At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 202.48 points or 0.27% to 73,803.46. The Nifty 50 index lost 31.85 points or 0.14% to 22,470.15.

In the broader market, the S&P BSE Mid-Cap index added 0.13% and the S&P BSE Small-Cap index fell 0.10%.

The market breadth was negative. On the BSE, 1,683 shares rose and 1,915 shares fell. A total of 190 shares were unchanged.

Results Today :

BHEL (up 2.73%), NMDC (up 1.46%), Eris Lifesciences (down 0.37%), Metropolis Healthcare (up 1.31%), JK Tyre (up 0.17%), PI Industries (up 0.27), Hitachi Energy India (down 3.65%), GE T&D (up 4.71%), Ircon International (up 6.63%), Maharashtra Seamless (down 3.58%), Aether Industries (down 1.79%), Sheela Foam (up 0.09%), Galaxy Surfactants (down 0.86%), Rategain travel Technologies (up 0.63%), Laxmi Organic Industries (down 1.18%), Arvind Fashions (up 0.17%), Gulf Oil Lubricants (up 0.12%), VA Tech Wabag (up 2.65%), Greenply Industries (up 0.85%), Dollar Industries (up 1.79%) and Fiem Industries (up 1.55) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Metal index gained 1.83% to 9,784.30. The index rallied 10.66% in eight trading sessions.

Vedanta (up 3.69%), Hindustan Zinc (up 3.35%), JSW Steel (up 2.66%), Hindalco Industries (up 2.2%), APL Apollo Tubes (up 2.11%) NMDC (up 1.62%), Jindal Steel & Power (up 1.61%), Tata Steel (up 1.4%), Steel Authority of India (up 1.18%) and National Aluminium Company (up 0.88%) advanced.

On the other hand, Welspun Corp (down 2.03%), Jindal Stainless (down 0.84%) and Ratnamani Metals & Tubes (down 0.53%) edged lower.

Stocks in Spotlight:

Solara Active Pharma Sciences advanced 2.83% after the company said that US Food and Drug Administration (USFDA) has successfully completed the inspection at its multipurpose API manufacturing facility at Visakhapatnam, Andhra Pradesh.

Trident tumbled 6.17% after the textile producer’s consolidated net profit slipped 56.37% to Rs 56.61 crore in Q4 FY24 as against Rs 129.74 crore in Q4 FY23. Revenue from operations rose 6.93% year on year (YoY) to Rs 1,682.26 crore in the quarter ended 31 March 2024.