Stock Market News Highlights: Nifty Halts Two-Day Losing Run Amid Weekly F&O Expiry, Sensex Gains Nearly 400 Points

• Indian equity benchmarks traded higher, with the Nifty 50 up 119.10 points, or 0.52%, at 23,242.10 amid weekly F&O expiry.
• The Sensex also halted a two-day losing streak, rising 394.50 points, or 0.54%, to 73,918.76.

• Adani Green Energy saw 1.3% of its equity change hands in a block trade.
• The buyers and sellers were not known immediately.

Mahindra & Mahindra said total production rose 11% year-on-year to 1.01 lakh units in May, according to an exchange filing.

• Chief Economic Adviser V Anantha Nageswaran said unemployment has picked up slightly compared with 2025, but the overall job market remains healthy.
• He said global uncertainties could affect hiring, though the impact has not been significant so far. Nageswaran said AI’s impact on jobs is unlikely to be immediate and may play out over the next few years.

• Chief Economic Adviser V Anantha Nageswaran said meeting the 4.3% fiscal deficit target this year will be challenging.
• He said real growth will be lower, while nominal growth could be closer to 12%. Government spending will depend on several factors, including international fertiliser prices, he said.

>>

• Indian equity benchmarks held gains, with the Nifty 50 trading 121.45 points, or 0.53%, higher at 23,244.45.
• The Sensex rose 419.95 points, or 0.57%, to 73,944.21. Earlier in the day, the Nifty rose as much as 0.6% to 23,259.45, while the Sensex gained as much as 511 points to 74,035.

• Chief Economic Adviser V Anantha Nageswaran said elevated crude oil prices are already having an impact on the economy.
• He said the rise in oil prices is one reason the RBI raised its headline inflation forecast and lowered its growth projection. Nageswaran said oil prices staying at current levels in the second half of the year would affect both growth and inflation.

• Chief Economic Adviser V Anantha Nageswaran said the rupee is undervalued at current levels and attractive from a fundamentals perspective.
• He said short-term factors are affecting the currency, as financial markets have taken a common view that Asian economies are large energy importers from the Persian Gulf. Nageswaran said India’s fundamentals remain solid and the rupee is competitive on that basis.

• Chief Economic Adviser V Anantha Nageswaran said India’s FY27 growth may be around the RBI’s 6.6% projection, with downside risks due to global uncertainties.
• He said 7% growth looks like a stretch for this fiscal, after the West Asia crisis clouded the outlook. Nageswaran said higher crude oil prices are already affecting growth and inflation, and that the rupee is undervalued and competitive from a fundamentals perspective.

• Hexagon Nutrition’s IPO was subscribed 32.92 times on the third day of bidding as of 2:18 p.m.
• The non-institutional investor portion was subscribed 100.11 times, while retail subscription stood at 20.74 times. The qualified institutional buyer portion was subscribed 3.83 times.

• GSK agreed to acquire US-based Nuvalent for $10.6 billion in an all-cash deal, valuing the company at about $124 per share.
• The deal is aimed at strengthening GSK’s lung cancer pipeline. GSK said the acquisition is expected to support revenue growth from 2027, with no change to its 2026 full-year guidance.

• The Supreme Court set aside earlier NCLT and NCLAT orders admitting a shareholder class action against Jindal Poly Films, according to a court order.
• The court referred the dispute to arbitration and appointed former Chief Justice Manindra Mohan Shrivastava as sole arbitrator. Minority shareholders had alleged losses of over Rs 2,500 crore from related-party transactions.

• Swara Baby Products, backed by FirstCry parent Brainbees Solutions, plans to file draft papers with SEBI this month for an IPO of up to Rs 1,000 crore, PTI reported, citing people familiar with the matter.
• The proposed issue is expected to include a fresh issue of shares and an offer for sale by existing shareholders. JM Financial and Avendus Capital have been appointed as book-running lead managers for the IPO.

• Corporate India is expected to scale back hiring plans in the July-September quarter amid global uncertainties, PTI reported, citing ManpowerGroup’s Employment Outlook Survey.
• The Net Employment Outlook for Q3 2026 stood at 48%, down 20 points from the previous quarter but up 6 points from Q3 2025. The survey covered more than 3,100 employers across India between April 1 and April 30.

• The Bombay High Court restrained Mumbai Pune Expressway from recovering Rs 110 crore from IRB and barred encashment of bank guarantees till the final trial outcome, according to a court order.
• The court said IRB need not pay an amount already settled as compensation. The dispute relates to Covid-era compensation agreed in April 2020, which MPEL later claimed was an overpayment.

