The Nifty traded below the 25,150 mark. Realty shares extended losses for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, dropped 299.07 points or 0.36% to 81,881.40. The Nifty 50 index lost 102.80 points or 0.41% to 25,140.15.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tumbled 1.42% and the S&P BSE Small-Cap index fell 1.17%.

The market breadth was weak. On the BSE, 1,221 shares rose and 2,979 shares fell. A total of 138 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 9.74% to 13.97.

The Indian rupee fell to a record low of 91.19 against the US dollar on Wednesday, pressured by a stronger greenback as fresh tariff threats from US President Donald Trump over Greenland fueled global risk aversion.

Buzzing Index:

The Nifty Realty index declined 1.23% to 784.15. The index dropped 8.07% in the three consecutive trading sessions.

Godrej Properties (down 3.86%), Phoenix Mills (down 2.59%), Brigade Enterprises (down 2.36%), Sobha (down 1.94%), Oberoi Realty (down 1.66%), Lodha Developers (down 1.4%), Prestige Estates Projects (down 0.95%), DLF (down 0.47%), SignatureGlobal India (down 0.1%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.16% to 6.662 as compared with the previous close of 6.684.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.6700 compared with its close of 90.9700 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement rose 4.54% to Rs 1,57,452.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 98.60.

The United States 10-year bond yield shed 0.54% to 4.272.

In the commodities market, Brent crude for March 2025 settlement declined 94 cents or 1.45% to $63.98 a barrel.

Stocks in Spotlight:

Rallis India rose 1.11%. The company's standalone net profit tanked 81.81% to Rs 2 crore in Q3 FY26 as against Rs 11 crore posted in Q3 FY25. However, revenue from operations rose 19.34% year on year (YoY) to Rs 623 crore in Q3 FY26, driven primarily by strong volume growth across businesses.

K.P. Energy shed 0.27%. The company reported a 56.68% jump in consolidated net profit to Rs 41.35 crore on a 62.83% surge in revenue from operations to Rs 344.96 crore in Q3 FY26, compared with Q3 FY25.

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