Stock Market Highlights Today: BSE Sensex ends 151 points down, Nifty50 below 23,200; global crude oil prices drop

"The broader chart structure of the Nifty index remains weak, as the formation of lower highs and lower lows continues to indicate bearish dominance. The index is trading below its key short-, medium-, and long-term moving averages, highlighting the prevailing downside bias. Momentum indicators remain subdued, with RSI hovering below the neutral 50 mark. However, buying interest is consistently emerging near the 23,000–23,100 support zone, limiting further downside. Given the current setup, a level-based trading approach is advisable, with consolidation likely between 23,000–23,100 support and 23,350–23,500 resistance in the near term,” says Vatsal Bhuva, Technical Analyst at LKP Securities.

"Domestic markets witnessed a modest rebound on dip-buying as oil prices eased, despite the recent US–Iran escalation. However, the recovery proved fleeting, weighed down by an increasingly fragile global backdrop. Banking and pharma stocks attracted buying interest, supported by resilient earnings, favourable RBI measures, and a shift toward defensive sectors. In contrast, mid and small caps saw profit booking after their recent outperformance, indicating signs of near-term consolidation.

IT stocks also lagged amid concerns that stronger US inflation could delay interest rate cuts and keep global financial conditions tight. Global cues remained mixed, with major central banks continuing to signal a hawkish stance. The expected ECB rate hike has further heightened concerns around liquidity tightening and its potential impact on emerging market flows,” says Vinod Nair, Head of Research, Geojit Investments Limited.

1. Infosys: Current Price 1,115 | Price Change -30.71 (-) | -2.69% (-)
2. HCL Tech: Current Price 1,110 | Price Change -21.90 (-) | -1.94% (-)
3. Eternal: Current Price 235.20 | Price Change -4.61 (-) | -1.92% (-)
4. Adani Ports SEZ: Current Price 1,787 | Price Change -34.11 (-) | -1.88% (-)
5. Trent: Current Price 2,711 | Price Change -43.80 (-) | -1.60% (-)
6. Bajaj Finance: Current Price 870.55 | Price Change -13.56 (-) | -1.54% (-)
7. BEL: Current Price 402.30 | Price Change -6.06 (-) | -1.49% (-)
8. L&T: Current Price 3,862 | Price Change -55.50 (-) | -1.42% (-)
9. HUL: Current Price 2,140 | Price Change -29.70 (-) | -1.37% (-)
10. Bajaj Finserv: Current Price 1,645 | Price Change -19.11 (-) | -1.15% (-)

1. Kwality Wall's: Current Price 34.86 | Price Change 1.86 (+) | 5.61% (+)
2. ICICI Bank: Current Price 1,317 | Price Change 23.70 (+) | 1.84% (+)
3. M&M: Current Price 3,001 | Price Change 48.40 (+) | 1.64% (+)
4. Kotak Bank: Current Price 393.35 | Price Change 5.25 (+) | 1.36% (+)
5. Sun Pharma: Current Price 1,794 | Price Change 7.80 (+) | 0.44% (+)
6. Bharti Airtel: Current Price 1,783 | Price Change 7.40 (+) | 0.42% (+)
7. RIL: Current Price 1,263 | Price Change 4.21 (+) | 0.34% (+)
8. Axis Bank: Current Price 1,317 | Price Change 2.80 (+) | 0.22% (+)
9. Maruti Suzuki: Current Price 13,098 | Price Change 25.00 (+) | 0.20% (+)
10. NTPC: Current Price 351.85 | Price Change 0.21 (+) | 0.06% (+)

On Thursday, amid weak global cues, the benchmark index Nifty opened with a downside gap. However, it once again found support near the 61.8% Fibonacci retracement level of its previous up move, leading to a gradual recovery thereafter. Notably, in the last four trading sessions, the index has tested this support zone three times, highlighting its importance.

