Indian markets face pressure as key stocks move on earnings and regulatory news.

Indian markets face pressure as key stocks move on earnings and regulatory news. RIL reported a 13 percent profit decline to Rs 16,971 crore in Q4 despite 13 percent revenue growth. IDFC First Bank showed resilience with 5 percent profit growth to Rs 319 crore, while Axis Bank saw marginal decline of 0.64 percent. In major regulatory action, RBI cancelled Paytm Payments Bank's licence over compliance violations. Sun Pharma announced India's largest overseas acquisition since 2007, purchasing New Jersey-based Organon for approximately 12.5 billion dollars. Market analysts warn near-term bias remains negative with support at 23,500 level. Recovery toward 24,200-24,500 zone may face selling pressure unless crude prices ease and global sentiment improves.