Nifty closed sharply lower at 23,866 (-1.63%), with pressure across most sectors. Financials led the decline with Bank Nifty down 2.13%, while autos, defence and realty stocks saw broad selling. Market breadth stayed weak with 1,870 stocks declining vs 1,339 advancing, showing the selling wasn’t limited to just a few heavyweights. Interestingly, selective buying emerged in water infrastructure, pumps, kitchen appliances and cooling-related names, suggesting pockets of thematic interest despite the broader weakness. Geopolitical tensions escalated after US and Israeli strikes on Iran triggered retaliatory action, raising concerns about potential oil supply disruptions and inflation risks. With USD/INR pushing above 92 and global uncertainty rising, markets may remain sensitive to further geopolitical developments.

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