During the session, Nifty touched a high of 23327 but witnessed profit booking at higher levels, eventually closing at 23161, down 0.23%. On the daily chart, the index formed a small-bodied bullish candle with a long upper shadow, indicating selling pressure at elevated levels.

Technically, the index continues to trade below its key moving averages, which are trending downward. Additionally, the daily RSI is below the 40 mark and remains in a declining mode, reflecting underlying weakness.

Among Nifty constituents, M&M and ICICI Bank emerged as top gainers, while Infosys and Eternal were the major laggards. Sector-wise, Nifty Media and Nifty Private Bank outperformed, whereas Nifty IT and Nifty Chemicals ended as top losers.

Broader markets also remained subdued, with both Nifty Midcap 100 and Nifty Smallcap 100 closing in the red. Importantly, the Nifty Midcap 100 slipped below its 100-day EMA. Market breadth was clearly negative, with the advance-decline ratio skewed towards decliners, and 373 stocks in the Nifty 500 universe ending lower, says Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.

Stock market today: Nifty50 and BSE Sensex ended the day in red after a volatile trading session. Nifty50 closed at 23,161.60, down 53 points or 0.23%. BSE Sensex ended at 73,832.55, down 151 points or 0.20%.

Oil prices moved lower on Thursday after an initial surge driven by the latest escalation in tensions between the United States and Iran, as market participants reassessed the likelihood of any meaningful disruption to global crude supplies.

The decline came despite Tehran's announcement that the Strait of Hormuz had been closed following fresh US military strikes on Iranian targets. The situation was further intensified by President Donald Trump's warning that additional attacks could follow if efforts to secure a peace agreement fail.

However, sentiment was tempered by signs of diplomatic engagement. Three Iranian sources told Reuters that discussions aimed at reaching an initial understanding between Washington and Tehran have gained momentum, even as military actions continue. The talks reportedly include negotiations over a framework for releasing frozen Iranian assets.

At the same time, softer fuel consumption trends in China have helped limit the upward pressure on oil prices. Lower demand for gasoline and diesel, coupled with reduced crude imports, has acted as a counterweight to concerns stemming from the Iran-related developments.

By 0941 GMT, Brent crude futures were down 53 cents, or 0.6%, at $92.57 a barrel. US West Texas Intermediate (WTI) crude futures slipped 36 cents, or 0.4%, to $89.67 per barrel. Earlier in the session, both benchmarks had risen by more than $2.

Shares of major Indian IT firms came under pressure on Thursday, with sector leaders Infosys and HCLTech among the biggest drags on both the Sensex and Nifty. The decline, which reached as much as 3% for some stocks, was driven by investor concerns over accelerating inflation in the US, the possibility of interest rates remaining elevated for longer, and worries about the global demand outlook.

The Nifty IT index tumbled close to 3% to touch 27,519 before recovering a portion of its losses later in the session. By around 11:55 am, LTI Mindtree had slipped nearly 3%, while Infosys and HCLTech were each down about 2%. Mphasis, Tata Consultancy Services (TCS), and OFSS lost roughly 1% apiece. Wipro, Persistent Systems, Tech Mahindra, and Coforge were also trading in negative territory, though their declines remained relatively limited.

Consumer inflation in the US accelerated sharply in May, recording its fastest annual rise in three years. The increase was largely attributed to higher energy costs linked to tensions in the Middle East, according to Consumer Price Index (CPI) data released on Wednesday.

Figures from the Labor Department's Bureau of Labor Statistics showed that the CPI climbed 4.2% in the 12 months through May, representing the strongest annual increase since April 2023. This compared with a 3.8% rise recorded in April. On a month-on-month basis, prices advanced 0.5% after gaining 0.6% in the previous month.

With inflationary pressures intensifying, market participants have increased their expectations that the Federal Reserve could tighten monetary policy further. As cited by Reuters, the CME FedWatch tool indicates that traders are assigning a probability of more than 70% to a US interest rate hike by December.

