The key equity barometers traded with limited losses in the morning trade as investor sentiment turned risk-averse following the escalation of the US-Iran conflict, which heightened geopolitical uncertainties and stoked concerns over rising inflationary pressures. Reflecting the broad-based weakness, the Nifty slipped below the 24,150 mark.

Market participants will closely monitor further developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season and corporate business updates, as well as the progress of the southwest monsoon for cues on market direction.

Metal shares witnessed profit booking after gaining over the previous two trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 248.96 points or 0.32% to 77,320.43. The Nifty 50 index fell 79.20 points or 0.33% to 24,127.70.

In the broader market, the BSE 150 MidCap Index fell 0.23% and the BSE 250 SmallCap Index rose 0.17%.

The market breadth was strong. On the BSE, 2,090 shares rose and 1,766 shares fell. A total of 243 shares were unchanged.

Buzzing Index:

The Nifty Metal index declined 0.71% to 12,598.45. The index jumped 1.77% in the past two trading sessions.

Tata Steel (down 1.77%), Jindal Steel (down 1.45%), Hindustan Zinc (down 1.15%), Jindal Stainless (down 1.11%) and Vedanta (down 1.03%) were the top losers. Among the other losers were Steel Authority of India (down 1.02%), NMDC (down 0.92%), APL Apollo Tubes (down 0.8%), JSW Steel (down 0.64%) and Hindustan Copper (down 0.59%) declined.

Stocks in Spotlight:

Avantel added 2% after the company reported a 67.39% year-on-year increase in consolidated net profit to Rs 5.39 crore in Q1 FY27, compared with Rs 3.22 crore in Q1 FY26. Revenue from operations rose 35.65% year-on-year to Rs 70.42 crore in Q1 FY27.

Avenue Supermarts (Dmart) declined 2.42%. The company reported an 11.33% increase in consolidated net profit to Rs 860.61 crore for the first quarter of FY27, compared with Rs 772.97 crore in the corresponding quarter last year. Revenue from operations rose 14.88% to Rs 18,794.53 crore in Q1 FY27 as against Rs 16,359.70 crore in Q1 FY26.

L&T Finance advanced 1.98% after the company reported a 28.72% year-on-year (YoY) increase in consolidated net profit to Rs 902.47 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 701.10 crore in the corresponding quarter last year. Total revenue from operations jumped 22.38% YoY to Rs 5,212.92 crore in Q1 FY27.