Stock Market Highlights: Nifty Ends Lower For Second Day; Sensex Snaps Two-Day Gain Amid Volatile Session

The Indian rupee weakened at the close of trade, declining 0.5% against the US dollar.

• The currency ended at 95.76 per dollar compared with 95.27 in the previous session.

Benchmark indices closed lower for a second straight session, with broader markets underperforming.

• Infosys and HCL Tech were among the top losers on Nifty, both falling over 2%.
• Nifty Midcap 150 declined nearly 1%, while Nifty Smallcap 250 fell about 0.7%.
• All sectors ended lower except Bank and Pharma, with Nifty Pharma gaining over 0.5%.
• Nifty IT dropped around 1.5% and extended its losing streak to seven sessions.

The Shipping Ministry said three vessels with Indian sailors on board have been attacked since June 8.

• A fire was reported on vessel Marivex on June 8, with all 24 Indian crew members rescued safely.
• On June 10, vessel MT Settebello was attacked, leading to the death of three Indian sailors, while 21 were evacuated.
• On June 11, MT Jalveer was attacked, with all 20 Indian seafarers reported safe.

Benchmark indices closed in the red, extending losses for a second straight session.

• Nifty 50 fell 0.23% to 23,161.60, down 53.35 points.
• Sensex declined 0.20% to 73,832.55, losing 150.63 points.

FMCG stocks traded mostly lower, with broad-based declines across key names in the sector.

• Emami fell 2.53%, while Godrej Consumer Products declined 1.79%.
• Hindustan Unilever dropped 1.26%, and Dabur India and Nestle were down 1.17% each.
• Tata Consumer Products traded marginally higher, up 0.03%.

Banking stocks traded mixed, with private lenders gaining while PSU banks declined.

• ICICI Bank rose 1.92%, while Kotak Mahindra Bank gained 1.37%.
• AU Small Finance Bank, IndusInd Bank and Axis Bank also traded higher.
• Canara Bank fell 1.52%, while Punjab National Bank and Bank of Baroda declined 0.86% and 0.72%, respectively.
• Federal Bank and State Bank of India also traded lower.

US equity futures traded higher, indicating potential gains on Wall Street.

• S&P 500 futures rose 0.72%, while Nasdaq 100 futures gained 1.1%.
• Dow Jones Industrial Average futures advanced 0.64%.

IT stocks remained under pressure in trade, with large-cap names posting declines.

• Infosys fell 2.59%, the biggest drag among IT stocks.
• HCL Technologies declined 2.15%, while Oracle Financial Services dropped 2.10%.
• Persistent Systems and Tech Mahindra also traded lower, down 1.87% and 1.20%, respectively.

India’s economic growth is expected to slow to 6.6% in FY27 from 7.7% in FY26 due to weaker consumption and investment, BMI said in a report cited by PTI.

• BMI said higher inflation and disruptions linked to the West Asia conflict could weigh on consumption and trade.
• It expects investment growth to slow, while the impact of last year’s GST reforms on consumption is likely to fade.
• The forecast aligns with the RBI’s estimate, with inflation projected at 5.3% for FY27.

Select stocks saw higher trading volumes along with price moves during the session.

• Indoco Remedies rose over 15%, with volumes at 15 times the 20-day average, marking its biggest single-day gain since February 2026.
• Motisons Jewellers gained over 10% and extended its rally to a third straight day, with volumes 15 times the 20-day average.
• Unichem Laboratories also gained over 10% for a third consecutive day, with volumes at 17 times the 20-day average and hitting a nine-month high.

Shares of Power Finance Corporation and REC saw selling pressure following the government’s approval of their merger.

• Investors booked profits after recent gains, while some positions were unwound in both stocks.
• The share swap ratio is yet to be determined, with valuers to decide the final terms.
• Market participants are awaiting details on the merger structure, synergies and timeline.

European markets traded higher, with most major indices posting gains in the session.

• Germany’s DAX edged up 0.01%, while the UK’s FTSE gained 0.55%.
• France’s CAC rose 0.38% and the STOXX 600 index was up 0.49%.
• Spain’s IBEX 35 climbed 0.73%, while Italy’s FTSE MIB advanced 0.91%.

