Equity

At 13:30 ST, the barometer index, the S&P BSE Sensex dropped 628.19 points or 0.81% to 76,868.17. The Nifty 50 index plunged 204.50 points or 0.82% to 23,979.55.

In the broader market, the BSE 150 MidCap Index tumbled 1.49% and the BSE 250 SmallCap Index tanked 0.94%.

The market breadth was weak. On the BSE, 1,396 shares rose and 2,631 shares fell. A total of 164 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 5.93% to 18.47.

Gainers & Losers:

Bajaj Auto (up 3.06%), Bajaj Finance (up 2.15%), Infosys (up 1.49%) and Sun Pharmaceutical Industries (up 1.20%) were the major Nifty50 gainers.

Tata Motors Passenger Vehicles (down 3.93%), Eternal (down 3.34%), Hindustan Unilever (down 2.90%) and Tata Steel (down 2.62%) were the major Nifty50 losers.

Stocks in Spotlight:

HEG tumbled 10.79% after the company's consolidated net loss widened to Rs 113.77 crore in Q4 FY26 compared to a net loss of Rs 73.67 crore in Q4 FY25. Despite the weak bottom line, revenue from operations jumped 12.42% YoY to Rs 603.21 crore in Q4 FY26.

Smartworks Coworking Spaces rose 1.40% after the company reported a consolidated net profit of Rs 16.6 crore in Q4 FY26 compared with net loss of Rs 8.30 crore in Q4 FY25. Revenue from operations jumped 44.99% YoY to Rs 519.68 crore in the quarter ended 31st March 2026.

Jana Small Finance Bank fell 1.17%. The bank reported a 13.2% rise in net profit to Rs 139.82 crore on a 20.6% increase in total income to Rs 1710.19 crore in Q4 FY26 as compared with Q4 FY25. Net interest income improved by 26.7% to Rs 736 crore in Q4 FY26 from Rs 581 crore in Q4 FY25.

Mphasis added 3.24% after the company's consolidated net profit increased 15.26% to Rs 509.64 crore on 14.36% increase in revenue from operations to Rs 4242.66 crore in Q4 FY26 over Q3 FY26.

Global Markets:

European stocks opened sharply lower on Thursday as investors digested the latest reports on the Iran war and monitored a raft of corporate earnings and central bank decisions.

Asian markets traded lower, tracking overnight losses in key Wall Street benchmarks as oil prices extended gains amid a U.S. blockade of Iranian ports, while the Federal Reserve held interest rates steady.

Oil climbed after a media report stated President Donald Trump had told aides to prepare for an extended blockade of Iran.

Prices extended gains after another media article said that Trump rejected Iran's proposal to reopen the Strait of Hormuz, signaling the U.S. naval blockade will remain until a deal addressing Tehran's nuclear program is reached.

Brent crude rose about 3.33% to around $114 a barrel, while U.S. West Texas Intermediate added 3.03% to $109.91.

Overnight on Wall Street, the Dow Jones Industrial Average ended Wednesday lower as oil prices continued their rally amid a U.S. blockade of Iranian ports and after the Federal Reserve left its key interest rate unchanged.

The 30-stock index fell 280.12 points, or 0.57%, to close at 48,861.81 and notch a fifth straight losing day. The S&P 500 inched down 0.04% to close at 7,135.95, while the Nasdaq Composite crept up 0.04% to 24,673.24.

Elevated oil prices will push up overall inflation' in the near term, Fed Chair Jerome Powell said during a press conference following the conclusion of the April Fed policy meeting.

At its latest meet, the Federal Open Market Committee voted 8-4 to hold rates in a range of 3.5% to 3.75%. That marked the first time four FOMC members dissented since October 1992. To be sure, members expressed different reasons for their vote.

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