The Nifty50 fell 31.95 points (0.14%) to close at 23,618, while the Sensex declined 114.19 points (0.15%) to settle at 75,200.85.
The rupee continued its record slump, closing at 96.53 per US dollar, down 25 paise from the previous session. Top laggards on the Nifty50 included , , and . Meanwhile, broader markets saw Nifty MidCap up 0.91% and Nifty SmallCap up 1.17%..
Impact On The Stock Market
Sector-wise, defensive and export-linked sectors led gains while cyclical and rate-sensitive sectors faced selling pressure.
Top Gainers
- Nifty IT, boosted by companies with dollar revenue exposure and expectations of improved earnings.
- Nifty Realty and Nifty Chemical, which saw selective buying.
Top Losers
- Nifty Private Bank and Nifty Bank, under pressure from currency weakness.
- Nifty Metal faced selling due to rising input costs.
| Sector/Index | Performance |
| IT & BPM sector | 3.23% |
| Healthcare sector | 0.28% |
| Oil & Gas sector | 0.16% |
| Real estate sector | 1.43% |
| PSU Bank in India | 0.81% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,196.90 | 4.76 |
| HCL Tech | 1,179.40 | 2.86 |
| Tech Mahindra | 1,467.10 | 2.59 |
| Eternal | 247.21 | 2.41 |
| TMPV | 361.20 | 2.28 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Kotak Mahindra | 381.95 | -2.51 |
| UltraTechCement | 11,368.00 | -1.67 |
| TATA Cons. Prod | 1,210.90 | -1.63 |
| Titan Company | 4,102.00 | -1.62 |
| Adani Ports | 1,762.80 | -1.39 |
Market aftermath: Impact on stocks
Voltas and Blue Star Rise on Heatwave Outlook
Shares of AC manufacturers rose 4% and 3%, respectively, after Skymet forecast hot weather through early June. Rising temperatures and potential increase in demand for cooling products boosted investor sentiment.
Areas in northwest and central India, including Punjab, Haryana, Rajasthan, and Delhi, were expected to see highs nearing 45°C, with isolated heatwave conditions continuing through next week.
Cupid Shares Decline Despite Strong Quarterly Performance
fell over 5% in two sessions even after reporting its strongest-ever quarterly results for Q4FY26. Net profit and revenue exceeded guidance, driven by scale-up across business verticals, robust demand, and improved operating leverage.
However, concerns over high valuation, rising raw material costs, and potential supply chain disruptions due to the Iran conflict weighed on investor sentiment. Technical indicators suggested profit booking near resistance levels, while support was seen around 104–100 per share.
Uno Minda Slips Post-Q4 Results
fell nearly 6% to a one-month low after reporting Q4 earnings. While PAT rose 22% year-on-year to ₹326 crore and revenue increased 18% to ₹5,336 crore, analysts flagged near-term margin pressure from commodity inflation and rising labor costs.
Emkay Global downgraded the stock to ‘reduce’, cutting the target price by over 19%, while Choice Broking trimmed earnings estimates for FY27-FY29 due to margin concerns.
Crude Oil
Crude oil prices declined after US President Donald Trump called off a planned strike on Iran following requests from Gulf allies, citing ongoing negotiations. Brent crude futures dropped 2.05% to $109.80 per barrel, and WTI futures fell 1.61% to $102.70. MCX May and June crude futures also edged lower.
Analysts noted that the oil market remains highly sensitive to Iran-related headlines and ongoing supply disruptions in the Persian Gulf. Inventory constraints, limited flows through the Strait of Hormuz, and the expiration of US waivers on Russian oil sales continue to create volatility, though some temporary relief was seen from the paused military action.
Conclusion
Today’s session highlighted the interplay of global risks, currency weakness, and sector-specific performance. While IT, Realty, and Chemical stocks supported benchmark indices, weakness in banks, financials, and metals weighed on the market. Crude oil volatility and geopolitical tensions remain key factors influencing investor sentiment.
Stocks like Cupid and Uno Minda demonstrated how operational strength can be overshadowed by valuation and macro concerns. Going forward, markets are likely to remain sensitive to developments in West Asia, currency fluctuations, and sector-specific earnings, requiring investors to balance risk carefully.
