Stock Market Live Updates | Nifty Slips Below 23,900; Sensex Drops 140 Points as Auto, IT Drag

RailTel Corporation of India received a Letter of Intent worth Rs 13.6 crore from the Thane Municipal Corporation. The stock gained over 1%, with investors reacting positively to the fresh order win.

Tata Consumer Products declined nearly 4%, marking its sharpest fall in five months. The stock emerged as one of the biggest losers in the FMCG pack, dragging the sector lower. Investors remain cautious after sustained selling pressure and weak market sentiment in defensive consumer stocks.

Ola Electric Mobility surged more than 10%, recording its strongest single-day gain in nearly 11 weeks. The rally came after recent weakness, with trading volumes exceeding the five-day average. The stock remains significantly below its 52-week high but has more than doubled from its yearly low.

The Nifty FMCG index extended losses for a second straight session, falling around 0.6%. Tata Consumer Products led the decline, followed by Hindustan Unilever, Emami and Marico. Selling pressure across consumer goods stocks weighed on the broader market despite selective strength in other sectors.

Jagsonpal Pharmaceuticals surged over 12%, extending gains for the second consecutive session. Strong buying interest and significantly higher trading volumes supported the rally. Although the stock remains below its 52-week high, it has delivered robust gains from its yearly low, attracting momentum-focused investors.

SIS has approved a share buyback worth up to Rs. 120 crore, marking its fifth buyback since listing in 2017. Despite the shareholder-friendly move, the stock declined over 3% during early trade. Investors are watching whether the buyback helps improve earnings per share and investor sentiment.

Crest Ventures, through subsidiary Sutlej Housing, has signed a development agreement with Prafulla Co-operative Housing Society for a large cluster redevelopment project in Mumbai's Dadar. The project is expected to strengthen the company's real estate portfolio and enhance its presence in Mumbai's premium redevelopment market.

Adani Ports rose over 1% after announcing MSC's Terminal Investment Limited (TiL) will invest around Rs. 12,000 crore ($1.4 billion) for a 49% stake in Vizhinjam Port. India's first deep-draft mega transshipment port, commissioned in December 2024, has an annual handling capacity of 1.6 million TEUs, strengthening India's maritime infrastructure ambitions.

Yes Bank's board has approved raising up to Rs. 16,000 crore through a mix of Rs. 7,500 crore in equity and Rs 8,500 crore in debt. The stock slipped around 1% to Rs. 24.84 despite the fundraising announcement, touching an intraday high of Rs 25.35. Investors will monitor capital deployment and its impact on future growth and profitability.

The Sensex traded at 76,560.26, down 168.11 points (0.22%), as weakness in IT, auto and metal stocks weighed on investor sentiment. Despite recovering from early lows, the benchmark remained in negative territory amid cautious trading and sector-specific selling.