The Nifty tanked below the 24,450 mark. Media and oil & gas shares advanced while other all the sectoral indices traded in the red on the NSE.

At 13:30 IST, the barometer index, the S&P BSE Sensex dropped 578.81 points or 0.72% to 80,044.45. The Nifty 50 index declined 175.05 points or 0.71% to 24,421.10.

In the broader market, the S&P BSE Mid-Cap index declined 1% and the S&P BSE Small-Cap index fell 0.33%.

The market breadth was negative. On the BSE, 1,787 shares rose and 2,123 shares fell. A total of 162 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 1.73% to 11.92.

Gainers & Losers:

NTPC (up 2.09%), Titan Company (up 1.48%), Trent (up 0.92%), HDFC Life Insurance Company (up 0.77%) and Tata Consumer Products (up 0.47%) were the major Nifty50 gainers.

Adani Enterprises (down 3.29%), Bharti Airtel (down 2.73%), JSW Steel (down 1.96%), Grasim Industries (down 1.96%) and Adani Ports and Special Economic Zone (down 1.81%) were the major Nifty50 losers.

Titan Company advanced 1.48% after the company reported 52.5% jump in consolidated net profit to Rs 1,091 crore on a 20.4% rise in operating revenue to Rs 14,673 crore in Q1 FY26 as compared with Q1 FY25.

Stocks in Spotlight:

Subros slumped 5.79% after the company reported an 11.62% decline in consolidated net profit to Rs 40.83 crore in Q1 FY26, compared to Rs 46.20 crore posted in Q4 FY25. Revenue from operations fell 3.32% quarter-on-quarter (QoQ) to Rs 878.25 crore in the quarter ended 30 June 2025.

KRBL surged 14.24% after the company's consolidated net profit jumped 74% to Rs 150.58 crore on 32.1% increase in net sales to Rs 1,584.35 crore in Q1 June 2025 over Q1 June 2024.

Data Patterns (India) tumbled 4.98% after the company's standalone net profit fell 22.23% to Rs 25.50 crore in Q1 FY26, compared to Rs 32.79 crore posted in Q1 FY25. Revenue from operations declined 4.56% year-on-year (YoY) to Rs 99.33 crore in the quarter ended 30 June 2025.

Talbros Automotive Components (TACL) tumbled 5.94% after the company's consolidated net profit declined 16.79% to Rs 22.20 crore in Q1 FY26, compared to Rs 26.68 crore posted in Q4 FY25. Revenue from operations rose 1.17% quarter-on-quarter (QoQ) to Rs 206.76 crore in the quarter ended 30 June 2025.

Biocon fell 3.20% after the company reported a 95.2% decline in consolidated net profit to Rs 31.40 crore despite a 15.8% jump in net sales to Rs 3,910.10 crore in Q1 FY26 over Q1 FY25.

Global Markets:

Most European markets opened higher on Friday as investors reacted to U.S. President Donald Trump's nomination for an open seat on the Federal Reserve's governing board.

Asian markets traded lower. Japan's Topix index rose for the fourth consecutive session Friday and hit a record high of 3,031.78.

Investors will continue to monitor how the reciprocal tariffs levied by President Trump will impact the affected countries and the global economy in general.

On Wall Street, the 30-stock Dow closed down about 224 points, or 0.5%, while the S&P 500 ended the session off 0.08% on Thursday. However, the Nasdaq Composite managed to outperform and added nearly 0.4%.

On Thursday afternoon, the President announced that he has selected Stephen Miran, chair of the Council of Economic Advisors, as his pick to replace Adriana Kugler on the Federal Reserve Board of Governors. Miran will serve out the rest of Kugler's term, which expires in January, following her resignation last Friday.

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