Indian equity markets extended losses for a fourth consecutive session as broad-based selling in IT, banking, auto, and consumer stocks dragged benchmarks lower. The NSE Nifty50 dropped 436.30 points, or 1.83%, to end at 23,379.55, while the BSE Sensex tumbled 1,456.04 points, or 1.92%, to settle at 74,559.24. According to technical analysts, the Nifty is now approaching the gap support zone near the 23,150 level following the breakdown from its earlier consolidation range. The India VIX surged nearly 10% to close around 18.50 levels, with any sustained move above the 20 mark expected to further elevate nervousness among market participants. The advance-decline ratio of 0.15x indicates broad-based weakness, as 87 stocks declined against only 13 advancing, with analysts warning of further downside toward key support levels.
Several companies are in focus today due to earnings announcements, with Bharti Airtel, DLF, TVS Motor Company, Cipla, and Power Finance Corporation all set to declare results on 13 May 2026. As reported by The Economic Times, these announcements come at a time when markets are under pressure from global uncertainties and macroeconomic concerns, making the quarterly results particularly significant for investor sentiment. The upcoming earnings will provide critical insights into sectoral demand trends and corporate profitability, potentially influencing large-cap index trajectories in the near term.
Dr Reddy's Laboratories reported a consolidated net profit at ₹221 crore in the March-ended quarter versus ₹1,587 crore in the year ago period, implying an 86% fall. According to reports from The Economic Times, the company's revenue from operations in Q4FY26 was down 12% to ₹7,516 crore versus ₹8,506 crore posted by the company in the corresponding quarter of the previous financial year.
Tata Power reported a consolidated net profit of ₹996 crore in the fourth quarter, down 4% year-on-year from ₹1,043 crore in the last year quarter. As reported by The Economic Times, the company's Board has recommended a final dividend of ₹2.5 per share for the financial year ended March 2026. Meanwhile, MTAR Technologies showed strong growth with a 223% jump in consolidated net profit to ₹44.28 crore for Q4, compared with ₹13.72 crore in the corresponding quarter last year.
Vodafone Idea announced plans to raise funds through the issuance of equity shares and/or warrants on a preferential basis, subject to regulatory and shareholder approvals. According to reports from The Economic Times, this fundraising comes at a time when investor sentiment around the company has improved following developments that eased concerns around its balance sheet stress. Additionally, IDFC First Bank faces regulatory scrutiny as the Enforcement Directorate arrested two former employees in a money laundering case linked to alleged embezzlement of ₹590 crore in Haryana government funds.
