Key gauges end lower for 4th straight session

Falling for the fourth straight session, Indian equity benchmarks ended over half percent lower on Monday due to selling in Power, Capital Goods and Utilities shares amid elevated crude oil prices and uncertainty over the US-Iran 60-day ceasefire. Also, exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 21,105.86 crore on Friday.

Some of the important factors in trade:

India’s manufacturing PMI hits 3-month high in May: A monthly survey said the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) posted 55.0 in May, above the April reading of 54.7, indicating the strongest improvement in the sector's health in three months.

Govt’s gross GST collections up 3.2% to Rs 1.94 lakh crore in May: The government data has showed that gross goods and services tax (GST) collections rose 3.2 per cent to Rs 1,94,184 crore in May 2026 as compared to Rs 1,88,172 crore in May 2025. 

Bank credit to industry registers 15.1% growth in April: The Reserve Bank of India (RBI) in its latest data has showed that bank credit to industry recorded a year-on-year (y-o-y) growth of 15.1 per cent by the end of April 2026, sharply higher than 7 per cent growth recorded in the year-ago period. 

Finance Ministry sees cautious resilience in India's near-term economic outlook: The Finance Ministry has said that the near-term outlook for the Indian economy is one of cautious resilience. It added that, with a below-normal monsoon forecast and a likely moderation in economic activity, overall consumption demand may face headwinds in the coming months.  

Global front: European markets were trading mostly in green despite uncertainty over U.S.-Iran peace deal. Asian markets settled mostly higher as expectations for continued demand for semiconductors and AI-related gear offset lingering uncertainty over a possible ceasefire extension in the Middle East.

Finally, the BSE Sensex fell 508.40 points or 0.68% to 74,267.34 and the CNX Nifty was down by 165.15 points or 0.70% to 23,382.60.   

The BSE Sensex touched high and low of 75,367.93 and 74,203.68, respectively. There were 6 stocks advancing against 24 stocks declining on the index.   

The top gaining sectoral indices on the BSE were IT up by 2.39%, TECK up by 1.34%, Metal up by 0.87% and Energy up by 0.17%, while Power down by 2.90%, Capital Goods down by 2.44%, Utilities down by 2.12%, Industrials down by 2.11% and Realty down by 2.03% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 3.80%, Infosys up by 3.70%, TCS up by 1.95%, Interglobe Aviation up by 1.04% and HCL Technologies up by 0.90%. On the flip side, Hindustan Unilever down by 2.83%, ITC down by 2.53%, NTPC down by 2.15%, Mahindra & Mahindra down by 2.10% and Kotak Mahindra Bank down by 1.95% were the top losers.

Meanwhile, the government data has showed that gross goods and services tax (GST) collections rose 3.2 per cent to Rs 1,94,184 crore in May 2026 as compared to Rs 1,88,172 crore in May 2025. The growth was on account of improved supplies of goods and services, and continued expansion of collection from imports. Previously, GST mop-up in April reached an all-time high of Rs 2.43 lakh crore.

Of the total GST collections, Gross Central GST (CGST) collection from domestic transactions during the reported month stood at Rs 37,397 crore, State GST (SGST) at Rs 45,143 crore and Integrated GST (IGST) at Rs 51,990 crore.

Taxable supplies of goods grew 26.9 per cent during the reported period, reflecting domestic demand, while the same for the services sector grew 22.2 per cent, demonstrating structural resilience in domestic consumption.

IGST collection from imports rose 19.1 per cent during May to Rs 59,654 crore, signalling expansion in industrial capacity. GST refunds grew 2.6 per cent to Rs 27,281 crore in May 2026 from Rs 26,587 crore in May 2025. After adjusting refunds, net GST revenues in May 2026 rose 3.3 per cent to Rs 1,66,904 crore from Rs 1,61,585 crore in May 2025.

CNX Nifty touched high and low of 23,733.70 and 23,357.95, respectively. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Tech Mahindra up by 3.71%, Infosys up by 3.67%, Coal India up by 3.35%, JSW Steel up by 1.77% and TCS up by 1.66%. On the flip side, Hindustan Unilever down by 2.87%, Tata Consumer Product down by 2.83%, ITC down by 2.65%, Shriram Finance down by 2.55% and Mahindra & Mahindra down by 2.48% and were the top losers. 

European markets were trading mostly in green; France’s CAC rose 15.06 points or 0.18% to 8,198.40 and Germany’s DAX gained 64.1 points or 0.26% to 25,168.80, while UK’s FTSE 100 decreased 16.42 points or 0.16% to 10,392.86.

Asian markets settled mostly higher on Monday tracking Wall Streets’ gains on Friday amid expectations for continued demand for semiconductors and AI-related gear. Meanwhile, investors were closely watching on developments in the Middle East, where negotiations between the US and Iran toward a permanent ceasefire agreement continued to face significant challenges. Markets were also awaiting speeches from several Federal Reserve officials as well as key US manufacturing and May payrolls report due this week, which are expected to provide further guidance on the Federal Reserve’s policy outlook. Japan’s Nikkei closed at a fresh historic peak as start-up investor SoftBank Group officially overtook Toyota Motor to become the country's most valuable listed company, marking a significant milestone driven by the global artificial intelligence boom. The Japanese yen remained under heavy depreciation pressure near the critical threshold of 160 level as data showed Japan's biggest companies reduced capital spending in the first quarter. However, Chinese market declined following official data that showed weakening momentum in the country's manufacturing sector in May. The Indonesian, Malaysian and Singaporean markets were remained close on account of holiday.