Equity

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,194.95 points or 1.57% to 74,831.63. The Nifty 50 index fell 347.95 points or 1.46% to 23,467.90.

In the broader market, the BSE 150 MidCap Index slipped 1.57% and the BSE 250 SmallCap Index declined 1.95%.

Sellers outnumbered buyers. On the BSE, 866 shares rose and 3,315 shares fell. A total of 158 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 3.63% to 19.23.

Economy:

A public sector bank research report for May 2026 projected India's GDP growth at 6.6% for FY27, compared with an estimated 7.5% growth in FY26, while highlighting the economy's resilience amid global uncertainties and regional conflicts.

The report said credit growth is expected to remain strong in the first half of FY27 and domestic consumption will continue supporting economic activity. It noted that robust rabi output has improved near-term food supply prospects but warned that volatile crude oil prices, commodity fluctuations, and possible El Ni'o conditions could increase inflation risks.

The report also called for measures to address balance of payments pressures arising from rupee depreciation and rising crude prices, including calibrated use of Indian diaspora bonds. It further stressed the need for India to accelerate AI-driven productivity, competitiveness, and integration into global value chains through supportive policy measures.

Buzzing Index:

The Nifty Auto index declined 1.66% to 26,308.30. The index tanked 3.88% in the three consecutive trading sessions.

Samvardhana Motherson International (down 3.98%), Ashok Leyland (down 3.66%), Bharat Forge (down 3%), Tata Motors Passenger Vehicles (down 2.46%), Uno Minda (down 2.41%), Hero MotoCorp (down 2.04%), Maruti Suzuki India (down 1.81%), Mahindra & Mahindra (down 1.54%), Bosch (down 1.35%), and Exide Industries (down 1.33%) fell.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.13% to 7.040 compared with the previous session close of 7.031.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at a fresh record low of 95.6450 compared with its close of 95.2800 during the previous trading session, amid renewed geopolitical tensions involving Iran and comments from U.S. President Donald Trump that heightened fears of a prolonged conflict and elevated crude oil prices.

MCX Gold futures for 5 June 2026 settlement rose 0.02% to Rs 153,690.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.35% to 98.27.

The United States 10-year bond yield rose 0.43% to 4.432.

In the commodities market, Brent crude for July 2026 settlement rose $2.61 or 2.50% to $106.82 a barrel.

Stocks in Spotlight:

Paradeep Phosphates surged 3.75% after the company's consolidated profit after tax stood at Rs 155.60 crore in Q4 FY26, down 9.63% from Rs 172.19 crore in Q4 FY25 and declined 14.53% from Rs 182.06 crore in Q3 FY26. Revenue from operations increased 12.11% YoY to Rs 4,701.97 crore in Q4 FY26 from Rs 4,193.96 crore in the corresponding quarter last year. However, revenue declined 18.21% sequentially from Rs 5,748.67 crore in Q3 FY26.

H.G. Infra Engineering (HGIEL) rose 1.68% after the company said that it has secured an order worth Rs 3,931.11 crore from Welspun Enterprises.

JSW Steel fell 1.10% after the company reported combined crude steel production of 21.18 lakh tonnes for April 2026, registering a 1% decline compared with 21.40 lakh tonnes produced in April 2025.

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