Pharma shares extended their losing streak for the third consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex added 79.60 points or 0.13% to 72,008.23. The Nifty 50 index rose 33.15 points or 0.12% to 22,446.20.

In the broader market, the Nify MidCap 150 Index shed 0.10% and the Nifty SmallCap 250 Index fell 0.02%.

The market breadth was negative. On the NSE, 1,557 shares rose and 1,907 shares fell. A total of 121 shares were unchanged.

RBI MPC begins 3-day meeting

The RBI Monetary Policy Committee (MPC) began its 3-day meeting today, 5 October 2026, to deliberate on interest rates and assess inflation, economic growth and financial conditions. The meeting will conclude on 7 October 2026, with markets closely watching whether the RBI will raise the repo rate for the first time since February 2023.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4% to 14.03. The Nifty 27 October 2026 futures were trading at 22,551.50 at a premium of 105.30 points as compared with the spot at 22,446.20.

The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 85.7 lakh contracts at the 23,500 strike price. A maximum put OI of 45.7 lakh contracts was seen at the 22,000 strike price.

Buzzing Index:

The Nifty Pharma index declined 0.92% to 26,068.85. The index fell 3.21% in the two straight trading sessions.

Wockhardt (down 3.42%), Abbott India (down 2.72%), Sai Life Sciences (down 2.41%), Glenmark Pharmaceuticals (down 2.14%), Mankind Pharma (down 1.41%), Laurus Labs (down 1.39%), Divis Laboratories (down 1.32%), Zydus Lifesciences (down 1.27%), Biocon (down 1.27%) and Ajanta Pharma (down 1.02%) declined.

Stock in Spotlight:

Tata Motors Passenger Vehicles rallied 2.76% after its wholly owned subsidiary, Jaguar Land Rover (JLR), reported a 24.54% year-on-year (YoY) increase in wholesales to 82,400 units in Q2 FY27 from 66,165 units in Q2 FY26.