The frontline indices opened with a downwards gap but recovered from their respective lows. Once again led by frontline banking counters. Banking stocks have strongly outperformed post the RBI monetary policy.

Coming back to Nifty, the zone of 23090-23110 will act as a crucial support for the index while the resistance lies in the zone of 23340-23360.

On the downside, if the index slips below the level of 23090 then the next support is placed in the zone of 22800-22700.

In an event of a surge above 23360, the index can experience an extension of the rally towards 23560.

On the options front, meaningful call writing witnessed across 23300 & 23400 strikes. On the put side, 23200 has a substantial open interest, followed by 23100 strike.

Nifty's Advance Decline Ratio is at 20:30.

Speaking of Sensex levels, support is at 73,600 while resistance is at 74,400.

After holding up remarkably well for months, retail participation in mutual funds is beginning to show signs of slowing. Amid heightened market volatility in May, driven largely by the conflict in West Asia, net inflows into equity mutual funds dropped to Rs 22,908 crore, the lowest level seen in more than a year. Compared with April's inflow of Rs 38,440 crore, this represented a steep 40% decline. According to data released by industry body Amfi, a month-on-month fall of this scale had not been witnessed in over three years.

Systematic Investment Plan (SIP) contributions also softened during the month, though the decline was relatively modest. Gross SIP inflows slipped to Rs 30,954 crore in May from Rs 31,115 crore in April and Rs 32,087 crore in March. The number of active SIP accounts also edged lower, falling by around 84,000 to a little over 9.6 crore.

Shashwat Singh, Fundamental Analyst at Bajaj Broking, said mutual fund activity cooled noticeably in May 2026. In a note, he observed that the slowdown was visible across most equity categories, including large-cap, mid-cap and small-cap funds, while flexi-cap and sectoral or thematic schemes recorded even sharper declines compared with the previous month.

Net inflows into flexi-cap funds fell to Rs 5,176 crore in May from Rs 10,148 crore in April. Sectoral and thematic funds also saw a significant moderation, attracting Rs 648 crore compared with Rs 1,949 crore in the preceding month.

According to Aditya Agarwal of Wealthy.in, extreme market fluctuations during May may have prompted investors who typically invest through periodic lump-sum allocations to postpone fresh commitments. He said experienced investors also appeared to be waiting for either more attractive valuations or a deeper market correction before deploying additional funds.

Agarwal added that the slowdown may also be linked to an increase in SIP pauses, a trend reflected in the decline in overall SIP collections during May. In his view, investors are not necessarily moving away from equities, but are instead delaying or temporarily holding back fresh allocations.

The debt fund segment witnessed substantial withdrawals as well. Amfi data showed net outflows of nearly Rs 97,000 crore across debt-oriented schemes. Umesh Sharma, CIO-Debt at The Wealth Company MF, attributed the redemptions largely to tighter liquidity conditions, which pushed short-term bond yields higher.

Wipro's much-anticipated Rs 15,000-crore share buyback commenced on Thursday. Under the offer, the IT services company plans to repurchase up to 60 crore shares from eligible investors at Rs 250 apiece, a price that is roughly 40% above the prevailing market rate.

The buyback window will remain open from June 11 to June 17, during which Wipro intends to acquire shares equivalent to about 5.7% of its paid-up equity capital. June 5 was set as the record date for determining eligibility, meaning only shareholders who held Wipro shares on that date can participate in the offer. Investors purchasing the stock after the record date are not eligible to tender shares.

For shareholders classified under the reserved category for small investors, the entitlement ratio has been fixed at 11 shares for every 56 shares held as of June 5. In the general category, eligible investors can tender 10 shares for every 197 shares held on the record date.

A share buyback is a corporate exercise in which a company purchases its own shares from existing shareholders, typically at a premium to the market price to encourage participation. Wipro has also disclosed that members of its promoter and promoter group intend to take part in the buyback. Collectively, they are eligible to tender up to 745 crore shares.

