Sensex, Nifty trade lower; European mrkt decline

The key equity barometers traded with major losses in afternoon trade as investor sentiment remained cautious following the escalation of tensions between Iran and the US over the weekend. The sell-off was further aggravated by a moderate rise in crude oil prices, which raised concerns over inflationary pressures and their potential impact on the global economy.

Going ahead, investors will closely monitor movements in crude oil and gold prices, as well as the progress of the monsoon, for further cues on market direction. Nifty slipped below 24,000 level

Auto, PSU bank and media shares declined while pharma and metal stocks advanced.

At 13:25 IST, the barometer index, the S&P BSE Sensex declined 384.31 points or 0.50% to 76,714.38. The Nifty 50 index fell 102.40 points or 0.43% to 23,952.85.

In the broader market, the BSE 150 MidCap Index tumbled 0.50% and the BSE 250 SmallCap Index lost 0.66%.

The market breadth was negative. On the BSE, 1,587 shares rose and 2,614 shares fell. A total of 249 shares were unchanged.

In the commodities market, Brent crude for August 2026 settlement gained 13 cents or 0.18% to $72.12 a barrel.

Gainers & Losers:

Max Healthcare Institute (up 2.41%), Dr Reddy's Laboratories (up 2.35%), Cipla (up 2.06%), Trent (up 1.63%) and Hindalco Industries (up 1.51%) were the major Nifty50 gainers.

Kotak Mahindra Bank (down 2.64%), Mahindra & Mahindra (M&M) (down 2.54%), Indigo (down 2.28%), Maruti Suzuki India (down 2.20%) and Eicher Motors (down 2.12%) were the major Nifty50 losers.

Economy:

India's forex reserves increased by $963 million to $672.587 billion during the week ended June 19, the RBI said on Friday. Foreign currency assets decreased by $3.072 billion to $541.217 billion, according to the RBI.

However, the value of gold reserves increased by $4.110 billion to $107.930 billion during the week. The Special Drawing Rights (SDRs) were down $52 million to $18.647 billion, the apex bank said.

India's reserve position with the IMF slipped $22 million to $4.793 billion in the reporting week, according to the apex bank's data.

Stocks in Spotlight:

Kotak Mahindra Bank declined 2.64% after the bank announced that its managing director and chief executive officer (CEO), Ashok Vaswani will not seek re-appointment upon the completion of his current term on 31st December 2026.

Omaxe zoomed 18.21% after announcing its entry into the hospitality segment with plans to develop 19 hotels across five states over the next 4'5 years. The company said it will invest approximately Rs 6,200 crore in phases to build around 5 million sq ft of hospitality assets across 13 cities, including key locations in Uttar Pradesh, Delhi, Haryana, Madhya Pradesh, and Punjab.

DCX Systems jumped 2.27% after the company announced that it has secured purchase orders worth Rs 435.85 crore in the normal course of business. The company received orders worth Rs 431.83 crore, comprising an export order of Rs 409.40 crore for the supply of electronic kits and domestic and export orders worth Rs 22.43 crore for the manufacture and supply of cable and wire harness assemblies. Separately, its wholly owned subsidiary, Raneal Advanced Systems, received domestic and export orders worth Rs 4.02 crore for the manufacture and supply of printed circuit board assemblies.

Bajaj Healthcare soared 13.13% after the company said that Subject Expert Committee (SEC) of Central Drugs Standard Control Organisation (CDSCO) has recommended for grant of approval for manufacturing and marketing of Cenobamate Tablets.

Persistent Systems tumbled 10.36%. The company's proposed acquisition of German digital engineering firm Nagarro SE. Persistent has signed an agreement to combine with Munich-headquartered Nagarro and has acquired an approximately 21% stake in the company

Persistent said the all-cash offer values Nagarro at EUR 81 per share, representing a premium of about 140% to Nagarro's undisturbed closing price on 25 June 2026 and about 94% to its three-month volume-weighted average price..

On an illustrative pro-forma trailing 12-month basis, the combined business would generate revenue of $2.795 billion, EBITDA of $463 million, EBIT of $337 million and profit after tax of $215 million.

Transrail Lighting rose 0.06%. The company announced that it has has secured new international orders worth approximately Rs 459 crore primarily in the Transmission & Distribution (T&D) business.

Vikran Engineering jumped 6.89% after the company accepted a turnkey EPC work order worth Rs 3,517.98 crore from NOPL Solar Projects for the development of a 969 MW AC solar power project across multiple locations in Maharashtra. The scope of work includes design, engineering, procurement, supply of solar PV modules and inverters, erection, testing and commissioning of the project.

Global Markets:

European market declined as easing US-Iran tensions failed to lift sentiment. Market participants remained cautious amid uncertainty over the durability of the ceasefire, keeping concerns over potential disruptions to Middle East oil supplies in focus.

Asian markets traded mixed on Monday as tensions between Iran and the U.S. escalated once again following renewed attacks in the Middle East, which threaten to prolong the war.

The U.S. attacked Iranian military targets over the weekend in retaliation to Tehran carrying out strikes along the Strait of Hormuz. President Donald Trump then threatened to annihilate Iran, saying in a Truth Social post: 'United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!'

Last week, the Nasdaq Composite posted its fifth consecutive losing session Friday as investors rotated out of key technology stocks and into more defensive areas of the market.

The tech-heavy index dropped 0.24% to close at 25,297.62, while the S&P 500 ticked down 0.05% to 7,354.02. The Dow Jones Industrial Average shed 44.51 points, or 0.09%, to end at 51,876.11.

The S&P 500 slid nearly 2% on the week, while the Nasdaq fell 4.6% in the period. The Dow outperformed, rising 0.6% week to date.

Chip stocks were weaker after a media report stated that OpenAI is considering delaying its IPO to next year because of SpaceX's poor performance following its debut and overall volatility in AI-related shares.

The report raised concerns about sustainability of their infrastructure spending given the delay in funding from the capital markets,' a global research house reportedly said.

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