The key equity indices traded with modest cuts in the morning trade. The Nifty traded below the 25,950 mark. Pharma shares declined after witnessing gains in the previous trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 321.36 points or 0.38% to 84,675.77. The Nifty 50 index fell 114.45 points or 0.44% to 25,939.45.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.28% and the S&P BSE Small-Cap index shed 0.28%.
The market breadth was negative. On the BSE, 1,653 shares rose and 2,014 shares fell. A total of 196 shares were unchanged.
Buzzing Index:
The Nifty Pharma index fell 1.22% to 22,156.85. The index rose 0.81% in the past trading session.
Dr Reddys Laboratories (down 4.46%), Sun Pharmaceutical Industries (down 1.74%), Zydus Lifesciences (down 1.65%), Piramal Pharma (down 1.51%), Aurobindo Pharma (down 1.5%), Lupin (down 1.28%), Alkem Laboratories (down 1.23%), Laurus Labs (down 1.15%), Cipla (down 1.09%) and Wockhardt (down 1.01%) declined.
Stocks in Spotlight:
Texmaco Rail & Engineering rose 1.02% after the company bagged infrastructure contracts aggregating over Rs 78 crore from Maharashtra Metro Rail Corporation (Maha-Metro) and Central Railway.
RailTel Corporation of India shed 0.75%. The company's standalone net profit jumped 4.72% to Rs 76.07 crore in Q2 FY26, compared with Rs 72.64 crore in Q2 FY25. Revenue from operations rose 12.78% YoY to Rs 951.36 crore in Q2 FY26.
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