Market trade in negative terrain; auto shares tumble

The key equity barometers traded with major losses in early afternoon trade amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Concerns were further amplified after the central bank trimmed its FY27 GDP growth forecast to 6.6% from around 6.9% and raised its inflation projection to about 5.1%. Nifty traded below the 23,250 mark.

Auto shares witnessed profit booking after advancing in the past four trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 447.42 points or 0.60% to 73,795.92. The Nifty 50 index fell 146.60 points or 0.63% to 23,218.75.

In the broader market, the BSE 150 MidCap Index dropped 0.66% and the BSE 250 SmallCap Index slumped 0.98%.

The market breadth was positive. On the BSE, 1,486 shares rose and 2,648 shares fell. A total of 222 shares were unchanged.

In the commodities market, Brent crude for August 2026 settlement rose $4.54 or 4.88% to $97.63 a barrel after Israel launched fresh attacks on Lebanon over the weekend despite a ceasefire, raising concerns over regional stability and the smooth flow of oil shipments through the strategically important Strait of Hormuz.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.12% to 15.55. The Nifty 30 June 2026 futures were trading at 23,287.20, at a premium of 68.45 points as compared with the spot at 23,218.75.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 83.9 lakh contracts at the 24,000 strike price. A maximum put OI of 47.5 lakh contracts was seen at the 23,000 strike price.

Buzzing Index:

The Nifty Auto index declined 1.11% to 25,875.05. The index jumped 1.06% in the past four trading sessions.

Ashok Leyland (down 2.52%), Exide Industries (down 2.14%), Tata Motors Passenger Vehicles (down 2.14%), Uno Minda (down 1.91%), Sona BLW Precision Forgings (down 1.78%), Mahindra & Mahindra (down 1.63%), Samvardhana Motherson International (down 1.37%), TVS Motor Company (down 1.13%), Bajaj Auto (down 0.72%) and Bharat Forge (down 0.41%) declined.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) shed 0.11%. The company said that it has secured a 10-year marine services contract for Argentina's first liquefied natural gas (LNG) export project.

Zee Entertainment Enterprises rose 2.07% after the company announced that its board will meet on Wednesday, 19 June 2026 to consider raising funds through the issuance of equity shares through various modes in one or more tranches.

Powered by Capital Market - Live News