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Metal, pharma and IT shares advanced while banking and consumer durables shares declined.
At 13:25 ST, the barometer index, the S&P BSE Sensex declined 871.12 points or 1.12% to 76,689.79. The Nifty 50 index tumbled 216.80 points or 0.90% to 23,780.00.
In the broader market, the BSE 150 MidCap Index dropped 0.58% and the BSE 250 SmallCap Index fell 0.10%.
The market breadth was positive. On the BSE, 2,195 shares rose and 1,953 shares fell. A total of 168 shares were unchanged.
Gainers & Losers:
Hindalco Industries (up 3.25%), NTPC (up 2.10%), Bharat Electronics (up 2.08%) and Bajaj Auto (up 1.84%) and Dr Reddy’s Laboratories (up 1.78%) were the major Nifty50 gainers.
Larsen & Tourbo (down 2.52%), Interglobe Aviation (Indigo) (down 2.42%), Eternal (down 2.39%), Shriram Finance (down 2.35%) and Jio Financial Services (down 2.15%) were the major Nifty50 losers.
Economy:
The World Bank has raised India’s growth forecast to 6.6% for the current financial year, up from 6.3%, citing strong domestic demand, resilient exports and recent free trade agreements. The report estimates India’s growth accelerated to 7.6% in FY26 from 7.1% in FY25, supported by robust private consumption driven by low inflation and GST rationalisation.
While lower GST rates are expected to support demand in early FY27, elevated global energy prices may pressure household incomes. The World Bank said India will remain the key growth driver for South Asia, with the region’s outlook largely anchored by its performance.
Stocks in Spotlight:
NHPC rose 0.67% after Cabinet Committee on Economic Affairs (CCEA) has approved an investment of Rs 26,069.50 Crore for the construction of Kamala Hydro Electric Project (HEP) in Kamle, Kra Daadi & Kurung Kumey, Arunachal Pradesh.
Info Edge India fell 2.45% after the company reported modest billings growth in its Q4 business update. The standalone billings stood at Rs 1,057.1 crore for the quarter ended 31 March 2026, up 7.4% from Rs 983.8 crore a year ago. The company's overall billings growth was impacted by transitional factors in 99acres. Recruitment Solutions billings were Rs 810.7 crore (up 9.5% YoY), 99Acres billings were Rs 162.8 crore (up 1.9% YoY), Jeevansathi billings were Rs 38.6 crore (up 20.9% YoY), and Shiksha billings were Rs 45.1 crore (down 12.9% YoY) in Q4 FY26
Premier Energies shed 0.54%. The company said that it has received orders for supply of 1,600 MW solar cells and modules in Q4 FY 2026, which is worth Rs 2,577 crore.
Honasa Consumer jumped 4.46% after the company said that it expects the business to deliver growth in late twenties during Q4 FY26, driven by strong growth across focus categories.
Bosch rallied 3.74% after the company signed share purchase agreement to acquire 100% stake in Bosch Chassis Systems India for total consideration not exceeding Rs 9,068.68 crore. The stake will be acquired from Robert Bosch Investment Nederland B.V (RBNI), Netherlands and Robert Bosch LLC, USA through combination of cash payment and issuance of equity shares on a preferential basis. As part of the transaction, the company will issue 1,230 equity shares at Rs 35,200 per share to each shareholder while remaining consideration will be paid in cash.
Lupin rose 0.39%. The company said that it has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Dapagliflozin and Metformin Hydrochloride extended-release tablets in the United States.
Global Markets:
Europe and Asia market traded lower on Thursday, as investors fret over news that Iran’s parliamentary speaker charged the U.S. of breaching the terms of the two-week ceasefire agreement.
On Wednesday, U.S. President Donald Trump had announced a “double sided” ceasefire, more than a month into a war with Iran.
The ceasefire was contingent on Iran agreeing to reopen the Strait of Hormuz. Tehran had said that it would stop 'defensive” operations if attacks on the country were halted, according to a statement from Iran’s Foreign Minister. Israel has also agreed to the ceasefire, media reports said.
As per reports, Iran’s parliamentary speaker Mohammed Bagher Ghalibaf subsequently accused the U.S. of violating the ceasefire deal. The violations are the denial of the Islamic Republic’s right to enrich uranium and Israel’s continued attacks on Lebanon, a drone’s entry into Iranian airspace, he reportedly said.
Overnight in the U.S., stocks surged after President Donald Trump suspended attacks on Iran for two weeks, pausing a five-week conflict that closed a crucial waterway for global energy supplies.
The Dow Jones Industrial Average ripped 1,325.46 points higher, or 2.85%, to 47,909.92. The S&P 500 popped 2.51% to 6,782.81, and the Nasdaq Composite surged 2.80% to 22,635.
