At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 321.36 points or 0.38% to 84,675.77. The Nifty 50 index fell 114.45 points or 0.44% to 25,939.45.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.28% and the S&P BSE Small-Cap index shed 0.28%.

The market breadth was negative. On the BSE, 1,653 shares rose and 2,014 shares fell. A total of 196 shares were unchanged.

Buzzing Index:

The Nifty Pharma index fell 1.22% to 22,156.85. The index rose 0.81% in the past trading session.

Dr Reddys Laboratories (down 4.46%), Sun Pharmaceutical Industries (down 1.74%), Zydus Lifesciences (down 1.65%), Piramal Pharma (down 1.51%), Aurobindo Pharma (down 1.5%), Lupin (down 1.28%), Alkem Laboratories (down 1.23%), Laurus Labs (down 1.15%), Cipla (down 1.09%) and Wockhardt (down 1.01%) declined.

Stocks in Spotlight:

Texmaco Rail & Engineering rose 1.02% after the company bagged infrastructure contracts aggregating over Rs 78 crore from Maharashtra Metro Rail Corporation (Maha-Metro) and Central Railway.

RailTel Corporation of India shed 0.75%. The company's standalone net profit jumped 4.72% to Rs 76.07 crore in Q2 FY26, compared with Rs 72.64 crore in Q2 FY25. Revenue from operations rose 12.78% YoY to Rs 951.36 crore in Q2 FY26.

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