At 13:30 ST, the barometer index, the S&P BSE Sensex dropped 310.37 points or 0.41% to 77,003.81. The Nifty 50 index fell 72 points or 0.29% to 24,017.55.

In the broader market, the BSE 150 MidCap Index shed 0.02% and the BSE 250 SmallCap Index added 0.18%.

The market breadth was negative. On the BSE, 2,123 shares rose and 1,966 shares fell. A total of 193 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.36% to 17.94.

In the commodities market, Brent crude for June 2026 settlement jumped $2.86 or 2.64% to $111.09 a barrel.

Gainers & Losers:

Oil & Natural Gas Corporation (up 4.28%), Coal India (up 3.10%), Dr. Reddy's Laboratories (up 2.29%) and Adani Enterprises (up 2.19%) were the major Nifty50 gainers.

ETERNAL (down 3.14%), HCL Technologies (down 2.44%), Axis Bank (down 2.37%), InterGlobe Aviation (down 2.14%) and Shriram Finance (down 2.10%) were the major Nifty50 losers.

Stocks in Spotlight:

Coal India added 2.98% after the company reported a 12.9% jump in consolidated net profit to Rs 10,839.18 crore on a 5.75% rise in revenue from operations to Rs 46,490.03 crore in Q4 FY26 over Q4 FY25.

City Union Bank jumped 2.10% after the bank's standalone net profit jumped 24.9% to Rs 359.56 crore on a 20.3% increase in total income to Rs 2146.09 crore in Q4 FY26 over Q4 FY25.

Adani Total Gas rallied 1.94% after the company reported a 4.3% rise in standalone net profit to Rs 155.84 crore on a 15.9% increase in revenue from operations (excluding excise duty) to Rs 1,548.58 crore in Q4 FY26 over Q4 FY25.

Piramal Finance surged 8.82% after the company's consolidated net profit surged 389.8% to Rs 501.77 crore on a 53.7% jump in revenue from operations to Rs 4801.09 crore in Q4 FY26 over Q4 FY25.

Global Markets:

European shares edged lower on Tuesday as investors await Washington's response to Iranian peace proposals and react to earnings reports from several regional companies.

Asian markets traded mixed as investors weighed developments in U.S.-Iran negotiations.

The Bank of Japan kept its policy rate unchanged at 0.75% in April 2026 (6'3 vote), amid geopolitical uncertainty and rising energy prices. The central bank raised its FY26 inflation forecast to 2.8% (from 1.9%) but cut its growth outlook to 0.5% (from 1.0%). FY25 GDP projection was marginally increased to 1.0%.

Japan's unemployment rate rose to 2.7% in March 2026 from 2.6% in February, slightly above expectations. The number of unemployed increased to 1.86 million, while employment declined to 68.15 million and the labour force shrank to 70.02 million. Meanwhile, the number of people outside the labour force rose to 39.54 million. The labour force participation rate edged up to 63.6%, and the jobs-to-applicants ratio eased to 1.18 from 1.19 in the previous month.

U.S. President Donald Trump and his national security team on Monday discussed Iran's reported offer to reopen the Strait of Hormuz, contingent on the U.S. lifting its blockade and ending the conflict, according to White House press secretary Karoline Leavitt.

It remains unclear whether Trump, who has said sanctions relief would come only once a deal is '100% complete,' is willing to consider the proposal as a pathway to de-escalation in the two-month-long conflict.

Overnight in the U.S., the S&P 500 and the Nasdaq Composite rose to new record highs, but gains were limited as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher.

The broad market index added 0.12% and closed at a record level of 7,173.91. The Nasdaq Composite gained 0.20% and notched a closing record of 24,887.10. Both indexes also reached new all-time highs in the session. The Dow Jones Industrial Average fell 62.92 points, or 0.13%, to settle at 49,167.79.