Domestic equity indices declined sharply during the morning session, driven by heightened volatility following exit poll predictions for state elections. Investor sentiment weakened further as oil prices surged to historic highs and the rupee fell to a record low. Persistent selling by foreign institutional investors (FIIs) also added to the downward pressure. The Nifty slipped below the 23,850 mark, while auto stocks declined after advancing in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex dropped 1,084.43 points or 1.40% to 76,411.93. The Nifty 50 index plunged 345.55 points or 1.42% to 23,831.65.

In the broader market, the BSE 150 MidCap Index tumbled 1.68% and the BSE 250 SmallCap Index tanked 1.35%.

The market breadth was strong. On the BSE, 1,022 shares rose and 2,653 shares fell. A total of 186 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 10.20% to 19.22.

Earnings Today:

ACC (down 1.78%), Hindustan Unilever (down 0.59%), Adani Ports and Special Economic Zone (down 2.83%), Aster DM Healthcare (down 1.09%), Bajaj Finserv (down 0.14%), Central Bank of India (down 0.83%), Capri Global Capital (down 0.49%), Cholamandalam Investment and Finance Company (down 3.36%), Edelweiss Financial Services (down 1.31%), Eveready Industries India (down 1.50%), Go Fashion (India) (down 1.65%), Godrej Agrovet (down 1.83%), IDBI Bank (down 1.30%), Ideaforge Technology (down 2.93%), IndiaMART InterMESH (down 0.21%), Indus Towers (down 1.27%), Kajaria Ceramics (down 0.35%), Dr. Lal PathLabs (down 0.93%), Laurus Labs (down 0.86%), Mazagon Dock Shipbuilders (down 2.76%), National Aluminium Company (down 3.36%), Newgen Software Technologies (down 0.22%), National Securities Depository (up 0.54%), R R Kabel (down 1.57%), Smartworks Coworking Spaces (up 1.09), Sona BLW Precision Forgings (down 1.16%) will declare their results later today.

Buzzing Index:

The Nifty Auto index tanked 2.32% to 25,481.45. The index jumped 1.15% in the past trading session.

TVS Motor Company (down 3.67%), Eicher Motors (down 2.83%), Mahindra & Mahindra (down 2.73%), Tata Motors Passenger Vehicles (down 2.61%) and Uno Minda (down 2.58%) were the top losers. Among the other losers were Samvardhana Motherson International (down 2.4%), Ashok Leyland (down 2.09%), Maruti Suzuki India (down 1.81%), Bajaj Auto (down 1.63%) and Hero MotoCorp (down 1.57%) declined.

Stocks in Spotlight:

KFin Technologies slipped 3.23% after the company reported 4.60% fall in net profit to Rs 81.15 crore despite a 22.9% increase in revenue to Rs 347.33 crore in Q4 FY26 as compared with Q4 FY25.

Indian Overseas Bank shed 0.71%. The company's standalone net profit rose 43.20% year-on-year (YoY) to Rs 1,505.45 crore in Q4 FY26, compared with Rs 1,051.07 crore in Q4 FY25. Total income increased 6.14% YoY to Rs 9,779.87 crore in Q4 FY26.

Navin Fluorine International declined 0.98%. The company reported a strong Q4 FY26 performance, driven by healthy growth across key segments. On a consolidated basis, net profit stood at Rs 212.62 crore in Q4 FY26, up 124% YoY from Rs 94.98 crore and higher by 15% QoQ from Rs 185.40 crore. Revenue from operations came in at Rs 937.71 crore, rising 34% YoY from Rs 700.94 crore and 5% higher sequentially compared to Rs 892.37 crore.

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