Media shares declined after advancing in the past two trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 386.82 points or 0.52% to 74,840.44 The Nifty 50 index dropped 135.80 points or 0.58% to 23,510.65.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index tumbled 1.23% and the BSE 250 SmallCap Index dropped 2.17%.
The market breadth was negative. On the BSE, 882 shares rose and 3,138 shares fell. A total of 200 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.3200 compared with its previous close of 95.8100. It also touched an all-time intraday low of 96.3350 today.
In the commodities market, Brent crude for July 2026 settlement rose $1.44 cents or 1.32% to $110.70 a barrel.
buzzing Index:
The Nifty Media index declined 2.37% to 1,402.10. The index rose 2.89% in the past twoi trading sessions.
Zee Entertainment Enterprises (down 5.37%), Prime Focus (down 4.99%), Saregama India (down 3.87%), Network 18 Media & Investments (down 2.73%), Sun TV Network (down 2.68%), Hathway Cable & Datacom (down 2.24%), D B Corp (down 2.06%), PVR Inox (down 0.61%), Tips Music (down 0.05%) tumbled.
Stocks in Spotlight:
Azad Engineering tumbled 6.87%. The company reported a 42.42% year-on-year rise in consolidated net profit to Rs 35.99 crore for the fourth quarter ended 31 March 2026, compared with Rs 25.27 crore posted in the corresponding quarter last year. Revenue from operations rose 27.26% YoY to Rs 161.54 crore in the quarter ended 31 March 2026.
Atul Auto fell 3.88%. The company reported a 106.85% year-on-year jump in consolidated net profit to Rs 14.79 crore for the fourth quarter ended 31 March 2026, compared with Rs 7.15 crore posted in the corresponding quarter last year. Total revenue from operations grew by 14.02% year-on-year (YoY) to Rs 240.58 crore in the quarter ended 31 March 2026.
Global Markets:
Asia markets declined on Monday as investors weighed renewed geopolitical tensions after U.S. President Donald Trump warned Iran to get moving, FAST,' raising fears of further escalation in the Middle East and potential disruptions to global oil supplies.
In a post on Truth Social, Trump on Sunday said 'the Clock is Ticking' for Iran and warned there 'won't be anything left' if action was not taken soon, adding that 'TIME IS OF THE ESSENCE!' He did not elaborate on the steps he wanted Iran to take or the consequences that could follow.
Tensions between Washington and Tehran have remained elevated despite a fragile ceasefire reached in early April. The U.S. has continued its blockade of Iranian ports, while Iran has kept the Strait of Hormuz shut since the conflict began.
Last week on Wall Street, the major indices closed lower on Friday, weighed down by losses in technology stocks and a rise in U.S. Treasury yields after a summit between President Donald Trump and Chinese President Xi Jinping ended without major policy breakthroughs, leaving traders worried.
The S&P 500 shed 1.24% to end at 7,408.50, while the Nasdaq Composite slipped 1.54% to 26,225.14. The Dow Jones Industrial Average was down 537.29 points, or 1.07%, and closed at 49,526.17.
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