Elevated crude oil prices remained a key concern for equity investors, particularly given their potential implications for inflation, corporate input costs and India's import bill. Market participants will closely monitor global developments, foreign institutional investor (FII) flows, key US inflation data and upcoming corporate earnings announcements for further cues on market direction.

pharma stocks remained under pressure for the second consecutive session, reflecting continued selling interest in the segment.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 51.49 points or 0.07% to 72,987.13. The Nifty 50 index shed 36.70 points or 0.16% to 22,685.25.

In the broader market, the BSE 150 Midcap Index fell 0.04% and the BSE 250 Smallcap Index rose 0.22%.

The market breadth was strong. On the BSE, 2,296 shares rose and 1,407 shares fell. A total of 258 shares were unchanged.

Brent crude futures climbed 51 cents or 0.48% to $106.20 a barrel amid concerns over supply disruptions following renewed fighting between Saudi Arabia and Yemen's Houthi rebels.

Earnings Today:

ICICI Lombard General Insurance Company (up 0.52%), HDB Financial Services (down 1.54%), Canara Bank (up 0.72%), Bajaj Consumer Care (down 0.94%), Bharat Heavy Electricals (up 0.17%), Aditya Birla Money (up 0.69%), Ceat (up 2.58%), Elecon Engineering Company (up 0.19%), Emmvee Photovoltaic Power (up 0.27%), Billionbrains Garage Ventures (Groww) (down 0.12%), Sonaselection India (down 0.28%), Tata Technologies (up 0.38%), and Leela Palaces Hotels & Resorts (down 1.91%) will declare their results later today.

Buzzing Index:

The Nifty Pharma index declined 1.32% to 25,730.50. The index fell 1.34% in the two consecutive trading sessions.

Ipca Laboratories (down 2.69%), Sai Life Sciences (down 1.94%), Zydus Lifesciences (down 1.51%), Divis Laboratories (down 1.51%), Dr Reddys Laboratories (down 1.48%), Laurus Labs (down 1.26%), Mankind Pharma (down 1.22%), Torrent Pharmaceuticals (down 1.18%), Lupin (down 1.16%) and Sun Pharmaceutical Industries (down 1.08%) declined.

Stocks in Spotlight:

Transformers & Rectifiers (India) surged 16.66% after the company reported a 135.3% jump in consolidated net profit to Rs 79.80 crore on a 60.7% increase in revenue from operations to Rs 739.44 crore in Q2 FY27 over Q2 FY26.

Sejal Glass hit the upper circuit of 20% after reporting strong Q2 FY27 results. On a consolidated basis, adjusted net profit surged 77.83% YoY and 100% QoQ to Rs 14.28 crore. Net sales increased 32.79% YoY and 17.08% QoQ to Rs 138.09 crore in Q2 FY27.