The key equity benchmarks erased all their early gains and traded with marginal losses during Thursday's mid-morning session, as profit booking in heavyweight stocks and volatility ahead of the weekly Sensex derivatives expiry weighed on investor sentiment. The Nifty slipped below the 24,350 mark, while consumer durables stocks declined after advancing in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex lost 223.29 points or 0.29% to 77,735.13. The Nifty 50 index fell 25.60 points or 0.10% to 24,306.40.

The broader market outperformed the frontline indices. the BSE 150 MidCap Index advanced 0.40% and the BSE 250 SmallCap Index rallied 0.75%.

The market breadth was strong. On the BSE, 2,535 shares rose and 1,342 shares fell. A total of 227 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.74% to 17.14.

Buzzing Index:

The Nifty Consumer Durables index declined 0.83% to 37,068.60. The index jumped 0.76% in the past trading session.

Titan Company (down 2.06%), Kalyan Jewellers India (down 1.77%), PG Electroplast (down 1.70%), Voltas (down 1.58%), Blue Star (down 1.55%) and LG Electronics India (down 0.66%) declined.

On the other hand, Amber Enterprises India (up 2.31%), Crompton Greaves Consumer Electricals (up 1.58%) and Havells India (up 1.09%) edged higher.

Stocks in Spotlight:

Larsen & Toubro added 0.05%. The company said that the Buildings & Factories (B&F) business vertical of the company has won multiple 'large' orders from a valued real-estate client. These orders are for real-estate projects across three Indian states.

Bajaj Auto advanced 2.48% after the company reported 34% jump in consolidated net profit to Rs 2,746.13 crore on 31.76% increase in revenue from operations to Rs 16,005.85 crore in Q4 FY26 over Q4 FY25.

IIFL Capital Services gained 4.34% after Fairfax India announced a Rs 2,000 crore investment in the company through a preferential allotment.

CG Power and Industrial Solutions rallied 4.02% after the company reported a 32% jump in consolidated net profit to Rs 362 crore on a 25.03% rise in revenue from operations to Rs 3,441.76 crore in Q4 FY26 over Q4 FY25.

Aptus Value Housing Finance advanced 4.21% after the company's consolidated net profit jumped 26.05% to Rs 260.95 crore on 18.66% increase in revenue from operations to Rs 574.33 crore in Q4 FY26 over Q4 FY25.

Sula Vineyards shed 0.60%. The company's consolidated net profit tumbled 34% to Rs 8.60 crore on a 7.3% rise in revenue from operations (excluding net excise duty) to Rs 134.91 crore in Q4 FY26 over Q4 FY25.

Apcotex Industries hit an upper circuit of 20% after the company's standalone net profit zoomed 107.40% to Rs 34.74 crore in Q4 FY26 as against Rs 16.75 crore in Q4 FY25. Revenue from operations jumped 13.79% year on year to Rs 397.58 crore during the quarter ended 31st March 2026.

Global Markets:

Asia markets rallied on Thursday, with Japan's Nikkei 225 hitting 62,000 for the first time, as investors looked past the renewed tensions in the Middle East.

The broader regional advance came after President Donald Trump warned Iran would be bombed 'at a much higher level' if it failed to agree to a peace deal.

Trump's fresh threats came as reports suggested Washington and Tehran were nearing an agreement to end the war.

The president in a social media post reportedly said the U.S. military offensive known as Operation Epic Fury 'will be at an end' if Iran 'agrees to give what has been agreed to, which is, perhaps, a big assumption.'

If that happened, the U.S. naval blockade of Iranian ports in the Gulf of Oman would 'allow the Hormuz Strait to be OPEN TO ALL, including Iran,' Trump wrote.

Overnight in the U.S., stocks rose following developments in the Middle East.

The S&P 500 advanced 1.46% to 7,365.12, while the Nasdaq Composite gained 2.02% and ended at 25,838.94. Both indexes touched new highs and closed at records. The Dow Jones Industrial Average added 612.34 points, or 1.24%, to close at 49,910.59.

Oil prices fell sharply Wednesday on optimism that the U.S. and Iran were close to an agreement to end the conflict that has caused the largest energy supply disruption in history.

U.S. officials were quoted by the media saying that the White House believes it is nearing a one-page, 14-point memorandum of understanding to end the war and establish a framework for more detailed nuclear talks.

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