>>

• Indian equity benchmarks pared some gains after rising in early trade. The Nifty 50 traded 79.90 points, or 0.35%, higher at 23,202.90, while the Sensex was up 226.07 points, or 0.31%, at 73,750.33.
• Earlier in the day, the Nifty rose as much as 0.6% to 23,259.45, while the Sensex gained as much as 511 points to 74,035.

>>

>>

>>

• Ace investor Shankar Sharma said Indian IT margins may hold up because of the rupee.
• He said if the rupee stabilises, next year’s numbers may not look good. Sharma also said IT may not be a strong trade and could become a utility segment of the global technology ecosystem.
   

• Ace investor Shankar Sharma said SIPs have been a good product for major selling groups, but not for investors. He said mega IPOs should be delayed, referring to Zepto, and that moderation in the IPO market is a desirable outcome in the current bear market.
• Sharma said he is not investing in Anthropic, Nvidia or OpenAI, while holding TSMC. He said semiconductors have been a key driver of his profits and sees opportunities in power equipment, cabling, optical fibres and data centre-related stocks in India.

• Ace investor Shankar Sharma said Indian bond yields are not attractive enough for dollar investors, with 7% yields offering limited incentive.
• He said Indian equity markets are too expensive and questioned the valuation case for quick commerce businesses. Sharma also said equity markets are better suited to high-income countries and that India has had only one solid bull market in 36 years.

• Bajaj Housing Finance saw 32.9 lakh shares change hands in a block trade.
• The buyers and sellers were not known immediately.

• Ace investor Shankar Sharma said the RBI can manage the bond market, but currency and equities are more global in nature.
• He said borrowed money should not be used to defend the currency, as the cost is too high. Sharma also said FIIs tend to return after a major market fall, while mutual fund inflows may slow organically over the next 12 months.

• Infosys led the fresh shorts category with futures prices declining while open interest increased.
• The positioning indicates traders added new bearish bets in the stock ahead of the weekly expiry session.

• Infosys, TCS and LTIMindtree featured among the major stocks on the fresh shorts screen, with futures prices declining and open interest increasing.
• The concentration of fresh short positions across technology stocks points to continued bearish sentiment towards the sector.

• Paytm led the short-covering category with futures prices rising while open interest declined.
• The positioning suggests traders were closing bearish bets in the stock ahead of expiry.

• Oil India, ONGC and GAIL were among the major names appearing on the liquidation screen.
• The concentration suggests traders reduced exposure across several energy counters during the session.

• Coal India featured prominently on the liquidation screen as futures prices declined alongside a reduction in open interest.
• The pattern is generally associated with long unwinding, where traders close existing bullish positions.

• BPCL, UPL and Hindustan Petroleum appeared among stocks showing gains in futures prices along with higher open interest.
• The trend suggests traders are building fresh bullish positions in select energy names.

• Vedanta led the accumulation category with futures prices rising alongside a 15.79% increase in open interest.
• The combination of rising prices and rising open interest is typically associated with fresh long positions entering the stock.

• HDFC Bank's total derivative open interest has increased 33.21% since the previous expiry to more than 9 lakh contracts.
• The stock remains among the largest contributors to derivatives turnover within the banking space.

• Glenmark recorded an 822.67% increase in Put open interest since the previous expiry.
• The sharp increase ranks among the largest changes across the F&O universe and points to heightened options activity.

• TCS has declined more than 30% since the previous expiry while total open interest has increased 76.67%.
• The combination suggests traders remain actively engaged in the stock despite the correction.

• PI Industries has recorded a 196.85% increase in total derivative open interest since the last expiry.
• The stock remains among the most actively positioned counters in the F&O segment.

Wipro's total derivative open interest has jumped 204.88% since the previous expiry, while the stock has fallen more than 27%.

The divergence highlights elevated derivatives activity as traders continue to position around the stock's weakness.

The strongest Put additions and sizeable outstanding Put positions are concentrated around the 54,500 strike.

The activity suggests traders are treating the level as a near-term floor, making it one of the most important support zones heading into expiry.

• The 54,700 strike recorded one of the largest Call additions in the latest weekly series. Fresh Call writing was also visible at 54,800 and 54,900 strikes.
• The build-up indicates traders expect resistance to emerge around the 54,700-55,000 zone during the weekly expiry session.