Hindalco Industries Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 951.7, up 2.61% on the day as on 12:39 IST on the NSE. The benchmark NIFTY is down around 0.1% on the day, quoting at 22946.3. The Sensex is at 74027.79, down 0.11%. Hindalco Industries Ltd has risen around 0.67% in last one month.
Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has risen around 0.22% in last one month and is currently quoting at 11583.5, up 0.69% on the day. The volume in the stock stood at 80.38 lakh shares today, compared to the daily average of 68.28 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 953, up 2.54% on the day. Hindalco Industries Ltd is up 67.45% in last one year as compared to a 1.82% spurt in NIFTY and a 46.42% spurt in the Nifty Metal index.
The PE of the stock is 23.94 based on TTM earnings ending December 25.
Vedanta Ltd gained 1.01% today to trade at Rs 697. The BSE Metal index is up 0.19% to quote at 38302.3. The index is down 3.27 % over last one month. Among the other constituents of the index, Hindalco Industries Ltd increased 0.78% and JSW Steel Ltd added 0.52% on the day. The BSE Metal index went up 43.56 % over last one year compared to the 0.82% surge in benchmark SENSEX.
Vedanta Ltd has lost 3.36% over last one month compared to 3.27% fall in BSE Metal index and 6.57% drop in the SENSEX. On the BSE, 2221 shares were traded in the counter so far compared with average daily volumes of 8.31 lakh shares in the past one month. The stock hit a record high of Rs 770 on 29 Jan 2026. The stock hit a 52-week low of Rs 362.2 on 07 Apr 2025.
Steel Authority of India Ltd fell 0.9% today to trade at Rs 153.75. The BSE Metal index is down 0.22% to quote at 37731.98. The index is down 4.71 % over last one month. Among the other constituents of the index, Jindal Steel Ltd decreased 0.76% and Hindalco Industries Ltd lost 0.66% on the day. The BSE Metal index went up 32.62 % over last one year compared to the 2.5% fall in benchmark SENSEX.
Steel Authority of India Ltd has lost 1.63% over last one month compared to 4.71% fall in BSE Metal index and 6.89% drop in the SENSEX. On the BSE, 4035 shares were traded in the counter so far compared with average daily volumes of 16.3 lakh shares in the past one month. The stock hit a record high of Rs 168.15 on 02 Mar 2026. The stock hit a 52-week low of Rs 101.2 on 09 Apr 2025.
Hindalco Industries Ltd rose for a third straight session today. The stock is quoting at Rs 931.35, up 2.84% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.61% on the day, quoting at 25608.55. The Sensex is at 82943.55, up 0.54%. Hindalco Industries Ltd has dropped around 0.84% in last one month.
Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has dropped around 4.89% in last one month and is currently quoting at 11842.4, up 1.32% on the day. The volume in the stock stood at 29.8 lakh shares today, compared to the daily average of 72.78 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 931.2, up 2.71% on the day. Hindalco Industries Ltd is up 42.51% in last one year as compared to a 12.34% gain in NIFTY and a 39.36% gain in the Nifty Metal index.
The PE of the stock is 23.37 based on TTM earnings ending December 25.
Hindalco Industries Ltd is down for a fifth straight session today. The stock is quoting at Rs 891.2, down 1.79% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.21% on the day, quoting at 25736.1. The Sensex is at 83529.31, up 0.3%.Hindalco Industries Ltd has lost around 5.19% in last one month.Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has increased around 1.99% in last one month and is currently quoting at 11955, down 1.09% on the day. The volume in the stock stood at 45.01 lakh shares today, compared to the daily average of 73.95 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 893.4, down 1.8% on the day. Hindalco Industries Ltd jumped 45.75% in last one year as compared to a 12.16% rally in NIFTY and a 43.23% spurt in the Nifty Metal index.
The PE of the stock is 23.42 based on TTM earnings ending December 25.
On the segmental front, Novelis revenue was Rs 36,663 crore (up 9% YoY), Aluminium Upstream revenue was Rs 10,620 crore (up 6% YoY), Aluminium Downstream revenue was Rs 3,909 crore (up 22% YoY) and Copper revenue was Rs 18,233 crore (up 33% YoY).
EBITDA rose by 5% to Rs 8,543 crore in Q3 FY26 from Rs 8,108 crore in Q3 FY25.
The company recorded an exceptional charge of Rs 2,610 crore in Q3 FY26.
Hindalco said that on 20 November 2025, Novelis' plant located in Oswego, New York, was impacted by another major fire apart from an earlier reported fire that occurred on 16 September 2025. The fire was contained to the hot mill and did not impact the rest of the plant.
Novelis expects to incur costs related to repairs, clean-up and other costs related to this event until the operations are fully-restored at the facility. The plant is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits.
