Sensex, Nifty trade lower amid Iran-Israel tensions; VIX rallies 3.43%
The Nifty traded below the 24,950 mark. Auto shares declined after rising for three consecutive sessions.
At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 568.08 points or 0.70% to 81,830.43. The Nifty 50 index slipped 164.20 points or 0.66% to 24,948.80.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index rose 0.17%.
The market breadth was negative. On the BSE, 1,448 shares rose and 2,264 shares fell. A total of 229 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.43% to 14.14.
Economy:
The HSBC Flash India Composite Output Index ? a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors ? climbed to a 14-month high of 61.0 in June. Rising from 59.3 in May, the latest reading was consistent with a sharp rate of expansion that was well above the long-run series average.
The HSBC Flash India Manufacturing PMI rose from 57.6 in May to 58.4 in June, signalling the best improvement in operating conditions since April 2024.
Buzzing Index:
The Nifty Auto index fell 1.01% to 23,440.40. The index added 1.94% in the previous three consecutive trading sessions.
Samvardhana Motherson International (down 2.76%), Bosch (down 1.67%), Mahindra & Mahindra (down 1.5%), Tube Investments of India (down 1.44%), Hero MotoCorp (down 1.38%) were the top losers. Among the other losers were TVS Motor Company (down 1%), Bajaj Auto (down 0.84%), Tata Motors (down 0.81%), Maruti Suzuki India (down 0.81%) and Balkrishna Industries (down 0.71%) declined.
On the other hand, MRF (up 0.97%) ,Bharat Forge (up 0.77%) and Ashok Leyland (up 0.02%) added.
Stocks in Spotlight:
Bharat Electronics (BEL) advanced 2.42% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025.
Zen Technologies hit an upper limit of 5% after the company?s board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA.
Embassy Developments added 3.83% after the company announced the signing of a joint development agreement (JDA) for nearly 17.9-acre land parcel in Whitefield, Bengaluru.
Global Markets:
US Dow Jones futures were down 96 points, hinting at a negative start for Wall Street.
Asian markets slumped on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict. Brent Crude climbed to $78.52 a barrel, continuing its upward trend amid regional tensions.
On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from May?s 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0.
Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Fed?s next move on rates.
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