The Nifty Bank index slipped 274 points to 57,827, and the Nifty Midcap 100 index declined 250 points to 60,037, pulling back from last week’s record high.
Market breadth favoured the bears, with the advance-decline ratio standing at roughly 1:2. All major sectoral indices ended in the red except consumerdurables, which edged higher led by gains in Titan Company and Voltas.
Power Grid Corporation of India slumped over 3% to emerge as the top Nifty loser after the state-run utility’s September-quarter earnings missed market expectations. Hero MotoCorp fell more than 4% as its October sales lagged estimates, while Adani Enterprises dropped 3% after the company’s board approved a ₹2,500-crore rights issue.
Among other laggards, Gland Pharma, JK Paper, and Arvind SmartSpaces slipped between 2% and 3% each after posting weaker-than-expected quarterly results.
In contrast, select consumer and telecom names bucked the downtrend. Titan and Bharti Airtel gained nearly 2% each after reporting strong quarterly earnings. Indus Towers rose 3% after Bharti Airtel’s board cleared a plan to buy an additional 5% stake in the telecom tower operator.
Jewellery retailer Thangamayil Jewellery extended its rally, surging over 30% in two sessions after the company raised its revenue guidance for FY26, citing festive demand and robust sales momentum.
Mahindra & Mahindra and State Bank of India rebounded 1–2% from intraday lows following their quarterly results, which were largely in line with expectations.
