The Sensex touched an intraday low of 81,121.70 but managed to pare some losses and closed at 81,551.63, down by 624.82 points or 0.76%. Meanwhile, the NSE Nifty50 fell 175.95 points or 0.7%, settling at 24,826.20.
Interestingly, the broader market indices outperformed. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 0.15% and 0.10% respectively, hinting that investors may be looking beyond the large-cap space amid current market conditions.
The fear gauge, India VIX, climbed 2.86% to 18.54 points, suggesting a slight increase in market volatility.
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Impact on the stock market
Most sectoral indices closed lower on Tuesday. Among the notable decliners:
- Nifty Auto fell up to 0.88%
- Nifty Bank dropped around 0.85%
- Nifty FMCG declined by 1.3%
- Nifty Financial Services and Metal sectors were down by nearly 0.7%
- Consumer Durables down close to 0.7%
On the upside, a few showed strength:
- Pharma edged higher by 0.11%
| Sector/Index | Performance |
| IT & BPM sector | -0.75% |
| Healthcare sector | -0.05% |
| Oil & Gas sector | -0.58% |
| Real estate sector | 0.24% |
| PSU Bank in India | 0.26% |
Top gainers today
| Company | Price (in ₹) | Change % |
| Jio Financial Share Price | 291.40 | 3.43 |
| IndusInd Bank Share Price | 820.70 | 2.57 |
| Trent Share Price | 5,573.00 | 0.85 |
| Sun Pharma Share Price | 1,683.40 | 0.44 |
| Adani Ports Share Price | 1,404.20 | 0.29 |
Top losers today
| Company | Price (in ₹) | Change % |
| UltraTechCement Share Price | 11,421.00 | -2.29 |
| ITC Share Price | 433.90 | -2.03 |
| JSW Steel Share Price | 1,013.70 | -1.80 |
| Tata Motors Share Price | 716.45 | -1.72 |
| Axis Bank Share Price | 1,195.60 | -1.61 |
Market aftermath: Impact on stocks
FMCG stocks tumble as profit booking sets in
After a strong rally over the past two days, FMCG stocks took a hit on Tuesday. The Nifty FMCG index dropped over 1.3%, making it the top sectoral loser for the day.
ITC led the fall, slipping nearly 3% to ₹431.50. United Breweries and United Spirits dropped about 1.4% each, while heavyweight Hindustan Unilever declined nearly 1.3% to ₹2,364. Other FMCG names like Godrej Consumer Products, Britannia, Nestle India, Patanjali Foods, and Tata Consumer Products also traded lower.
However, a few FMCG stocks managed small gains, including Varun Beverages, Radico Khaitan, Dabur India, Marico, and Colgate Palmolive.
The sharp correction follows a 2.6% surge in FMCG stocks over the previous two sessions, driven by early monsoon rains, the earliest in 16 years, which typically boost consumption. Investors likely booked profits at elevated levels after strong recent gains, including ITC’s impressive Q4 results announced earlier in May.
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Info Edge Q4 profits soar amid hiring rebound
Info Edge (India), parent company of Naukri.com, reported a massive 647% jump in Q4 net profit to over ₹740 crore, up from ₹162 crore a year ago. This jump was largely due to one-offs related to a joint venture reclassification.
Revenue increased 13% year-on-year to ₹750 crore, driven by a 19% rise in recruitment in Global Capability Centres. Its recruitment segment revenue grew nearly 11% to ₹511 crore.
Non-recruitment businesses, including education and matrimony platforms, showed steady growth and turned cash positive for the full year.
Info Edge’s CEO, Hitesh Oberoi, highlighted that hiring in tech, IT services, and BPM sectors was accelerating, with the company gaining market share.
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Shriram properties shares skyrocket on robust quarterly results
Shriram Properties stole the spotlight in an otherwise weak market, with its shares jumping nearly 18% to ₹99.58 intra-day, closing near the day’s high.
The real estate developer reported a 137% year-on-year rise in Q4 net profit to ₹47.7 crore, with revenue up 19% to ₹427.5 crore.
At the operating level, EBITDA soared 94% to ₹89.2 crore. The company also reduced net debt by 26%, lowering its debt-to-equity ratio to 0.24x, among the lowest in the industry.
CMD Murali M cited resilient demand in mid and mid-premium housing segments and stressed faster execution and project pipeline growth as key drivers for FY26.
With about 85% of ongoing projects already sold, Shriram Properties expects accelerated revenue recognition and sustained margins in the coming years.
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Crude oil futures fall amid expectations of opec+ supply increase
June crude oil futures traded slightly lower at ₹5,245 on the Multi Commodity Exchange, down 0.19% early Tuesday. Brent crude fell 0.22% to $63.98, while WTI crude dipped 0.29% to $61.35.
The market is pricing in a likely increase in OPEC+ oil output in July, possibly by around 411,000 barrels per day, according to sources.
Iran’s recent stance on nuclear negotiations adds uncertainty to supply, with sanctions potentially limiting crude exports.
Other commodity futures also saw declines: zinc down 0.56%, turmeric down 0.80%, and jeera down 0.55% on their respective exchanges.
Conclusion
Today’s Indian stock market session reflected a cautious mood. Despite early volatility and broad profit booking, especially in large caps and FMCG, the resilience in mid and small caps points to selective investor interest.
Strong quarterly results from companies like Info Edge and Shriram Properties added some bright spots, while the cautious tone in commodities and global cues kept the overall market subdued.
With the early monsoon arriving and earnings season continuing, investors will be watching carefully for fresh triggers that can guide the market direction in the coming weeks.
For more stock market insights, check out the StockGro blog.
