Market under pressure; realty shares decline

The key equity benchmarks continued to trade with sharp losses in mid-afternoon trade as investor sentiment remained cautious amid stalled US-Iran negotiations, uncertainty over the reopening of the Strait of Hormuz and a sharp surge in crude oil prices above the $105-per-barrel mark. Until signs of de-escalation emerge, the overhang on crude oil prices, the rupee, and institutional flows is expected to persist. Investors are also closely monitoring Q4 earnings for further cues. The Nifty slipped below the 23,900 level.

Realty shares declined for the second consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex tumbled 1,118.30 points or 1.44% to 76,543.10. The Nifty 50 index slumped 313.85 points or 1.29% to 23,861.60.

The broader market outrperformed the frontliner indices. The BSE 150 MidCap Index slipped 1.11% and the BSE 250 SmallCap Index dropped 1.23%.

The market breadth was weak. On the BSE, 1,120 shares rose and 3,018 shares fell. A total of 171 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.01% to 19.52.

Buzzing Index:

The Nifty Realty index declined 1.44% to 777.20. The index fell 3.26 % for the second consecutive trading sessions.

Anant Raj (down 2.35%), Lodha Developers (down 2.27%), Phoenix Mills (down 1.79%), Brigade Enterprises (down 1.69%), Prestige Estates Projects (down 1.63%), Godrej Properties (down 1.55%), Sobha (down 1.51%), DLF (down 1.21%), Oberoi Realty (down 1.1%) and Aditya Birla Real Estate (down 0.6%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.33% to 6.74 compared with previous session close of 6.951.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.2875 compared with its close of 94.0150 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement rose 0.03% to Rs 151,804.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 98.78.

The United States 10-year bond yield advanced 0.21% to 4.334.

In the commodities market, Brent crude for June 2026 settlement jumped $1.90 or 1.81% to $106.97 a barrel.

Stocks in Spotlight:

Tata Capital declined 1.25%. The company has reported 42.8% rise in consolidated net profit to Rs 1,502 crore on an 8.7% increase in total income to Rs 8,163.29 crore in Q4 FY26 as compared with Q4 FY25.

Inventurus Knowledge Solutions rose 0.84% after the company said that its U.S. subsidiary Inventurus Knowledge Solutions has entered into a definitive agreement to acquire TruBridge for $565 million.

IT major LTM (formerly LTIMindtree) declined 4.78%. The company reported a 44.57% surge in consolidated net profit to Rs 1,387.3 crore despite a 4.74% jump in revenue from operations to Rs 11,291.7 crore in Q4 FY26 over Q3 FY26.