At 11:28 IST, the barometer index, the S&P BSE Sensex, tanked 764.81 points or 0.99% to 76,705.30. The Nifty 50 index fell 215.85 points or 0.89% to 23,972.25.

In the broader market, the BSE 150 MidCap Index fell 0.94% and the BSE 250 SmallCap Index dropped 1.34%.

The market breadth was weak. On the BSE, 1,293 shares rose and 2,686 shares fell. A total of 209 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.86% to 13.09. The Nifty 28 July 2026 futures were trading at 23,975 at a premium of 2.75 points as compared with the spot at 23,972.25.

The Nifty option chain for the 28 July 2026 expiry showed a maximum call OI of 169.7 lakh contracts at the 24,200 strike price. Maximum put OI of 119.9 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty PSU Bank index slumped 2.03% to 8,365.60. The index fell 2.89% in the past two consecutive trading sessions.

Indian Bank (down 3.21%), Union Bank of India (down 3.18%), Bank of Maharashtra (down 2.86%), Bank of India (down 2.8%), Central Bank of India (down 2.09%), State Bank of India (down 2.03%), Punjab & Sind Bank (down 1.66%), Indian Overseas Bank (down 1.3%), Punjab National Bank (down 1.28%) and UCO Bank (down 1.08%) declined.

Stocks in Spotlight:

Crisil rallied 3.48% after the company reported 26.2% rise in consolidated net profit to Rs 216.5 crore on a 27.6% increase in income from operations to Rs 1,075.4 crore in Q2 CY26 as compared with Q2 CY25.

Aurobindo Pharma slipped 2.74%. The company said its wholly owned subsidiary, CuraTeQ Biologics, has received GMP approval from ANVISA (Ag'ncia Nacional de Vigil'ncia Sanit'ria), Brazil's health regulator, for its biosimilars manufacturing facility in Hyderabad.

Rajesh Power Services declined 1.61%. The company announced that it has secured a Rs 40.58 crore turnkey contract from Paschim Gujarat Vij Company (PGVCL).

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