At 10:30 ST, the barometer index, the S&P BSE Sensex, tumbled 449.52 points or 0.55% to 82,108.01. The Nifty 50 index slipped 155.20 points or 0.61% to 25,125.65.

In the broader market, the S&P BSE Mid-Cap index fell 0.47% and the S&P BSE Small-Cap index rose 0.30%.

The market breadth was negative. On the BSE, 1,725 shares rose and 1,894 shares fell. A total of 175 shares were unchanged.

New Listing:

Shares of ECOS (India) Mobility & Hospitality were currently trading at Rs 421.35 at 10:17 IST on the BSE, representing a premium of 26.15% as compared with the issue price of Rs 334.

The scrip was listed at Rs 391.30, exhibiting a premium of 17.15% to the issue price.

So far, the stock has hit a high of 426 and a low of 380.10. On the BSE, over 10.45 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU bank index fell 1.45% to 6,895.50. The index declined 1.79% in the two consecutive trading sessions.

Canara Bank (down 2.04%), Indian Bank (down 1.75%), Bank of Baroda (down 1.7%), Punjab National Bank (down 1.42%), Union Bank of India (down 1.15%), Bank of India (down 1.08%), State Bank of India (down 1.04%), UCO Bank (down 0.91%), Indian Overseas Bank (down 0.71%) and Central Bank of India (down 0.59%) edged lower.

Stocks in Spotlight:

Texmaco Rail & Infra Engineering added 1.23% after the firm has completed the acquisition of Jindal Rail & Infrastructure, strengthening its position in the wagons market and expanding its capabilities and product range. The final cash payment was Rs 614 crore, at a valuation of 8.1 times the FY24 EV/Ebitda.

Mankind Pharma gained 1.49% after the pharma major executed a Business Transfer Agreement to transfer its over-the-counter (OTC) business undertaking on a slump sale basis to its subsidiary, Mankind Consumer Products (MCPPL).