail Vikas Nigam will declare their results later today.
Buzzing Index:
The Nifty Metal index tanked 2.33% to 11,763.30. The index rallied 6.12% in the past three consecutive trading sessions.
Hindustan Zinc (down 5.37%), Vedanta (down 5.07%), National Aluminium Company (down 3.99%), Hindalco Industries (down 3.21%), NMDC (down 2.59%), Hindustan Copper (down 2.58%), Lloyds Metals & Energy (down 1.62%), Steel Authority of India (down 1.57%), Tata Steel (down 1.16%) and Jindal Steel (down 0.68%) declined.
Stocks in Spotlight:
Trent rose 0.63%. The company reported a 36.3% jump in standalone net profit to Rs 639.71 crore on 15.98% increase in revenue from operations to Rs 5259.46 crore in Q3 FY26 over Q3 FY25.
Lloyds Engineering Works added 0.73%. The companys consolidated net profit jumped 70.86% to Rs 61.03 crore on 2.34% increase in revenue from operations to Rs 272.45 crore in Q3 FY26 over Q3 FY25.
Parag Milk Foods slumped 6.58% after the company reported 18% drop in consolidated to Rs 30 crore despite a 14% rise in revenue to Rs 1,013 crore in Q3 FY26 as compared with Q3 FY25.
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