Indices trade with major losses in early trade; breadth weak

The key equity benchmarks traded with major cuts in early trade, mirroring a broad selloff across Asian markets amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Investor sentiment was further pressured by concerns over a possible interest rate hike in the United States. Nifty traded tad below the 23,150 mark. IT, realty and auto shares declined while PSU bank, pharma and media stocks advanced.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 715.30 points or 0.96% to 73,533.57. The Nifty 50 index fell 217.80 points or 0.93% to 23,148.90.

In the broader market, the BSE 150 MidCap Index declined 0.92% and the BSE 250 SmallCap Index shed 0.84%.

The market breadth was weak. On the BSE, 1,148 shares rose and 2,119 shares fell. A total of 228 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 8,776.25 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 9,133.57 crore in the Indian equity market on 05 June 2026, provisional data showed.

Stocks in Spotlight:

Innovision rose 1.66% after the company received a letter of award (LoA) from the National Highways Authority of India (NHAI) worth Rs 25.70 crore for toll collection at the Belon Fee Plaza on the Aligarh'Moradabad section of NH-93 (NH-509) in Uttar Pradesh.

RailTel Corporation of India shed 0.62%. The company has received a work order worth Rs 41.32 crore from the Uttar Pradesh Police Recruitment and Promotion Board for providing security-related ancillary services during recruitment examinations.

Cupid Breweries and Distilleries jumped 4.96% after the company said that it has entered into an agreement with United Spirits, a Diageo Group company, for the purchase of an operational alco-beverage manufacturing unit in Gopalpur, Odisha, for Rs 22.50 crore.

Numbers to Track:

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.3300 compared with its close of 95.1800 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement shed 0.94% to Rs 1,54,118.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 100.05.

The United States 10-year bond yield rose 0.66% to 4.571.

In the commodities market, Brent crude for August 2026 settlement rose $3.12 or 3.35% to $96.21 a barrel.

Global Markets:

Asia-Pacific markets opened lower on Monday, as escalating tensions in the Middle East weighed on investor sentiment. The decline came after Israel launched retaliatory strikes on targets in western and central Iran, raising fears of a broader regional conflict and prompting a risk-off mood across global markets.

On Friday, the Nasdaq Composite fell 4.18% to 25,709.43'its biggest drop since April 2025. The S&P 500 sank 2.64% to close at 7,383.74, and the Dow lost 695 points to end the week at 50,866.78, a day after hitting a new high.

The decline on Friday came after a stronger-than-anticipated U.S. jobs report for May pushed Treasury yields higher, fueling concerns that elevated borrowing costs could pressure companies making substantial investments in artificial intelligence infrastructure.

In the coming week, market participants will closely track inflation data and the highly anticipated public debut of Elon Musk's SpaceX on Friday.

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