The costs associated with both the events have been recorded as exceptional expenses (net of insurance proceeds) amounting to Rs 2,610 crore during the quarter ended 31 December 2025.
Profit before tax in Q3 FY26 stood at Rs 2,829 crore, down by 47% from Rs 5,296 crore recorded in Q3 FY25.
Hindalco stated that the impacts of Oswego disruption were partly offset by cost efficiency benefits at Novelis, and record profits by the India business.
The India business continued to outperform on the back of favourable macros coupled with the company’s focus on resource security, value enhancement through new product development, and operational efficiencies.
Novelis registered an improvement of 6% in EBITDA per tonne despite lower volumes due to the Oswego disruption, reflecting its focus on cost-optimisation and operational excellence.
Satish Pai, managing director, Hindalco Industries, said: “We made strong progress across our downstream portfolio with the commissioning and ramping up of key projects including Aditya FRP, battery foil, AC fin-coating, and Copper tubes, positioning us well for emerging growth opportunities.
We have entered the next phase of growth with a clear roadmap to expand upstream capacities across alumina, aluminium and copper with aluminium capacity planned to scale up from 1.3 million tonnes to 1.7 million tonnes, and copper smelting capacity from 400 KT to 700 KT.
Novelis’ underlying performance remains strong despite short-term capacity constraints from the Oswego disruption. The 600 KT Bay Minette project, on track for commissioning in the second half of FY27, will be a key growth driver.”
Hindalco Industries is the metals flagship company of the Aditya Birla Group. A $28 billion metals powerhouse, Hindalco is the world’s largest aluminium company by revenues, and the world’s second largest copper rods manufacturer (outside China).
IT, realty and media stocks tumbled while metal and consumer durables shares managed to advance.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 558.72 points or 0.66% to 83,674.92. The Nifty 50 index fell 146.65 points or 0.57% to 25,807.20.
In the broader market, the BSE 150 MidCap Index dropped 0.46% and the BSE 250 SmallCap Index slipped 0.86%.
The market breadth was negative. On the BSE, 1,679 shares rose and 2,532 shares fell. A total of 174 shares were unchanged.
Direct Tax Collection Data:
The central government’s net direct tax collections, after accounting for refunds, stood at Rs 19.43 lakh crore so far this fiscal year, up 9.4% from a year earlier. Net corporate tax collection rose 14.51% to Rs 8.90 lakh crore, while taxes from non-corporates, including individuals and Hindu Undivided Families (HUFs), rose 5.91 % to about Rs 10.03 lakh crore.
Buzzing Index:
The Nifty IT index declined 5.73% to 33,083.45 amid concerns over artificial intelligence-led disruption and global macro uncertainty. The sharp fall followed the launch of a new artificial intelligence tool by US-based startup Anthropic, which recently introduced a product tailored for corporate legal teams. The sector was also weighed down by stronger-than-expected US jobs data, which dampened expectations of near-term interest rate cuts by the Federal Reserve and added to investor caution toward export-oriented technology stocks. Meanwhile, the index tanked 7.39% in the two consecutive trading sessions.
Coforge (down 6.48%), Tech Mahindra (down 6.25%), Oracle Financial Services Software (down 6.23%), Infosys (down 5.77%) and LTIMindtree (down 5.5%), Tata Consultancy Services (down 5.43%), Mphasis (down 4.83%), HCL Technologies (down 4.82%), Wipro (down 4.7%) and Persistent Systems (down 4.69%) declined.
Hindalco Industries rose 0.06%. The company said its wholly owned subsidiary Novelis Inc. has provided an update on the twin fire incidents at its Oswego plant in New York that occurred in September and November 2025. Novelis estimates the total free cash flow impact at $1.3-1.6 billion, which includes repair costs, operational downtime, working capital timing and other related expenses. The company said 70-80% of the free cash flow and adjusted EBITDA impact is expected to be recoverable through insurance, subject to policy terms, conditions and potential coverage disputes. No firm estimate for insurance recovery has been accrued at this stage. The Oswego hot mill is expected to restart by late Q2 calendar 2026.
Meanwhile, Novelis reported its Q3 earnings. The Hindalco subsidiary reported a net loss attributable to common shareholders of $160 million, compared with a net income of $110 million in the prior year, Net sales rose 3% YoY to $4.2 billion.
SJVN rose 1.18% after the company reported a 50.6% jump in consolidated net profit to Rs 224.38 crore in Q3 FY26, compared with Rs 149.03 crore in Q3 FY25. Revenue from operations surged 61.2% year-on-year to Rs 1,081.97 crore during the quarter under review, up from Rs 670.99 crore in the corresponding period last year.