Shares of Honasa Consumer, which owns the Mamaearth brand, climbed 6% to an intraday high of Rs 438 on the BSE after investors responded positively to the company's ambitious revenue roadmap of Rs 5,500 crore by FY31.

The target translates into an estimated compound annual growth rate (CAGR) of around 18% between FY26 and FY31. Mamaearth is expected to remain the company's largest growth engine, with revenue projected to exceed Rs 2,000 crore by FY31. The Derma Co is also expected to play a significant role, with revenue likely to approach Rs 1,500 crore during the same period.

In its investor presentation, the company said it aims to build at least two additional brands with annual revenue potential of Rs 500 crore each. Apart from Mamaearth and The Derma Co, Honasa's portfolio includes brands such as Aqualogica, BBlunt, Dr Sheth's and Reginald Men.

The company is also targeting an EBITDA margin of 15%, supported by a planned expansion of 500 basis points. This improvement is expected to come from a stronger mix of high-margin categories and channels, along with benefits arising from scale and operational efficiencies.

The rejection trades that unfolded yesterday, after visiting the 23350-500 region pushed Nifty far down enough to lose the upside momentum. This has brought into play a drop towards 22962 or 22800 as feared earlier. Recovery attempts are most likely to be capped under 23257, and it would require a direct rise above 23350 to shrug off bears today, says Anand James, Chief Market Strategist, Geojit Investments Limited.

* Vascon Engineers: The company has received a LoI worth Rs 347.4 cr from the CPWD, Guwahati, for the demolition and redevelopment of RBI quarters in Guwahati – Positive in short term

* UCO Bank: The bank raises its 3-month and 6-month TBLR by 10 basis points to 5.40% and 5.60%, respectively - Neutral in short term

* Zee Entertainment Enterprises: Zee Entertainment has greenlit raising a minimum of Rs 2,300.0 cr through one or more phases/tranches to fund the strategic and business initiatives - Positive in medium term

* PPAP Automotive: The company partners with Hutchinson to develop advanced body sealing systems for India's passenger vehicle industry - Positive in medium term

* Deccan Gold: The company signs an earn-in pact for a Spanish Tungsten Project. The company will invest EUR 1.76 mn to progressively acquire a 51% stake in Logrosan Minera SL by Mar’2027. It will subsequently have the option to increase its ownership to 75%, subject to agreed milestones and an independent valuation - Positive in medium to long term

* Aurionpro Solutions: The company targets an FY27 push into modular and edge products and is actively rebuilding and repricing its banking software - Positive in medium term

* Kfin Tech: The company will invest USD 2.0 mn in its Singapore subsidiary and approves the transition of its GIFT City branch business to its IFSC arm - Positive in medium term

* Izmo: The company introduces India's first integrated silicon photonics packaging line to address fragmented workflows - Positive in long term
* PFC & REC: The government approves the mega-merger of REC into Power Finance Corporation - Positive in medium to long term

* Time Technoplast: The company will acquire a 76% stake in Systoverse Private for Rs. 25.0 cr - Positive in medium term

* Adani Enterprises: Its subsidiary completes the 100% acquisition of Portus Ventures - Positive in medium term

* Pine Labs: The company successfully completes the acquisition of Shopflo - Positive in medium term

"The off and on geopolitical drama in West Asia continues with the latest escalation in the conflict pushing Brent crude to $95 again. Inflation in the US has spiked to 4.2% indicating the possibility of rate hike by the Fed, irrespective of the Fed chief Kevin Warsh’s views on rates and what President Trump wants from the Fed. Further rise in US bond yields is likely and this will have negative fallout on US stocks. The weakness in US tech stocks since last Friday is likely to gather momentum. But as things stand now, this is unlikely to turn the FIIs into buyers in India as there is very low interest by FIIs in India now. The scenario may change if there is a deep correction in AI stocks. Therefore, we will have to wait and watch the trends in AI stocks.

