The Nifty traded below the 25,750 mark. Private Bank shares extended losses for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 490.02 points or 0.58% to 83,694.86. The Nifty 50 index fell 151.05 points or 0.58% to 25,723.05.

In the broader market, the S&P BSE Mid-Cap index shed 0.45% and the S&P BSE Small-Cap index dropped 1.03%.

The market breadth was weak. On the BSE, 1,149 shares rose and 2,776 shares fell. A total of 196 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.76% to 10.79. The Nifty 27 January 2026 futures were trading at 25,846, at a premium of 122.95 points as compared with the spot at 25,723.05.

The Nifty option chain for the 27 January 2026 expiry showed a maximum call OI of 67 lakh contracts at the 26,000 strike price. Maximum put OI of 58 lakh contracts was seen at 26,000 strike price.

Buzzing Index:

The Nifty Private Bank index dropped 0.91% to 28,512.50. The index fell 1.27% in two consecutive trading sessions.

ICICI Bank (down 2.2%), Axis Bank (down 0.99%), HDFC Bank (down 0.79%), Kotak Mahindra Bank (down 0.46%), Bandhan Bank (down 0.27%) and RBL Bank (down 0.10%) declined.

On the other hand, Yes Bank (up 1.01%), Federal Bank (up 0.92%) and IDFC First Bank (up 0.42%) advanced.

Stocks in Spotlight:

Keystone Realtors shed 0.48%. The company said that it had recorded 3% de-growth in its pre-sales to Rs 836.99 crore in Q3 FY26 from Rs 863 crore in Q3 FY25.

Waaree Renewable Technologies slipped 3.31% after the company announced reduction of the capacity and the corresponding contract value of a previously received commercial order from its subsidiary, Waaree Forever Energies (WFEPL).

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