Oil prices declined after earlier gains as traders assessed the latest US-Iran developments.

• WTI July futures fell 0.5% to $89.57 per barrel.
• Brent August futures declined 0.67% to $92.48 per barrel.

Markets saw mixed trends in the session, with buying in pharma stocks and selling pressure in IT names as indices pared gains.

• Nifty and Nifty Bank eased after recovering earlier, with options data indicating consolidation.
• Private banks led index moves, while midcap and smallcap stocks underperformed benchmarks.
• The rupee weakened towards 96 against the US dollar, with global cues remaining volatile.

Benchmark indices traded in a narrow range after swinging between gains and losses during the session.

• Nifty 50 rose 0.10% to 23,237.85, after falling to 23,081 and later rising to 23,327.45.
• Sensex gained 0.18% to 74,116.74, after dropping to 73,518.75 and climbing to 74,394.34 earlier.
• Markets remained volatile with limited gains after recovering from early losses.

Prime Securities said its group firm has launched a real estate-focused alternative investment fund targeting up to Rs 1,000 crore, PTI reported.

• The Category II AIF has a base corpus of Rs 750 crore with a Rs 250 crore greenshoe option.
• The fund will invest in structured credit for under-construction projects across major cities including Mumbai, NCR, Bengaluru and Chennai.
• It will focus on projects backed by developers and aims to generate annual returns of 18–20%.

An Iranian cargo barge was hit by a projectile in the Gulf of Oman, according to reports cited by Al Jazeera.

• The vessel, carrying goods from Oman, was struck about five nautical miles off Khasab.
• All five crew members were rescued by passing vessels and taken to Oman.
• The Indian embassy in Oman said it is monitoring the situation and coordinating with local authorities.

India and the US are exploring a possible meeting between Prime Minister Narendra Modi and US President Donald Trump on the sidelines of the G7 summit in France, PTI reported.

• Officials said the meeting is not confirmed and will depend on schedules of both leaders.
• Modi is scheduled to visit France and Slovakia from June 14, with the G7 summit set for June 15–17.
• The discussions come as both countries look to rebuild ties after recent tensions.

Realty stocks traded mostly lower, with limited gains seen across the pack.

• Macrotech Developers rose 0.35%, the only major gainer in the segment.
• Sobha fell 1.62%, while Godrej Properties declined 1.52% and Phoenix Mills dropped 1.39%.
• Anant Raj and Prestige Estate Projects also traded lower, falling 1.36% and 1.17%, respectively.

PSU bank stocks traded lower, with most names in the sector under pressure while State Bank of India moved higher.

• State Bank of India rose 0.29%, bucking the broader decline in PSU banks.
• Bank of India fell 2.57%, while Bank of Baroda declined 2.56%.
• Indian Overseas Bank and UCO Bank dropped 2.47% and 2.41%, respectively, and Central Bank of India was down 2.02%.

Sectoral performance remained mixed, with pharma and banking stocks leading gains while defence and IT indices declined.

• Nifty Pharma rose 1.14%, followed by Bank and Financial Services indices up 0.67% and 0.55%.
• Nifty Auto, FMCG and IT traded near flat with marginal gains.
• Nifty Defence fell 1.63%, while Nifty IT and PSU Bank declined around 1%.

Benchmark indices recovered sharply from early losses and moved higher in intraday trade.

• Nifty 50 rose 0.30% to 23,285.60 after falling to 23,081 earlier.
• Sensex gained 0.43% to 74,300.59, up over 800 points from its intraday low of 73,518.75.

Shree Renuka Sugars said recent government measures on ethanol are a step in the right direction, according to Executive Director Atul Chaturvedi.

• The company said India will require nearly 10 billion litres of ethanol but sees challenges in feedstock availability rather than demand.
• It said there is no immediate need for capacity expansion under current conditions.
• Chaturvedi added that sugar prices may need to be raised to support the sector.

Oil India said it has signed a collaboration framework with Canada’s Petroleum Technology Research Centre (PTRC) for clean energy technologies.

• The agreement focuses on cooperation in clean energy technology development.
• PTRC is a research body working in petroleum and energy technologies, the company said in an exchange filing.

Jewellery stocks showed mixed moves, with strong gains in select names while several others traded lower.