Zydus Lifesciences rose 2.22% after the company announced a settlement agreement with Astellas Pharma Inc. in relation to Myrbetriq (generic name: Mirabegron) in the United States.
Lenskart Solutions surged 13.67% after the company reported 237.9% increase in consolidated net profit to Rs 132.7 crore on a 37.4% rise in revenue to Rs 2,307.7 crore in Q3 FY26 as compared with Q3 FY25.
Jupiter Wagons slipped 3.69% after its consolidated net profit tanked 35.28% to Rs 62.99 crore in Q3 FY26, compared with Rs 97.33 crore recorded in Q3 FY25. Revenue from operations fell 13.54% YoY to Rs 890.36 crore in the quarter ended 31 December 2025.
Bombay Dyeing & Manufacturing Company declined 2.84% after the company reported a consolidated net loss of Rs 9.85 crore in Q3 FY26, compared with a net profit of Rs 70.06 crore posted in Q3 FY25. Revenue from operations declined 21.9% year-on-year to Rs 324.02 crore in the quarter ended 31 December 2025.
LG Electronics India slipped 3.04% after the company reported 61.6% drop in consolidated net profit to Rs 89.67 crore on a 6.4% fall in net sales to Rs 4,114.39 crore in Q3 FY26 as compared with Q3 FY25.
Patanjali Foods shed 0.05%. The company has reported 60.0% increase in consolidated net profit to Rs 593.44 crore on a 16.5% increase in net sales to Rs 10,483.71 crore in Q3 FY26 as compared with Q3 FY25.
Global Market:
European market advanced as investors awaited for U.K. fourth quarter GDP and industrial production figures.
Most Asian market ended higher on Thursday, buoyed by Japan’s post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda.
Japanese stocks extending its post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda.
Media reports noted that Takaichi’s snap-election landslide gives her an unusually strong, multi-year mandate to execute policy, which they view as broadly supportive for Japan’s markets and corporate sector.
Overnight in the U.S., the Dow Jones Industrial Average snapped a three-day win streak after a better-than-expected January jobs report.
The blue-chip index lost 66.74 points, or 0.13%, and closed at 50,121.40. The S&P 500 was nearly flat at 6,941.47. The Nasdaq Composite dropped 0.16% to end at 23,066.47.
The Bureau of Labor Statistics’ January nonfarm payrolls report showed job growth of 130,000 in January. Media reports suggested that the job growth gains for January were estimated to be around 55,000. Jobs growth in December was downwardly revised to 48,000.
Strong labor market has reduced the odds for interest rate cuts by the Federal Reserve.
The jobs report follows weaker-than-expected consumer data released on Tuesday. That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.
The Oswego hot mill is expected to restart by late Q2 calendar 2026. Novelis said it is working with customers and leveraging its global operations and external suppliers to mitigate the impact during the restoration period.
Meanwhile, Novelis reported its Q3 earnings. The Hindalco subsidiary reported a net loss attributable to common shareholders of $160 million, compared with a net income of $110 million in the prior year, largely due to the fires at its Oswego, US plant in September and November.
Net sales rose 3% YoY to $4.2 billion. Production disruptions at Oswego led to rolled product shipments being about 72 kilotonnes lower than expected, resulting in an estimated pre-tax negative impact of $54 million on adjusted EBITDA and net loss. Overall, net loss was further weighed down by $327 million in pre-tax fire-related losses.
Adjusted EBITDA stood at $348 million, down 5% YoY, impacted by an estimated $54 million hit from the Oswego fires and $34 million from tariffs.
It received a $750 million equity infusion received from the parent company in December 2025 to support operations and recovery efforts.
Novelis said underlying market fundamentals remain positive, with strong growth expected to continue in beverage packaging and favourable trends emerging in the scrap market. The company highlighted that controllable actions are driving improvements in adjusted EBITDA per tonne, supported by a cost-efficiency programme that is delivering positive results and a higher FY26 savings outlook, while its tariff mitigation plan remains on track.
Novelis added that it is deploying full resources towards the recovery of the Oswego facility to minimise customer disruption, while also making significant progress on its ongoing US investment at Bay Minette.
Hindalco Industries is the metals flagship company of the Aditya Birla Group. Hindalco is the world’s largest aluminium company by revenues and the world’s second-largest copper rod manufacturer (outside China). It operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils. Along with its subsidiary Novelis, Hindalco is the global leader in flat-rolled products and the world’s largest recycler of aluminium.
HIndalco will announce Q3 results later today, 12 February 2026. The company's consolidated net profit rose 21.30% to Rs 4,741 crore while revenue from operations grew 13.5% YoY to Rs 66,058 crore in Q2 September 2025.
Shares of Hindalco Industries were down 0.41% at Rs 961.75 on the BSE.