Last Updated on June 29, 2026 5:23 pm by BIZNAMA NEWS
By Our Business Correspondent
Indian equities reversed early gains as profit booking weighed on sentiment. The Nifty 50 slipped below the 23,950 mark after touching an intraday high of 24,120, while the Sensex closed 372.10 points lower at 76,728.37.
- Auto and IT stocks were the biggest drags.
- Persistent Systems tumbled after announcing a takeover bid for Germany’s Nagarro SE.
- Pharma stocks provided some relief, ending higher.
In the broader market, the MidCap index fell 0.22% and the SmallCap index dropped 0.57%. Market breadth remained weak, with 2,629 shares declining against 1,712 advancing.
The India VIX rose 4.29% to 13.61, signaling heightened volatility expectations.
Sector & Stock Movers
- Kotak Mahindra Bank (-2.93%) declined after CEO Ashok Vaswani announced he will not seek reappointment post-2026.
- Mahindra & Mahindra (-2.43%) and Reliance Industries (-1.20%) weighed on the Nifty.
- Persistent Systems (-11.35%) slumped on concerns over execution risks in its €81/share Nagarro SE acquisition.
- Hexaware Technologies (+4.53%) surged after becoming an Anthropic Authorized Reseller for Amazon Bedrock, strengthening its AI-first strategy.
- Waaree Energies (-4.10%) fell after a U.S. CBP determination raised concerns over solar exports.
- Bajaj Healthcare (+16.26%) soared after CDSCO recommended approval for Cenobamate Tablets for partial-onset seizures.
- Omaxe (+8.40%) rallied on plans to invest ₹6,200 crore in hospitality projects across five states.
- Astral (-7.86%) dropped after announcing a chemicals business demerger.
- Vikran Engineering (+6%) gained after securing a ₹3,517.98 crore EPC order for a 969 MW solar project.
Global Market Overview
- US futures pointed higher, with Dow Jones futures up 202 points.
- European indices traded lower amid caution over US-Iran tensions.
- Asian markets ended mixed, reflecting geopolitical uncertainty.
Geopolitical risks intensified after U.S. strikes on Iranian military targets near the Strait of Hormuz. President Trump warned of further action, raising concerns about oil supply disruptions.
On Wall Street, last week saw mixed performance:
- Nasdaq Composite fell 4.6% for the week, extending its losing streak.
- S&P 500 declined nearly 2%.
- Dow Jones outperformed with a 0.6% weekly gain.
Chipmakers remained under pressure amid reports that OpenAI may delay its IPO, citing weak post-listing performance of SpaceX and volatility in AI-related stocks.
Economy & Macro Indicators
- Forex reserves rose $963 million to $672.59 billion, driven by a $4.11 billion increase in gold reserves.
- 10-year bond yield eased to 6.764%.
- Rupee weakened slightly to 94.53 against the dollar.
- MCX Gold futures fell 0.99% to ₹142,739.
- Brent crude rose 0.64% to $72.45 per barrel.
- US Dollar Index (DXY) slipped 0.09% to 101.27.
- US 10-year bond yield rose to 4.382%.
IPO & Listings
- Turtlemint Fintech Solutions debuted at ₹136.20, a 10.39% discount to its issue price of ₹152.
- Aastha Spintex IPO subscribed 0.84 times so far.
- CSM Technologies IPO subscribed 1.34 times, showing stronger investor demand.
Key Takeaways
- Profit booking and sectoral weakness in auto and IT dragged indices lower.
- Pharma and select mid-cap names provided resilience.
- Global markets remain cautious amid geopolitical tensions and AI-sector volatility.
- IPO activity continues to attract investor interest despite mixed debuts.
Disclaimer: This report is for informational purposes only and does not constitute investment advice. Readers are advised to consult a qualified financial advisor before making investment decisions.