• Bank Nifty witnessed the largest addition in Put open interest at the 54,500 strike, where traders added more than 1.3 lakh contracts.
• Fresh Put writing was also visible at 54,000, 54,700 and 54,800 strikes, indicating traders are building support levels across the lower end of the options chain.

• The highest Put open interest in the weekly series remains at the 23,200 strike, where outstanding positions exceed 24 lakh contracts.
• The concentration reinforces the importance of 23,200 as the primary support zone being monitored by derivatives traders.

• Among all weekly strikes, the highest Call open interest remains concentrated at 23,300 with more than 34 lakh contracts outstanding.
• The level has emerged as the key resistance point for expiry-day traders. A sustained move above the strike could force adjustments from Call writers.

• Nifty Put open interest has climbed 207.61% since the previous expiry, reaching nearly 69 lakh contracts.
• The increase highlights growing hedging activity and elevated participation in downside protection strategies.

The highest Put additions were seen at 23,200, while the largest Call additions emerged at 23,300. Outstanding open interest also remains elevated at both strikes.

The positioning suggests the weekly expiry could be centred around the 23,200-23,300 range, with traders defending both levels aggressively.

• Call open interest on Nifty has increased 282.24% since the previous expiry cycle, rising to nearly 88 lakh contracts.
• The jump indicates substantial fresh positioning by traders amid heightened volatility in the index.

• The 23,300 strike saw the largest increase in Call open interest, with fresh additions nearing 25 lakh contracts. Call writers were also active at 23,400, 23,500 and 23,800 strikes.
• The aggressive Call writing points to expectations of resistance around the 23,300-23,500 zone. Traders appear to be limiting expectations of a sharp upside move during the weekly expiry session.

Nifty options data for the weekly expiry shows the largest addition in Put open interest at the 23,200 strike, where traders added more than 20 lakh contracts. Significant Put writing was also visible at 23,000 and 23,100 strikes.

The build-up suggests traders continue to view the 23,200 zone as an important support area for the expiry session. Strong Put additions below spot levels indicate market participants are preparing for downside protection around these strikes.

Key levels, active strikes, big moves and live market cues — all in one place; Join our F&O Hour live blog for real-time action now.

• Life insurance industry premium rose 5% year-on-year to Rs 32,031 crore in May.
• Kotak Mahindra Life Insurance premium rose 31% to Rs 594 crore, while HDFC Life premium increased 15% to Rs 2,577 crore. ICICI Prudential Life premium rose 14% to Rs 1,603 crore, and SBI Life premium gained 10% to Rs 2,668 crore.

>>

>>

>>

• India VIX fell 7.02% to 15.83 in trade.
• The volatility index declined by 1.20 points from its previous level of 17.03.

>>

• Cera Sanitaryware rose 7.05% to Rs 5,859, a day after a block deal in the stock.
• On Monday, Goldman Sachs India Equity Portfolio bought 1.18 lakh shares, while HDFC Standard Life Insurance Company sold 1.50 lakh shares at Rs 5,480 apiece.

>>

• Indian equity benchmarks gained in opening trade, ending a two-day losing run.
• The NSE Nifty 50 rose as much as 0.6% to 23,259.45, while the BSE Sensex gained 511 points, or 0.7%, to 74,035.

• Pre-market indicators showed gains for Indian equity benchmarks.
• The Nifty 50 was up 136.05 points, or 0.59%, at 23,259.05, while the Sensex rose 511.15 points, or 0.70%, to 74,035.41.

• Nifty expiry, Aequs lock-in expiry, NLC India OFS opening and a BlueStone Jewellery block deal are among the domestic events to track today.

• In global cues, investors will watch US existing home sales data and US consumer inflation expectations.

• The rupee appreciated at the open against the US dollar.
• The local currency gained as much as 29 paise, or 0.31%, to 95.41.

• Jefferies said the terms for raising funds through FCNR-B deposits and external commercial borrowings are supportive for banks.
• The brokerage said banks will not bear hedging costs for FCNR-B deposits, while these deposits will be exempt from CRR and SLR requirements. It said banks and PSUs can raise funds through ECBs, with leverage likely to be a key attraction.
• Jefferies said these measures could drive inflows of $50–70 billion, compared with $34 billion in 2013.

• Elara Capital initiated coverage on Bharti Airtel with a Buy rating and a target price of Rs 2,387.
• The brokerage said India’s telecom sector is in a multi-year recovery, supported by affordable tariffs, rising smartphone adoption and network expansion. It expects Bharti Airtel’s average revenue per user to grow at a 7% CAGR during FY26–29.