The initiatives by the RBI and the government have stabilised the rupee to an extent. But this is not good enough to impart any enthusiasm in the market. The weakness might linger for sometime,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex opened in red on Thursday on negative global cues. At 9:16 AM, Nifty50 was trading at 23,091.90, down 123 points or 0.53%. BSE Sensex was at 73,575.17, down 408 points or 0.55%.

"Indian equity markets are expected to open on a mildly negative note, with Gift Nifty trading around 23,105, down by 75 points, indicating weak opening cues for domestic indices. Global sentiment remains cautious amid uncertainty surrounding key trade negotiations and mixed economic signals from major economies, while geopolitical developments and fluctuations in crude oil prices may keep investors watchful and contribute to near-term market volatility.

Nifty ended on a mildly negative note on 10th June 2026, closing at 23,214.95, down 27.15 points or 0.12%, amid profit booking near higher levels. The index touched an intraday high of 23,425.35 during the first half but failed to sustain gains and slipped towards an intraday low of 23,184.60 in the latter half of the session. Technically, the formation of a gravestone doji-like candlestick pattern indicates rejection from higher levels and reflects cautious market sentiment. The RSI stood at 39.01, while India VIX remained stable at 15.63. Immediate support is placed around the 23,000–23,050 zone, while resistance is seen near the 23,450–23,500 range.

Bank Nifty ended on a mildly negative note on 10th June 2026, closing at 55,100.30, down 94.20 points or 0.17%, as profit booking emerged near higher levels. The index advanced to an intraday high of 55,555.85 during the first half but failed to sustain gains and slipped towards an intraday low of 55,026.15 by the close. Technically, the formation of a gravestone dojicandlestick pattern indicates rejection from higher levels and reflects indecisiveness after the recent recovery. The RSI stood at 54.66, suggesting momentum remains relatively stronger despite signs of short-term exhaustion. Immediate support is placed around the 54,500–54,600 zone, while resistance is seen near the 55,500–55,600 range.

Foreign Institutional Investors (FIIs) remained net sellers on 10th June 2026, offloading equities worth ₹2,125 crore, reflecting continued caution among overseas investors. However, Domestic Institutional Investors (DIIs) continued to provide strong support to the market and remained net buyers with equity purchases worth ₹3,124 crore, helping absorb foreign selling pressure and maintain stability in overall market sentiment.

The market appears to be at a crucial juncture, with repeated failure near higher levels indicating a lack of strong bullish conviction. Persistent foreign outflows and weak broader participation may continue to keep sentiment subdued in the near term. However, domestic institutional support and stability around key support zones could help limit downside pressure. A decisive breakout or breakdown from the current range is likely to determine the market’s next directional trend,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.

Bank Nifty, after witnessing a strong rally in recent sessions, experienced profit booking at higher levels and formed a negative candle on the daily chart. Despite the pullback, the index continues to trade above its 20-day EMA, suggesting that the broader trend remains constructive.

Technically, the index has formed a long upper-shadow Doji candle, indicating selling pressure near higher levels and some exhaustion in bullish momentum. However, the index continues to hold above the falling trendline breakout zone, which was breached earlier with a strong bullish candle. This suggests that the recent decline is largely a profit-booking move rather than a reversal of the prevailing trend.

Bank Nifty witnessed profit booking from the neckline of the the double bottom breakout area of 55,500-55,600. A decisive move above this level would confirm renewed buying momentum and open the path towards 56,000 and 56,500 levels. On the downside, immediate support is positioned at 54,000–53,800 being the low of the current week.

