Last Updated on May 29, 2026 6:49 pm by BIZNAMA NEWS
AMN / BIZ DESK
Indian equities ended sharply lower on Friday, capping a third consecutive session of declines as investors grappled with rising geopolitical tensions in the Middle East and a slightly below‑normal monsoon forecast. The Nifty 50 slipped below the 23,550 mark, dragged down by energy, metal, and auto counters.
The Sensex tumbled 1,092 points to 74,775, while the Nifty lost 359 points to close at 23,547. Over three sessions, the benchmarks have shed more than 2%.
Geopolitics and Monsoon Weigh on Sentiment
Investor mood remained cautious as hopes for peace in the Middle East wavered. The India Meteorological Department’s projection of 90% of the long‑period average rainfall added to the unease, hinting at a slightly below‑normal monsoon that could temper rural demand and food output.
MSCI Shuffle Sparks Late‑Session Sell‑Off
Selling pressure intensified in the final hour as MSCI’s index rebalancing took effect. Federal Bank, MCX, NALCO, and Indian Bank joined the Global Standard Index, while Hyundai Motor India, Jubilant FoodWorks, Kalyan Jewellers, and RVNL were dropped.
Sectoral Snapshot
Reliance Industries, HDFC Bank, and ICICI Bank were among the top drags. Mid‑caps and small‑caps also lost ground, with the BSE 150 MidCap Index down 1.25% and the BSE 250 SmallCap Index off 0.61%. Market breadth turned negative as decliners outnumbered gainers.
Volatility spiked — the India VIX jumped 8% to 16.19, signaling heightened nervousness.
Macro Watch: Monsoon and Inflation
The IMD’s forecast suggests moderate economic impact. Rain‑fed crops may face localized stress, potentially nudging food prices higher. Economists expect limited GDP fallout, with services and industry cushioning the blow.
Numbers to Track
- 10‑year bond yield: 6.999%
- Rupee: 95.99 per dollar
- Gold (MCX June): ₹156,000, down 0.59%
- Brent crude: $92.27 per barrel, down 1.54%
Global Cues: Fragile Calm in the Gulf
European and Asian markets edged higher amid reports that Washington and Tehran were nearing a temporary ceasefire. Despite fresh missile activity, the White House signaled progress toward a short‑term truce.
Wall Street closed at record highs overnight, led by tech stocks. The S&P 500 rose 0.58%, the Nasdaq Composite gained 0.91%, and the Dow Jones added 0.05%.
Stocks in Spotlight
- Delta Corp: plunged 14% after the Supreme Court upheld the 28% GST on gaming bets.
- Wockhardt: soared 15% on approval for its breakthrough antibiotic Zaynich.
- Supriya Lifescience: surged 20% after stellar Q4 earnings.
- Wipro: gained 1.3% on expanded AI partnership with ServiceNow.
- Asian Paints: reported 69% profit growth; stock flat.
- Banco Products: jumped nearly 5% on strong quarterly results.
- Kesoram Industries: slumped 5% after a 99% profit drop.