Market participants remained cautious ahead of the MSCI index rebalancing, which is expected to trigger sizeable passive fund flows under the new Closing Auction Session (CAS) mechanism. The Nifty traded below 24,050 mark.

Investors will closely track movements in crude oil and gold prices, domestic and US bond yields, the rupee, and developments surrounding the US-Iran conflict. The trajectory of monsoon rainfall and its implications for rural demand and inflation will also remain on the radar.

Metal stocks came under pressure after rising in the previous trading session

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 469.98 points or 0.61% to 76,794.63. The Nifty 50 index dropped 162.35 points or 0.66% to 24,022.30.

In the broader market, the BSE 150 MidCap Index plunged 0.82% and the BSE 250 SmallCap Index tumbled 1.03%.

The market breadth was negative. On the BSE, 1,427 shares rose and 2,438 shares fell. A total of 337 shares were unchanged.

In the commodities market, Brent crude for the November 2026 settlement jumped $2.14 or 2.43% to $90.24 a barrel.

Earnings Today:

LEAP India (down 0.50%) and Milky Mist Dairy Food (up 0.07%) will announce their quarterly earnings today.

New Listings:

Shares of Augmont Enterprises were currently trading at Rs 947.85 at 10:12 IST on the BSE, representing a premium of 20.29% as compared with the issue price of Rs 788.

The stock debuted at Rs 956 on the BSE, a premium of 21.32% over its issue price.

So far, the stock has hit a high of Rs 1,019 and a low of Rs 942. On the BSE, over 8.25 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index declined 2.22% to 13,224.75. The index jumped 0.75% in the past trading session.

Hindustan Zinc (down 4.4%), Vedanta (down 3.61%), National Aluminium Company (down 3.32%), Adani Enterprises (down 2.97%), Hindalco Industries (down 2.95%), Tata Steel (down 2.59%), Lloyds Metals & Energy (down 2.31%), Jindal Steel (down 2.14%), APL Apollo Tubes (down 2.09%) and JSW Steel (down 1.94%) declined.

Stocks in Spotlight:

Transformers and Rectifiers (India) advanced 2.78% after the company announced that it has received a purchase order from Megha Engineering and Infrastructures (MEIL) for manufacturing transformers and related works.

Ashoka Buildcon gained 13.49% after the company announced that it has secured a Rs 602.16-crore order from Rail Vikas Nigam (RVNL) for electro-mechanical works for tunnels under the Rishikesh–Karnprayag rail project in Uttarakhand.