• Motisons rose 13.67%, while Renaissance Global gained 8.80% and Vaibhav Global advanced 1.48%.
• Titan Company edged up 0.57% during the session.
• Thangamayil Jewellery fell 2.72%, while Tribhovandas Bhimji Zaveri and Kalyan Jewellers declined 1.44% and 1.36%, respectively.

Benchmark indices recovered from early losses and traded near flat after a weak start.

• Nifty 50 was marginally higher at 23,215.20 after earlier falling to 23,081.
• Sensex rose 0.05% to 74,017.57, rebounding from a low of 73,518.75.

Bhavin Lakhpatwala is likely to join RBL Bank as Chief Financial Officer, according to sources.

• Lakhpatwala previously served as head of strategy at HDFC Bank.
• He also handled investor relations and business finance at the bank.
• The development follows the resignation of former CFO Buvanesh Tharashankar in December 2025.

Landmark Cars said insurance premiums for electric vehicles are about 40% higher than internal combustion engine vehicles in the US, according to comments by Sanjay Thakker.

• The company said 21% of its volumes now come from EVs, with demand rising amid fuel uncertainty.
• It added that around half of its service revenue comes from accident repairs, while depreciation levels remain high but may ease over time.
• Landmark Cars said its expansion phase is over, after adding brands such as MG and BYD, and growth earlier driven partly by acquisitions.

The government has extended excise duty waiver on ethanol-petrol blending beyond E20 to higher blends including E22, E25, E27 and E30.

• The move aligns with updated BIS standards and is a step towards enabling higher ethanol blending levels.
• The government said this does not indicate an immediate rollout of higher blends.
• Any implementation will follow testing and consultations before a formal rollout.

Quant Mutual Fund’s Sandeep Tandon said he remains negative on the IT sector and expects earnings trends in the first half of FY27 to remain subdued.

• He said RBI and government actions could support foreign inflows over time.
• Tandon said midcaps may outperform largecaps and domestic macro conditions are not as weak as perceived.
• He added that energy stocks have recovered in recent months, while global uncertainty is likely to influence market trends.

The government is exploring measures to better utilise domestic gold holdings and reduce dependence on imports, according to official sources.

• The Centre is engaging with banks to strengthen the gold lending ecosystem and unlock domestic gold stocks.
• It is reviewing gold loan trends and gold held by businesses to improve supply efficiency.
• Discussions are ongoing and a framework may be introduced soon, sources said.

Realty stocks traded mostly lower, with only a few gains among the broader set.

• Godrej Properties fell 0.79%, while Phoenix Mills declined 0.77% and Sobha dropped 0.71%.
• SignatureGlobal India and Oberoi Realty were also lower by 0.51% and 0.38%, respectively.
• Brigade Enterprises gained 0.27%, while Macrotech Developers rose 0.14%.

Banking stocks showed mixed trends, with private lenders gaining while PSU banks traded lower.

• ICICI Bank rose 1.47%, followed by AU Small Finance Bank up 0.82%, IndusInd Bank up 0.62% and Axis Bank up 0.53%.
• Kotak Mahindra Bank also gained 0.45% during the session.
• Bank of Baroda fell 1.52%, while Punjab National Bank declined 0.68% and Canara Bank dropped 0.64%.
• HDFC Bank and Federal Bank also traded lower, down 0.62% and 0.48%, respectively.

F&O data showed fresh long positions in select energy and industrial stocks, while IT and power finance names saw short activity.

• Hitachi Energy and Vedanta saw long build-up, while Kaynes Technology and Indian Bank saw short covering.
• Mphasis and Tech Mahindra saw long unwinding.
• Oracle Financial Services Software and Power Finance Corporation witnessed short build-up.

Reliance Industries shares traded at Rs 1,262, marking the lowest level since April 17, 2025.

• The stock has declined 13% over the past 12 months.
• It is down 19% so far this year.

IT stocks traded lower, with broad-based declines across key names during the session.

• Oracle Financial Services fell 3.14%, while HCL Technologies declined 3.05%.
• Infosys dropped 2.63%, and Persistent Systems fell 2.01%.
• Coforge also traded lower, down 1.76%.

