Sensex sinks 901 pts; media shares tumble

The domestic equity benchmarks traded with major cuts in mid-afternoon trade, pressured by broad-based selling across sectors. The Nifty traded below the 25,600 level. Media shares witnessed profit booking after rising in the previous two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 901.29 points or 1.08% to 82,832.96. The Nifty 50 index fell 254.65 points or 0.99% to 25,558.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index slipped 0.92% and the BSE 250 SmallCap Index fell 0.66%.

The market breadth was weak. On the BSE, 1,449 shares rose and 2,610 shares fell. A total of 182 shares were unchanged.

 

India AI Impact Summit 2026

Prime Minister Narendra Modi announced the MANAV Vision for AI, where MANAV stands for M Moral and Ethical System, A Accountable Governance, N National Sovereignty (right to data), A Accessible and Inclusive, and V Valid and Legitimate.

Apart from PM Modi, key business and technology leaders such as Mukesh Ambani, Sam Altman and Sundar Pichai also delivered keynote addresses. French President Emmanuel Macron also spoke at the Delhi AI Summit.

Tata Sons Chairman N. Chandrasekaran said, I would like to thank the vision of our Prime Minister, which has enabled us to make a serious foray into chips and semiconductors. Our next step is to build chips that are highly domain-centric and fully AI-optimized for every industry. We will initially focus on developing and launching them for the automotive sector.

Buzzing Index:

The Nifty Media index fell 1.99% to 1,434.35. The index advanced 0.92% over the previous two trading sessions.

PVR Inox (down 3.71%), D B Corp (down 2.87%), Network 18 Media & Investments (down 2.65%), Prime Focus (down 1.94%), Tips Music (down 1.89%), Saregama India (down 1.83%), Zee Entertainment Enterprises (down 1.77%), Sun TV Network (down 1.37%), Nazara Technologies (down 0.87%) and Hathway Cable & Datacom (down 0.44%) rose.

Numbers to Track:

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.6850 compared with its close of 90.7200 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement rose 0.76% to Rs 156,940.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 97.63.

The United States 10-year bond yield rose 0.44% to 4.098.

In the commodities market, Brent crude for April 2026 settlement rose $1.03 cents or 1.46% to $71.38 a barrel.

Stocks in Spotlight:

SpiceJet shed 0.53%. The company said it has received a memorandum of understanding (MoU) for the induction of 10 aircraft, marking a fresh step in its capacity expansion and network rebuilding plans.

R P P Infra Projects rose 1.93% after the company received a letter of acceptance (LoA) worth Rs 52.17 crore from the Water Resources Department, Tamil Nadu.

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