Last Updated on June 10, 2026 11:39 pm by BIZNAMA NEWS
Market Report
By Our Business Correspondent
Benchmark indices surrendered most of their intraday gains on Wednesday as profit booking at higher levels and persistent foreign investor selling weighed on sentiment. The Nifty, which touched an afternoon high of 23,425, slipped below the 23,250 mark by close. The Sensex managed a modest rise of 64 points to 73,983, while the Nifty ended 27 points lower at 23,214. Weak global cues and renewed geopolitical tensions in West Asia added to the caution. Metal and realty counters bore the brunt of selling, while FMCG and private banks offered limited support.
Broader markets underperformed, with the BSE MidCap index falling 1.36% and the SmallCap index down 1.13%. Market breadth remained weak as losers outnumbered gainers two to one. Among key drags, Bharti Airtel, Infosys and Reliance Industries slipped, while select stocks such as Aegis Logistics, Elitecon International and Nucleus Software posted sharp gains on company-specific developments. Newly listed CMR Green Technologies debuted at a premium, closing nearly 29% above issue price.
Global sentiment was fragile after US forces carried out strikes against Iran, escalating tensions near the Strait of Hormuz. Asian markets closed mostly lower, while European indices turned negative after a brief positive start. US futures pointed to a weak opening ahead of key inflation data. In commodities, Brent crude edged higher to $91.58 a barrel, while gold futures slumped over 2%. The rupee weakened against the dollar, and bond yields inched up.
Business Daily Wrap
The benchmark indices gave up most of their intraday gains on Wednesday as profit booking at higher levels, persistent FII selling, weak global cues, and renewed geopolitical tensions in West Asia weighed on sentiment.
- Indices Performance:
- Sensex: +64.42 points (0.09%) at 73,983.18
- Nifty 50: –27.15 points (0.12%) at 23,214.95
- Nifty touched an intraday high of 23,425.35 before slipping below 23,250.
- FMCG and private banks lent support, while metals and realty dragged.
- Sector & Stock Action:
- Major drags: Bharti Airtel (–1.32%), Infosys (–0.87%), Reliance (–0.82%).
- Broader markets: BSE MidCap (–1.36%), SmallCap (–1.13%). Market breadth weak with 1,472 gainers vs 2,748 losers.
- Stocks in focus:
- Aegis Logistics +2.34% after brokerage upgrade.
- Elitecon International +19.18% on FMCG expansion roadmap.
- Nucleus Software +14.56% on Indonesia partnership.
- Clean Max +8.37% on renewable energy deal with Meta.
- Concord Biotech +4.60% after USFDA approval.
- Afcons Infra +4.61% on Vadhvan Port LoA.
- New listing: CMR Green Technologies closed at ₹247.90, a 29% premium to issue price.
- Macro Indicators:
- Bond yields: India’s 10-year benchmark at 6.890%.
- Rupee: Weaker at 95.28 vs 95.41.
- Gold: MCX August futures –2.19% at ₹1,49,110.
- Crude: Brent July +0.14% at $91.58.
- US Dollar Index: marginally lower at 99.85.
- Global Markets:
- US: Futures weak; Dow Jones futures –315 points ahead of inflation data.
- Europe: Turned lower on Middle East tensions.
- Asia: Mostly down after US “self-defence strikes” on Iran.
- China: CPI steady at 1.2% YoY in May; PPI surged 3.9% YoY, fastest since July 2022.
- Geopolitical Watch:
US strikes on Iran following the downing of an Apache helicopter near Hormuz have heightened concerns over the fragile ceasefire, adding volatility to global markets.
The day’s trade reflected a tug-of-war between domestic resilience in select sectors and external headwinds from geopolitics and global demand concerns. Broader market weakness and heavy FII selling remain key risks to near-term sentiment.