• Citi maintained its Neutral rating on Cognizant and raised its target price to $55 from $51.
• The brokerage said management sees a growing AI-related market among enterprises. It also said agentic AI platforms are taking share from traditional spending areas, with company structures likely to place more focus on AI-first talent.

• Jefferies reiterated its Buy rating on Emmvee with a target price of Rs 360.
• The brokerage said power demand rose at a double-digit pace in May, with peak demand at record levels. It said domestic PV cell and future ingot and wafer mandates favour domestic cell-backed players such as Emmvee.

• HSBC initiated coverage on IDFC First Bank with a Buy rating and a target price of Rs 90, implying 24% upside.
• The brokerage expects loan growth and operating leverage across business segments to support earnings. It forecast 35% core pre-provision operating profit CAGR during FY26–29, along with expansion in return on assets and return on equity.

• Kotak Institutional Equities maintained its Buy rating on State Bank of India with a fair value of Rs 1,250.
• The brokerage said SBI reported another year of steady execution, with loan growth and asset quality ahead of expectations. It said net interest margin compression continued in FY26, while return on equity should remain resilient.

• JSW Energy commissioned its Halol wind blade manufacturing plant in Gujarat. RVNL received a Rs 221 crore letter of acceptance from South East Central Railway, while JNK India secured two orders, including one in the Rs 100–300 crore range.

• Grasim Industries plans to invest Rs 3,094 crore to expand Lyocell capacity in Karnataka. Avenue Supermarts invested Rs 150 crore in Avenue E-Commerce, while Aditya Birla Fashion and Retail’s TMRW bought an additional 10% stake in Bewakoof.

• TCS launched a business unit for global capability centres, while HCLTech launched an AI Innovation Zone with Google Cloud in the US. HDB Financial, Ratnaveer Precision and Ather Energy will hold board meetings this week to consider fundraising options.

• Nifty June futures fell 1.30% to 23,147.10, trading at a premium of 24.1 points.
• In options, the maximum Call open interest was at 24,000, while the maximum Put open interest was at 22,500. Amber Kaynes is in the F&O ban period.

• Ramco Systems has been shortlisted under the short-term ASM framework.
• Adani Total Gas and Jaykay Enterprises will be excluded from the ASM framework.

• Info Edge (India) promoter and director Sanjeev Bikhchandani disposed of 1.5 lakh shares.

• Fusion Finance promoter Devesh Sachdev sold 1.5 lakh shares.

• Paisalo Digital promoter group entity Equilibrated Venture Cflow released a pledge on 25.2 lakh shares.

• HDFC Life Insurance bought 18.2 lakh shares of Motilal Oswal Financial Services at Rs 842.5 apiece. Motilal Oswal Healthcare Foundation and Motilal Oswal Foundation sold a combined 18.2 lakh shares at the same price.

• Dhruv Khush Business Ventures sold 9.50 lakh shares of TruAlt Bioenergy at Rs 516.42 apiece, while Rajasthan Securities bought 7.60 lakh shares at Rs 516.83 each.

• Goldman Sachs India Equity Portfolio bought 1.18 lakh shares of Cera Sanitaryware, while HDFC Standard Life Insurance sold 1.50 lakh shares at Rs 5,480 apiece. In NRB Bearings, three funds bought a combined 43.68 lakh shares, while Trilochan Singh Sahney Trust 1 sold 43.70 lakh shares at Rs 390 each.

• SML Isuzu said May production rose 7% year-on-year to 1,729 units, while sales increased 11.6% to 1,678 units. Exports stood at 89 units, compared with 40 units a year earlier.

• IRB Infra Developers reported a 25% year-on-year rise in May toll revenue to Rs 843 crore.

• Bajaj Finserv said Bajaj General Insurance’s gross direct premium underwritten rose 1.7% to Rs 1,343 crore, while Bajaj Life Insurance’s total premium increased 66% to Rs 1,236 crore. Fino Payments Bank reported 29% growth in deposit accounts and 186% growth in loan disbursals, while throughput transaction business fell 48%.

• Asian markets advanced on Tuesday as concerns over the Middle East eased and technology shares recovered.
• Japan’s Nikkei 225 rose 0.31%, South Korea’s Kospi gained 3.68%, and Australia’s S&P/ASX 200 added 0.31%. The gains followed a rebound on Wall Street, led by chip stocks including Nvidia and Micron Technology.

• GIFT Nifty traded at 23,089, compared with Monday’s Nifty 50 close of 23,123.
• The early indicator pointed to a lower start for the benchmark index.