At 10:30 ST, the barometer index, the S&P BSE Sensex, tumbled 658.83 points or 0.81% to 81,524.86. The Nifty 50 index slipped 205.10 points or 0.82% to 24,940.

In the broader market, the S&P BSE Mid-Cap index fell 0.81% and the S&P BSE Small-Cap index shed 0.36%.

The market breadth was weak. On the BSE, 1,304 shares rose and 2,344 shares fell. A total of 123 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 6.56% to 14.90.

New Listing:

Shares of Baazar Style Retail were currently trading at Rs 405.40 at 10:13 IST on the BSE, representing a premium of 4.22% as compared with the issue price of Rs 389.

The scrip was listed at Rs 389, matching the issue price.

So far, the stock has hit a high of 416.95 and a low of 378.15. On the BSE, over 9.36 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU bank index declined 2.11% to 6,755.30. The index rose 0.32% in the past consecutive trading sessions.

State Bank of India (down 2.74%), Canara Bank (down 2.71%), Indian Overseas Bank (down 2.65%), Punjab & Sind Bank (down 2.12%), Punjab National Bank (down 2.04%), UCO Bank (down 1.91%), Bank of Maharashtra (down 1.76%), Central Bank of India (down 1.74%), Bank of Baroda (down 1.58%) and Indian Bank (down 1.39%) declined.

Stocks in Spotlight:

Medplus Health Services fell 0.23%. The company’s subsidiary, Optival Health Solutions has received two suspension orders for drug licenses for stores situated in Bangalore, Karnataka.

Aptus Value Housing Finance declined 1.43%. The company’s board approved the alloment of 10,000 non convertible debentures (NCDs) of Rs 1 lakh each amounting to Rs 100 crore through private placement.

Camlin Fine Sciences fell 1.75%. The company’s board will meet on 10 September 2024, to consider raising funds via right issue of equity shares.