Banking, consumer durables and pharma shares declined while media, metal and IT shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 501.51 points or 0.61% to 81,757.73. The Nifty 50 index fell 143.05 points or 0.57% to 24,968.40. In the past two trading sessions, the Sensex and Nifty declined 1.06% and 0.97%, respectively.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 0.62% and the S&P BSE Small-Cap index shed 0.64%.

The market breadth was negative. On the BSE, 1,657 shares rose and 2,392 shares fell. A total of 159 shares were unchanged.

Buzzing Index:

The Nifty Private Bank index declined 1.46% to 27,534.50. The index fell 2.04% for the second consecutive trading session.

Axis Bank (down 5.38%), RBL Bank (down 1.69%), HDFC Bank (down 1.48%), Kotak Mahindra Bank (down 1.35%), IDFC First Bank (down 0.53%) and Federal Bank (down 0.07%) declined.

Stocks in Spotlight:

Wipro advanced 2.56% after the IT major's consolidated net profit jumped 10.89% to Rs 3,330.4 crore on 0.77% rise in revenue from operations to Rs 22,135 crore in Q1 FY26 over Q1 FY25.

LTIMindtree declined 1.27%. The company reported a 11.13% jump in consolidated net profit to Rs 1,254.10 crore on 0.71% increase in revenue from operations to Rs 9,840.60 crore in Q1 FY26 over Q4 FY25.

Jio Financial Services shed 0.44%. The company's consolidated net profit rose 3.83% to Rs 325 crore while total income jumped 48.09% to Rs 418 crore in Q1 June 2025 over Q1 June 2024.

Nuvoco Vistas Corporation advanced 1.52% after the company posted strong Q1 FY26 results. On a consolidated basis, net profit surged 4,589% year-on-year to Rs 133.16 crore in Q1 FY26. Revenue from operations grew 8.96% YoY to Rs 2,872.70 crore during the quarter.

Route Mobile fell 4.78% after the company's consolidated net profit declined 32.23% to Rs 53.21 crore on a 4.77% drop in revenue from operation to Rs 1,050.83 crore in Q1 FY26 over Q1 FY25.

Indian Hotels Company (IHCL) advanced 1.56% after the company's consolidated net profit rose 19.31% to Rs 296.37 crore on 31.66% surge in revenue from operations to Rs 2,041.08 crore in Q1 FY26 over Q1 FY25.

Sterling and Wilson Renewable Energy (SWREL) dropped 4.44%. The company reported a consolidated net profit of Rs 31.97 crore in Q1 FY26, which is nearly eight times the PAT of Rs 4.19 crore posted in Q1 FY25. Revenue increased by 92.5% to Rs 1761.63 crore in the first quarter from Rs 915.06 crore recorded in the same period last year.

Sunteck Realty declined 1.95%. The company reported a 46.75% rise in net profit to Rs 33.43 crore, despite a 40.45% decrease in total revenue from operations to Rs 188.32 crore in Q1 FY26 compared to Q1 FY25.

Indian Overseas Bank (IOB) fell 0.15%. The bank reported 75.57% rise in net profit to Rs 1,111.04 crore on 17.15% increase in total income to Rs 8,866.47 crore in Q1 FY26 over Q1 FY25.

Global Markets:

European Stocks traded higher on Friday, as investors focused on corporate earnings for clues on the impact of U.S. tariff policies on businesses.

German producer prices fell by 1.3% year-on-year in June, the federal statistics office reported on Friday.

Most Asian shares ended higher, taking cues from Wall Street's rally overnight. Investors cheered a batch of upbeat US economic reports and corporate earnings that comfortably beat expectations.

In Japan, inflation showed some signs of cooling. Core inflation for June eased to 3.3%, down from May's 29-month high of 3.7%, with rice prices showing signs of moderation. Headline inflation also slipped to 3.3%, from 3.5% the previous month. However, the core-core inflation gauge, closely tracked by the Bank of Japan, as it strips out both food and energy, edged up to 3.4%, hinting that underlying price pressures are still in play.

Over on Wall Street, the S&P 500 and Nasdaq closed at record highs on Thursday. Strong earnings and resilient consumer spending drove the rally. The Dow Jones rose 0.52%, while the S&P 500 climbed 0.54%, and the Nasdaq jumped 0.74%.

Investors also brushed off worries about new US trade tariffs set to kick in from August 1 under President Trump, focusing instead on growth and AI-fueled optimism.

Taiwanese chip giant TSMC stole the spotlight with stellar earnings and a bullish outlook on AI-related demand. Its US-listed shares surged 3.4%, igniting gains across the semiconductor and tech sectors.

Adding to the momentum, US retail sales rebounded strongly in June after two months of decline. Sales rose 0.6% month-on-month, reversing a 0.9% dip in May, thanks to increased auto purchases and a still-healthy consumer.

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