At 14:30 IST, the barometer index, the S&P BSE Sensex tanked 1,699.55 points or 2.17% to 76,481.17. The Nifty 50 index lost 499.70 points or 2.05% to 23,893.50.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index shed 1.88% and the BSE 250 SmallCap Index fell 2.02%.
The market breadth was weak. On the BSE, 1,054 shares rose and 3,121 shares fell. A total of 183 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index fell 2.78% to 8,067.55. The index declined 5.94% in the five consecutive trading sessions.
Bank of India (down 4.92%), Union Bank of India (down 4.04%), Bank of Baroda (down 3.05%), Punjab National Bank (down 2.69%), Bank of Maharashtra (down 2.68%), Canara Bank (down 2.58%), Central Bank of India (down 2.27%), Punjab & Sind Bank (down 2.26%), State Bank of India (down 2.11%) and UCO Bank (down 1.82%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.34% to 6.715 compared with the previous session close of 6.692.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.1200 compared with its close of 95.9600 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement shed 0.37% to Rs 1,44,897.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 100.10.
The United States 10-year bond yield rose 0.55% to 4.554.
In the commodities market, Brent crude for September 2026 settlement rose $1.95 or 2.63% to $76.11 a barrel.
Stocks in Spotlight:
Silver Touch Technologies rallied 2.82% after the company secured an order from RITES to develop an artificial intelligence (AI)-based detailed project report (DPR) appraisal & intelligence platform, PARAKH.
Ceigall India fell 4.45%. The company said its joint venture with Sushee Infra & Mining has emerged as the lowest (L1) bidder for a road construction project floated by the Ministry of Road Transport and Highways (MoRTH), with an awarded cost of Rs 704.70 crore.
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