Several stocks remained active in trade, with gains led by Blue Jet Healthcare, Shipping Corporation of India and Aegis Logistics, while IT names declined.

• Blue Jet Healthcare rose 5.80%, while Shipping Corporation gained 3.32% and Aegis Logistics advanced 3.19%.
• Zee Entertainment, Syrma SGS and Apar Industries also posted gains of around 2%.
• Infosys fell 2.91%, while HCL Technologies, Zensar Tech and Oracle Financial Services dropped over 3%.
• Persistent Systems and Inox India declined around 3.7%, while Himachal Futuristic Communications fell 5%.

Sectoral indices traded mostly lower, with broad-based weakness across IT, auto and realty stocks.

• Nifty IT fell 2.42%, the biggest drag, followed by Auto down 0.91% and Realty lower by 0.65%.
• PSU Bank, Private Bank and FMCG indices also declined between 0.4% and 0.6%.
• Pharma gained 0.37%, while Media rose 0.61%, standing out as the only sectors in green.

Block trades were reported in multiple stocks, with large volumes exchanged during the session, Bloomberg reported.

• ICICI Bank saw 1.2 million shares change hands in a block deal.
• Lenskart saw 34.4 million shares traded, accounting for 1.98% of its equity.
• GNG Electronics saw three block deals involving 3.94% of its equity.

Buyers and sellers were not disclosed.

Indian benchmark indices opened lower, with both Nifty 50 and Sensex declining in early trade.

• Nifty 50 fell 0.6% to 23,081.
• Sensex dropped 0.63% or 464 points to 73,518.75.
• Infosys and HDFC Bank were among the top losers at the open.

The Indian rupee opened weaker against the US dollar, falling by 38 paise to 95.65.

JP Morgan maintained Neutral on Jubilant Foodworks with a target price of Rs 474 after a management meeting. Macquarie initiated coverage on Siemens Energy with an Outperform rating and a target price of Rs 4,190.

• JP Morgan said Jubilant Foodworks can deliver 5–7% like-for-like growth, with focus on execution and store expansion.
• The brokerage expects FY27 same-store sales growth to be more price-linked and sees standalone revenue growth of 15%.
• Macquarie said Siemens Energy has structural tailwinds from electrification, decarbonisation and grid investments.
• It expects a 30% three-year EPS CAGR and return ratios above 25%, backed by a strong order book.

Macquarie initiated coverage on CG Power and Industrial Solutions with an Outperform rating and a target price of Rs 1,090.

• The brokerage said the company has multiple growth drivers across grid, industrial equipment and railways.
• It said CG Power aims to support India’s high-voltage grid build-out and has leadership in low-voltage motors.
• Macquarie expects a 28% CAGR over FY26–FY29, backed by a strong order book and returns above 20%.

Citi cut its Nifty target to 26,000 from 27,000 as part of its India equity strategy update.

• The brokerage is Overweight on financials, telecom, healthcare, utilities and defence.
• It is Underweight on IT services, staples and metals.
• Citi added Hitachi Energy to its preferred list.

Macquarie initiated coverage on Adani Energy Solutions with a Neutral rating and a target price of Rs 1,450.

• The brokerage said India’s power sector is undergoing a regulatory and operational reset.
• It said a transmission capex cycle and improving discom health are supportive for the company.
• Jefferies named Adani Energy Solutions among its top power picks, along with JSW Energy and NTPC.

JNK India and Ola Electric Mobility have been shortlisted under the long-term ASM framework.

• Grand Oak Canyons Distillery, GRM Overseas and Supriya Lifescience have been shortlisted under the short-term ASM framework.
• Kernex Microsystems and V Marc will be excluded from the ASM framework.

• Cemindia Projects and Fujiyama Power Systems had their price bands changed to 5% from 10%.
• Grand Oak Canyons Distillery had its price band changed to 10% from 20%.

Promoter group entities in Responsive Industries and Paisalo Digital revoked share pledges, while promoters in NIIT Learning Systems, NCC and Gandhar Oil Refinery acquired shares.

