Jio Platforms capped its listing at ₹1,419, a 4.3% jump from the ₹1,358 allotment, and pushed its market cap past ₹13 lakh crore, slotting it as India’s second‑largest firm.
The Nifty 50 slipped 51 points to 22,699, while the Sensex dropped 353 points to 73,246, reflecting a 0.2% and 0.5% decline respectively.
IT stocks dragged the index down 2% amid AI‑related earnings concerns, but pharma and healthcare outperformed: Apollo Hospitals rose 4.2%, Piramal Pharma leapt 17.1% after a strong Q2, and Larsen & Toubro gained 4% on a robust order book.
Other movers included TVS Motor, up 3.9% following its Q2 results, while Hyundai Motor India fell from intraday highs; CarTrade recorded its steepest intraday drop, and Info Edge slid over 2% after announcing a CEO transition.
Adani Group stocks trended lower overall, yet Adani Ports posted modest gains after raising its guidance; investors now eye the upcoming quarterly reports of IT and pharma names for fresh direction.