Markets are stabilizing, with sentiment gradually improving as crude oil prices remain contained. Investor confidence has strengthened amid hopes of a resolution to the Israel-Iran conflict. Brent crude fell to ~$91/bbl, providing relief on the inflation front and supporting domestic consumption sentiment. Nifty closed nearly flat at -0.1%, while Midcap 100 and Smallcap 100 slipped 1.5% and 1.3% respectively. FMCG and banking stocks provided key support to the market, with FMCG gaining 1.1%. Easing crude prices improved the outlook for domestic consumption plays, driving renewed investor interest in defensive sectors. Banking stocks continued to remain in focus after the RBI released operational details of its concessional forex swap facilities aimed at attracting overseas capital inflows — a move seen as supportive of liquidity and broader sentiment toward the financial sector, says Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Asian equities retreated on Thursday as investors reacted to a sharp decline on Wall Street following stronger-than-anticipated US inflation data. Fresh US military action against Iran also pushed oil prices higher, adding to market unease.

MSCI's broad Asia-Pacific index excluding Japan fell 0.9%, with South Korea's Kospi leading the decline after dropping 3%. S&P 500 e-mini futures were also lower by 0.3%.

Market sentiment deteriorated further after the US military confirmed a new wave of strikes on multiple targets in Iran on Wednesday. The operation came just hours after President Donald Trump warned of additional attacks if efforts to secure a peace agreement failed. In response, Iran announced the closure of the Strait of Hormuz. Following the developments, Brent crude advanced 2% to $94.93 per barrel during Asian trading hours.

Strategists believe that Asian markets which have posted the strongest gains over the past two months could remain under pressure, as investors reassess whether the lofty earnings growth expectations that fuelled the rally are sustainable.

Rupal Agarwal, Asia Quant Strategist at Bernstein in Singapore, said elevated valuations combined with highly optimistic earnings assumptions have left markets such as South Korea, Taiwan and the broader Asian technology sector vulnerable.

She noted that reducing exposure to these segments may be the most sensible approach at present, adding that any renewed escalation in geopolitical tensions could accelerate the ongoing pullback.

Crude oil prices surged by more than $2 a barrel on Thursday after Iran announced the closure of the Strait of Hormuz, a vital global energy transit route, in response to fresh US military strikes.

Brent crude futures advanced $2.30, or 2.47%, to $95.40 per barrel, while US West Texas Intermediate (WTI) crude gained $2.60, or 2.89%, to reach $92.63 per barrel. Earlier in the trading session, US crude had risen by more than $3.

Iran's highest joint military command declared that the Strait of Hormuz would be shut to oil tankers as well as commercial shipping vessels, warning that any ship attempting to pass through the waterway would be targeted.

However, the US military said on Wednesday via X that commercial traffic was continuing to move through the strait in both directions.

The US military also denied reports carried by Iranian state media that American naval vessels near the strategic waterway had come under missile and drone attacks, stating that no US warships had been struck.

According to US officials, additional military operations targeting multiple locations in Iran began at 5:15 p.m. EDT (21:15 GMT) on Wednesday. The strikes marked the latest escalation in a growing cycle of hostilities that threatens to undo a fragile ceasefire agreed upon in early April.

The prolonged disruption around the Strait of Hormuz, a route that normally handles roughly one-fifth of global oil and gas shipments, has continued to keep energy markets on edge and crude prices elevated.

Nifty witnessed a volatile trading session and, after registering an intraday high of 23,425, surrendered its early gains to close marginally lower by 0.12%. The decline was accompanied by weakness in the broader market, reflecting profit booking at higher levels.
From a technical perspective, the index formed a long upper-shadow candle on the daily chart, indicating selling pressure near higher levels and reaffirming the resistance zone of 23,450–23,500. 



Going ahead, a decisive move and sustained close above 23,425 would signal a breakout from the current consolidation range and open the door for an advance towards 23,550 and subsequently 23,830 level, which coincides with the confluence of the 20-day EMA and the upper band of the channel. However, failure to surpass the immediate resistance zone is likely to keep the index range-bound. In such a scenario, Nifty may continue to consolidate within the 23,100–23,400 range until a directional breakout emerges.