Pharma and media shares advanced while auto, PSU Bank and realty shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 852.49 points or 1.09% to 77,664. The Nifty 50 index slumped 205.05 points or 0.84% to 24,173.05. in the two consecutive trading session, the Sensex, and Nifty plunged 2.03% and 1.64%, respectively.

In the broader market, the BSE 150 MidCap Index shed 0.33% and the BSE 250 SmallCap Index fell 0.49%.

The market breadth was negative. On the BSE, 1,768 shares rose and 2,514 shares fell. A total of 174 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.58% to 18.59.

In the commodities market, Brent crude for June 2026 settlement jumped $1.49 or 1.46% to $103.40 a barrel.

Economy:

The HSBC Flash India PMI Composite Output Index was rose to 58.3 in April from the final reading of 57.0 in March. The latest reading signalled a sharp expansion in overall business activity, remaining well above its long-run average.

HSBC Flash India Services PMI Business Activity Index stood at 57.9 in April 2026 compared with 57.5 in March 2026.

Meanwhile, HSBC Flash India Manufacturing PMI Output Index climbed to 59.1 in April 2026 compared with 55.7 in March 2026. Overall manufacturing business conditions also strengthened, with the HSBC Flash India Manufacturing PMI rising to 55.9 in April from 53.9 in the previous month.

Buzzing Index:

The Nifty Auto index declined 2.35% to 25,828.10. The index declined 2.99% in the two straight trading sessions.

Ashok Leyland (down 4.66%), TVS Motor Company (down 4.03%), Samvardhana Motherson International (down 3.45%), Mahindra & Mahindra (down 3.24%), Hero MotoCorp (down 3.03%), Tata Motors Passenger Vehicles (down 2.74%), Sona BLW Precision Forgings (down 2.36%), Exide Industries (down 2.06%), Eicher Motors (down 1.9%) and Uno Minda (down 1.84%) declined.

Stocks in Spotlight:

Oracle Financial Services Software (OFSS) jumped 7.86% after the company reported a 30.72% increase in consolidated net profit to Rs 841.7 crore on a 20.33% rise in revenue from operations to Rs 2,065.2 crore in Q4 FY26 over Q4 FY25.

Sangam India declined 1.40%. The company's consolidated net profit zoomed 245.27% to Rs 32.87 crore in Q4 FY26 as against Rs 9.52 crore in Q4 FY25. Revenue from operations rose 20.37% year on year (YoY) to Rs 883.93 crore in Q4 FY26.

Trent tumbled 4.36%. The company reported a 29.95% jump in standalone net profit to Rs 454.75 crore on a 20.22% increase in revenue from operations to Rs 4,936.64 crore in Q4 FY26 over Q4 FY25.

Tips Music jumped 9.65% after the company's standalone net profit surged 92.91% to Rs 59.05 crore on 32.43% increase in revenue from operations to Rs 103.93 crore in Q4 FY26 over Q4 FY25.

Prizor Viztech was locked in 5% upper circuit at Rs 565 after the company reported 152.8% jump in net profit to Rs 14.84 crore on a 164.4% increase in revenues to Rs 105.93 crore in Q4 FY26 as compared with Q4 FY25.

Tata Communications jumped 4.85%. The company has reported 65.4% drop in consolidated net profit to Rs 263 crore despite a 9.4% rise in gross revenues to Rs 6,554 crore in Q4 FY26 as compared with Q4 FY25. The company's board has declared a dividend of Rs 17.50 per share for the financial year ended 31 March 2026.

Alembic Pharmaceuticals rose 0.76%. The company announced the incorporation of a new subsidiary in the Philippines, aimed at expanding its international presence.

Infosys declined 2.04%. The company has announced a strategic collaboration with OpenAI to help enterprises transform software development and modernization with OpenAI's frontier AI models and products like Codex.

KP Energy jumped 3.47% after the company received an inter-state electricity trading licence from the Central Electricity Regulatory Commission. The licence, classified under Category V, allows the company to undertake electricity trading across state boundaries and participate in national power markets.

Jio Financial Services rallied 4.28% after the company said that it has entered into a binding agreement with Allianz Group (Allianz) to form a 50:50 primary insurance joint venture (JV). The JV, covering the general insurance and health insurance segments, would serve the rapidly expanding Indian insurance sector. The partnership combines two financial services firms to offer protection products tailored to Indian individuals and businesses. Customers benefit from JFSL's digital reach and local market knowledge along with Allianz's insurance products and expertise.

Speciality Medicines hit an upper limit of 5% after the company announced a new export order from an international client. The company said it has entered into a commercial arrangement with a global distributor for pharmaceutical finished products worth about $2 million, or approximately Rs 18.8 crore.

Global Markets:

The Dow Jones index futures were down 276 points, indicating a negative opening in the US stocks today.

European market declined on Thursday as regional market sentiment remained subdued and oil prices edged higher.

The U.K. government borrowing fell by almost '20 billion to '132 billion in the financial year ending March 2026, according to new Office for National Statistics data.

Meanwhile, the S&P Global UK Composite PMI rose to 52.0 in April 2026 from 50.3, signaling expansion. Manufacturing and services both improved despite higher energy costs from the Iran conflict. However, employment fell for the 19th straight month, and input cost inflation surged to its highest since June 2022.

The S&P Global Eurozone Composite PMI fell to 48.6 in April 2026 from 50.7, signaling contraction and the sharpest slowdown since Nov 2024. Services plunged to 47.4, especially in Germany due to high energy costs from the Iran war, while manufacturing stayed in expansion at 52.2. Costs and prices surged, but employment was stable and the business outlook weakened sharply.

Asian market ended lower on Thursday as investors noted ongoing tensions around the Strait of Hormuz despite U.S. President Donald Trump's indefinite extension to a ceasefire in the Iran war.

Trump extended a two-week U.S. ceasefire on Tuesday, saying it was warranted due to Tehran's 'seriously fractured' government.

The ceasefire will remain in place until Iran submits a proposal or talks conclude, while the U.S. military continues its blockade of Iranian ports, Trump said.

However, the timeline remains uncertain. Iranian state media reported Wednesday that Tehran's negotiators would not attend talks with the U.S., calling them a waste of time.'

A lack of commitment from Iran reportedly prompted Vice President JD Vance to pause his trip to join peace talks.

Meanwhile, Iran's navy also said that it had seized two container ships in the Strait of Hormuz.

On the data front, Japan's manufacturing activity expanded at its fastest pace in four years in April, according to the S&P Global flash Purchasing Managers' Index, as firms boosted output amid supply concerns linked to Middle East tensions.

The S&P Global flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to 54.9 in April, the highest since January 2022, from 51.6 in March. The 50-mark separates growth from contraction.

South Korea's economy grew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020. The 1.7% growth in January to March from the previous quarter exceeded the widely reported estimate of 1.0% and reflects a rebound from the 0.2% contraction in the prior quarter.

Overnight on Wall Street, the S&P 500 and Nasdaq Composite finished at record levels on Wednesday after President Donald Trump extended the U.S. ceasefire with Iran, while upbeat earnings reports also lifted sentiment.