As per provisional closing data, the barometer index, the S&P BSE Sensex declined 247.78 points or 0.38% to 65,629.24. The Nifty 50 index lost 46.40 points or 0.24% to 19,624.70.

In the broader market, the S&P BSE Mid-Cap index shed 0.08% while the S&P BSE Small-Cap index added 0.07%.

The market breadth was negative. On the BSE, 1,859 shares rose and 1,830 shares fell. A total of 143 shares were unchanged.

Stocks in Spotlight:

Bajaj Auto jumped 6.61% after the company reported 20.01% jump in standalone net profit to Rs 1,836.14 crore in Q2 FY24 as compared with Rs 1,530 crore in Q2 FY23. Revenue from operations rose 5.63% YoY to Rs 10,777.27 crore in Q2 FY24, underpinned by double digit volume growth, with the sustained buoyancy on the domestic front cushioning the weak, albeit improving exports performance.

Wipro slipped 3.04% after the IT major's consolidated net profit declined 7.8% to Rs 2,646.3 crore on 1.38% decrease in revenue from operations to Rs 22,515.9 crore in Q2 FY24 over Q1 FY24.

IndusInd Bank rose 1.92% after the private lender's standalone net profit climbed 22.09% to Rs 2,181.47 crore on 26.22% rise in total income to Rs 13,529.53 crore in Q2 FY24 over Q2 FY23.

LTIMindtree jumped 5.88% after IT major's consolidated net profit rose 0.9% to Rs 1162.3 crore on 2.3% rise in revenue to Rs 8905.4 crore in Q2 FY24 over Q1 FY24.

Nestle India gained 3.39%. The FMCG major's net profit rose 37.28% to Rs 908.08 crore on 9.45% rise in revenue from operations to Rs 5036.82 crore in Q3 2023 over Q3 2022.

Rushil Decor was locked in an upper circuit limit of 20% after the company said its board will consider fund raising on 26 October 2023.

Shakti Pumps (India) was locked in an upper circuit of 20% after the company said that it has received a letter of empanelment from Maharashtra State Electricity Distribution Company for a contract worth Rs 1,603 crore.

UTI Asset Management Company (AMC) slipped 2.58% after the company's consolidated net profit fell 9.52% to Rs 182.81 crore in Q2 FY24 as compared with Rs 202.04 crore in Q2 FY23. Total revenue from operations fell 7.11% YoY to Rs 404.06 crore during the quarter.

Bandhan Bank dropped 3.78%. The Kolkata-based private lender reported a net profit of Rs 721.17 crore in Q2 FY24, steeply higher than Rs 209.27 crore recorded in Q2 FY23. Total income jumped 18.4% to Rs 5,032.19 crore in the second quarter of FY24 from Rs 4,249.87 crore posted in Q2 FY23.

Global Markets:

Markets in Europe and Asia declined across the board, taking cues from U.S. markets overnight, while the Bank of Korea kept its interest rates steady at 3.5% for the sixth time in a row.

South Korea's central bank kept its benchmark policy rate at 3.5%, in line with expectations. In its release, the Bank of Korea said that inflation in the country is ?projected to continue its underlying trend of a slowdown,? but there are uncertainties regarding the future path of inflation.

US stocks ended sharply lower on Wednesday as Treasury yields rose again and investors assessed the latest batch of quarterly corporate results and forecasts. Mounting tensions in the Middle East stoked risk aversion.

Investors have been worried about repercussions from the Israel-Hamas conflict that began October 7 with a Hamas attack on Israeli civilians and soldiers. U.S. President Joe Biden, during a lightning visit on Wednesday, pledged solidarity with Israel and said a deadly blast at a Gaza hospital seemed to have been caused by a rocket misfired by militants.

U.S. Treasury yields jumped to multiyear highs, with the 10-year Treasury yield breaking above 4.9% for the first time since 2007.

The U.S. economy showed ?little or no change? over the past six weeks, the Federal Reserve reported Wednesday in its Beige Book report. Spending was described as ?mixed? while prices increased ?at a modest pace,? the report said. Companies said they expect inflation to continue rising, thought at a slower pace.

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