At 13:30 IST, the barometer index, the S&P BSE Sensex, slipped 521.93 points or 0.68% to 76,233.12. The Nifty 50 index fell 168.70 points or 0.70% to 23,831.45.

In the broader market, the BSE 150 MidCap Index dropped 0.70% and the BSE 250 SmallCap Index declined 0.48%.

The market breadth was negative. On the BSE, 1,806 shares rose and 2,138 shares fell. A total of 217 shares were unchanged.

Gainers & Losers:

Bajaj Auto (up 2.42%), Eternal (up 1.72%), Mahindra & Mahindra (up 1.53%) and SBI Life Insurance Company (up 1.32%) were the major Nifty50 gainers.

Adani Enterprises (down 3.96%), Cipla (down 2.92%), Nestle India (down 2.63%) and Shriram Finance (down 2.45%) were the major Nifty50 losers.

Stocks in Spotlight:

Cipla declined 3.34% after the company's consolidated net profit declined 39.19% to Rs 789.05 crore in Q1 FY27, compared with Rs 1,297.62 crore posted in Q1 FY26. Revenue from operations increased 3.51% YoY to Rs 7,077.02 crore in the quarter ended 30th June 2026.

HEG rallied 5.48% after the company's consolidated net profit climbed 16.71% to Rs 122.34 crore on 11.1% increase in revenue from operations to Rs 680.79 crore in Q1 FY27 over Q1 FY26.

Hindustan Petroleum Corporation (HPCL) fell 2.67% after the state-run oil marketing company reported a standalone net loss of Rs 11,526.41 crore in Q1 FY27, compared with a net profit of Rs 4,370.87 crore in Q1 FY26.

Oracle Financial Services Software (OFSS) declined 1.45%. The company reported a 120.52% increase in consolidated net profit to Rs 1,415.5 crore on a 68.73% rise in revenue from operations to Rs 3,125.2 crore in Q1 FY27 over Q1 FY26.

Waaree Renewable Technologies declined 7.64% after the company reported a 25.58% decline in consolidated net profit to Rs 115.90 crore for the quarter ended 30 June 2026, compared with Rs 155.74 crore in Q4 FY26.

Global Markets:

European shares edged lower on Thursday, weighed down by technology stocks after U.S. tech giant Alphabet's quarterly results, while investors assessed developments in the Middle East ahead of the European Central Bank's policy meeting.

Asian stocks rose after U.S. technology firms outlined significant capital spending plans that are likely to benefit chipmakers in the region. However, the escalating war in the Middle East sent oil prices to six-week highs.

Rising oil prices have also renewed inflationary concerns, pushing short-term U.S. Treasury yields to 17-week highs as traders wager the Federal Reserve may need to raise interest rates sooner rather than later.

Brent crude futures climbed above $98 per barrel after the U.S. launched a new round of strikes on Iran and Yemen's Houthis targeted oil tankers in the Red Sea, widening the scope of the conflict.

Nearly five months of war have depleted global stockpiles and stoked inflation worldwide, with analysts warning the closure ⁠of both the Strait of Hormuz and Bab el-Mandeb in the Red Sea would disrupt shipping routes for more than a quarter of the world's oil and gas.

Overnight in the US, the S&P 500 ended Wednesday slightly below the flatline, pressured by a rise in oil prices, as investors looked ahead to another busy day of corporate earnings.

The broad market index dropped 0.14% to end at 7,498.96, while the Nasdaq Composite slipped 0.57% to 25,690.90. The Dow Jones Industrial Average lost 6.06 points, or 0.01%, and closed at 52,218.58.

Alphabet shares slid 3% in extended trading after the Google parent lifted its forecast for 2026 capital expenditures to as high as $205 billion, pointing to strong artificial intelligence demand. The increase comes as investors have grown more cautious in recent months about hyperscalers' spending around the AI effort.

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