Sensex at day’s low, down 600 pts, Nifty below 24,000; IndiGo, Cipla weigh

The Nifty50 and the Sensex fell as oil prices advanced due to ongoing US-Iran tensions.

As of 10:00 AM, the Nifty50 was down 168.25 points or 0.7 per cent at 24,019.45, and the Sensex fell 586 points or 0.76 per cent to 76,883.91.

InterGlobe Aviation, Cipla, and Axis Bank were the top losers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap were trading 0.59 per cent and 0.92 per cent down, respectively.

Sector-wise, the Nifty Pharma dropped over 1 per cent as concerns about pharma companies’ growth outlook weighed after US announced that they will impose 100 per cent tariff on imports of generic drugs from 2028.

The Nifty FMCG and the Nifty Auto were outperforming peers.

Q1 Results Today

Adani Green Energy, Adani Power, Aye Finance, Bharat Petroleum Corporation (BPCL), CIE Automotive India, CSB Bank, Dr Reddy’s Laboratories, Eternal, Gandhar Oil Refinery (India), Geojit Financial Services, HEG, HFCL, Hindustan Petroleum Corporation (HPCL), IIFL Finance, IndusInd Bank, JSW Energy, Jubilant Ingrevia, Mahindra Holidays & Resorts India, NACL Industries, Nippon Life India Asset Management, Nestlé India, NTPC Green Energy, Oracle Financial Services Software, Orient Electric, Schaeffler India, Shoppers Stop, Smartworks Coworking Spaces, SRF, Stylam Industries, Tanla Platforms, Tata Communications, Tips Music, UCO Bank, United Spirits, UTI Asset Management Company, Vardhman Special Steels

IPO Today

Cube Highways Trust InvIT and Shree Balaji Mala initial public offers (IPOs) opened for subscription on Wednesday. Both are book-build issues worth ₹5,000 crore and ₹18.90 crore, respectively.

Metalic Technoforge initial IPO entered the second day of subscription on Wednesday. The company is seeking to raise ₹49.96 crore from the primary markets.

Gulf Lloyds IPO opened for subscription for the third day. It’s a book-build issue worth ₹18.19 crore.