• Fairpoint Tradecom LLP, part of the Responsive Industries promoter group, revoked pledges on 16.4 lakh shares.
• Equilibrated Venture Cflow, part of the Paisalo Digital promoter group, revoked pledges on 25 lakh shares.
• NIIT Learning Systems’ promoter group trusts acquired 37,500 shares each, while NCC promoter Sirisha Projects bought 3.46 lakh shares.
• Gandhar Oil Refinery promoter and director Ramesh Babulal Parekh acquired 50,000 shares.

JNK India and Ola Electric Mobility have been shortlisted under the long-term ASM framework.

• Grand Oak Canyons Distillery, GRM Overseas and Supriya Lifescience have been shortlisted under the short-term ASM framework.
• Kernex Microsystems and V Marc will be excluded from the ASM framework.

Several stocks saw bulk and block deals, with institutional investors and funds buying or selling shares.

• In Meesho, FID FDI 2117 LLC sold 2.59 crore shares at Rs 165.18 each, while FID FDI 312 LLC sold 33.89 crore shares at Rs 165.21 each.
• In Sapphire Foods, the Government of Singapore sold 21.80 lakh shares at Rs 180.46 each, while T. Rowe Price International Discovery Fund bought 24.62 lakh shares at Rs 179.97 each.
• Goldman Sachs Funds bought 19.41 lakh shares of CMR Green Technologies at Rs 256.64 each.
• In GRM Overseas, R G Family Trust and Samsung India Securities Master Investment Trust Equity sold shares, while Ravi Goyal (HUF) bought 15 lakh shares.
• Kurjibhai Premjibhai Rupareliya bought 3.58 crore shares of Ease My Trip at Rs 8.84 each.

Several companies announced updates before trade on Thursday, including rate changes, acquisitions, management changes and fundraising plans.

• UCO Bank raised its three-month and six-month TBLR by 10 basis points to 5.40% and 5.60%, respectively.
• Bank of Baroda raised its one-month, three-month and six-month MCLR by 5 basis points, while Canara Bank will raise its one-month and three-month MCLR by 5 basis points from June 12.
• PFC and REC will be in focus after the government approved the merger of REC into Power Finance Corporation.
• Power Grid appointed Venkata S V as CFO, approved a Rs 485 crore SCADA system upgrade and secured an 80 billion yen loan facility.
• IIFL Finance approved the allotment of $500 million fixed-rate senior secured notes due 2029.
• Hindalco Industries said its subsidiary Novelis restarted the Oswego Hot Mill.

Asian markets were mixed after paring steeper losses seen earlier in the day, with Hong Kong and South Korea moving into gains.

• Hong Kong’s Hang Seng rose 0.20%, while South Korea’s Kospi gained 0.34% after falling 4.1% earlier.
• Japan’s Nikkei 225 was down 0.37%, compared with a 2.3% decline earlier in the session.
• Australia’s S&P/ASX 200 fell 0.30%, while Shanghai Composite slipped 0.02%.

US Central Command said it completed strikes in Iran on Wednesday at President Donald Trump’s direction.

• CENTCOM said the strikes ended at 9:04 p.m. ET and targeted Iranian military surveillance, communication and air defence sites.
• It said US forces struck targets that it described as a threat to American forces and commercial ships in regional waters.
• CENTCOM said the strikes began at 5:15 p.m. ET in response to what it called Iran’s continued aggression.

• US Central Command said its forces launched more “self-defence strikes” against Iran late Wednesday, according to a post on X cited by CNBC.
• The strikes were carried out at the direction of President Donald Trump, according to the post.

Oil prices rose on Thursday after the US launched another round of military strikes against Iran, raising concerns over prolonged disruption to energy supplies.

• WTI July futures rose 2.94% to $92.68 per barrel.
• Brent August futures gained 2.52% to $95.45 per barrel.

Asia-Pacific markets opened lower on Thursday after the US launched additional attacks on Iran, pushing oil prices higher and weighing on investor sentiment.

• South Korea’s Kospi fell 4.1% in early trade, while Japan’s Nikkei 225 declined 2.3%.
• Australia’s S&P/ASX 200 slipped 0.97%.
• US equity futures also traded lower, with S&P 500 futures down 0.4% and Nasdaq 100 futures lower by 0.6%.

• GIFT Nifty traded at 23,186, compared with Wednesday’s Nifty 50 close of 23,214.95.
• The early indicator was 28.95 points below the previous close.