The headline equity benchmarks traded with moderate losses in the afternoon trade amid weak global cues. Investor sentiment remained under pressure as the rupee weakened further amid uncertainty in West Asia. Persistent inflationary concerns and weakness in bond markets also weighed on market sentiment.

The Nifty traded below the 23,600 level. Media, chemical and consumer durables shares declined, while oil & gas and auto shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex declined 150.19 points or 0.20% to 75,049.92. The Nifty 50 index fell 45.90 points or 0.20% to 23,563.05.

In the broader market, the BSE 150 MidCap Index rose 0.02% and the BSE 250 SmallCap Index fell 0.27%.

The market breadth was negative. On the BSE, 1,823 shares rose and 2,120 shares fell. A total of 210 shares were unchanged.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 96.8850 compared with its close of 96.7000 during the previous trading session. It also touched an all-time intraday low of 96.9575 in early trade.

In the commodities market, Brent crude for July 2026 settlement declined $1.46 or 1.31% to $109.82 a barrel.

Gainers & Losers:

Hindalco Industries (up 2.67%), Reliance Industries (up 2.28%), Bajaj Auto (up 2.08%), Mahindra & Mahindra (up 1.12%) and Oil & Natural Gas Corporation (up 1.06%) were the major Nifty50 gainers.

Bharat Electronics (down 2.94%), Tata Steel (down 2.45%), Tech Mahindra (down 1.56%), Nestle India (down 1.36%) and Shriram Finance (down 1.13%) were the major Nifty50 losers.

Stocks in Spotlight:

Hatsun Agro Product declined 2.04%. The company's standalone net profit jumped 18.3% to Rs 50.89 crore on 14.9% increase in revenue from operations to Rs 2,577.63 crore in Q4 FY26 over Q4 FY25.

Zee Entertainment Enterprises fell 4.94% after reporting a consolidated net loss of Rs 103.69 crore in Q4 FY26, compared with a net profit of Rs 188.39 crore in the same period last year. Total income declined 5.36% year-on-year to Rs 2,101.1 crore during the quarter.

Borosil slipped 2.27% after the company reported a 5.02% year-on-year (YoY) decline in consolidated net profit to Rs 10.58 crore in Q4 FY26, compared with Rs 11.14 crore posted in Q4 FY25. Revenue from operations rose 5.15% year-on-year (YoY) to Rs 284.11 crore for the quarter ended 31 March 2026.

Hindalco Industries rose 2.76% after its wholly owned US-based subsidiary Novelis reported improved operating profitability for the fourth quarter of fiscal year 2026. Hindalco shares also gained after a report suggested that the stock could be included in the Sensex during the June 2026 rejig

Dynamatic Technologies tumbled 7.59% after the company reported a 21.93% decline in consolidated net profit to Rs 12.56 crore in Q4 FY26, compared with Rs 16.09 crore in the corresponding quarter of the previous year. Revenue from operations rose 13.78% year-on-year to Rs 433.16 crore in the quarter ended 31 March 2026.

ASK Automotive declined 1.13%. The company reported a 24.2% increase in consolidated net profit to Rs 72 crore in Q4 FY26 from Rs 58 crore in Q4 FY25. Total income increased 35.3% YoY to Rs 1,154 crore in the quarter ended 31 March 2026.

Karnataka Bank jumped 6.36% after the private sector lender reported strong growth in quarterly profitability, supported by higher net interest income, improving margins and better asset quality. The bank reported a standalone net profit of Rs 408.19 crore in Q4 FY26, up 61.74% YoY and 40.37% QoQ. Total income fell 2.4% YoY to Rs 2,656.18 crore in Q4 FY26 while increasing 5.31% QoQ from Rs 2,522.35 crore.

Global Markets:

European and Asian markets declined on Wednesday as investors weighed elevated bond yields and renewed geopolitical tensions, following U.S. President Donald Trump's statement on Tuesday that he was 'an hour away' from deciding to attack Iran, before he was persuaded to postpone the strike for a few days.

Yields on U.S. Treasurys advanced as investors continued to dump bonds on fears inflation is reigniting. The longer-dated 30-year Treasury bond yield marked its highest level since July 2007.

Overnight on Wall Street, stocks closed lower with the S&P 500 posting its third straight losing session, as a jump in bond yields threatened the bull market.

The S&P 500 closed down 0.67%, ending at 7,353.61, while the Nasdaq Composite finished 0.84% lower at 25,870.71. The Dow Jones Industrial Average shed 322.24 points, or 0.65%, to close at 49,363.88.

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