Domestic equity indices remained weak and were trading slightly in the red in late morning deals on account of selling in stocks of NTPC, Bajaj Finance, Bajaj Finserv, Axis Bank, and Larsen & Toubro. Sentiments were weak as investors weighed renewed uncertainty over U.S.-Iran peace negotiations. Iran announced it was halting all communications with the U.S. unless Israel stops its expanding military offensive in southern Lebanon. Further, traders were cautious as Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,911.68 crore on June 1, 2026, according to exchange data. However, losses were capped as the data released by the Controller General of Accounts (CGA) showed that the government met its fiscal deficit target of 4.4 per cent of gross domestic product (GDP) for FY 2025-26 (FY26).
On the global front, Asian markets were trading mostly in the green, following positive cues from the US markets overnight. Back home, On the BSE sectoral front, traders were seen piling up positions in IT, TECK, Metal, Basic Materials and Consumer Durables, while selling was witnessed in Utilities, Power, Healthcare, PSU and Oil & Gas.
The BSE Sensex is currently trading at 74173.74, down by 93.60 points or 0.13% after trading in a range of 73815.12 and 74290.48. There were 12 stocks advancing against 18 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 4.64%, TECK up by 2.69%, Metal up by 0.44%, Basic Materials up by 0.03% and Consumer Durables up by 0.02%, while Utilities down by 1.61%, Power down by 1.53%, Healthcare down by 1.00%, PSU down by 0.75% and Oil & Gas down by 0.61% were the top losing indices on BSE.
The top gainers on the Sensex were TCS up by 6.62%, Infosys up by 5.92%, HCL Technologies up by 4.27%, Tech Mahindra up by 2.47% and Tata Steel up by 0.47%. On the flip side, NTPC down by 3.62%, Bajaj Finance down by 2.12%, Bajaj Finserv down by 2.05%, Axis Bank down by 1.69% and Larsen & Toubro down by 1.68% were the top losers.
Meanwhile, Department of Financial Services Joint Secretary Manoj Muttathil Ayyappan has said that banks have sanctioned loans worth more than Rs 35,000 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 for micro, small and medium enterprises (MSMEs), airlines and other businesses impacted by the ongoing crisis in West Asia.
He said the latest version of the scheme, approved by the Union Cabinet on May 5, aims to facilitate additional credit flow of Rs 2.55 lakh crore, including Rs 5,000 crore earmarked for airlines impacted by the ongoing geopolitical crisis. Lenders have approved around 80,000 applications involving loans worth Rs 35,194 crore, while guarantees amounting to Rs 15,720 crore have been issued as of May 29, 2026.
He further said ‘since we have reached a good number, it is expected that the customers would benefit from the scheme and the entire process is digital and end-to-end can be completed in 5-7 days.’ He noted that the scheme is made generally liberal, ensuring that maximum beneficiaries are able to avail the benefits. He said only customers who are Special Mention Account (SMA)-2 as of March 31, 2026, are kept outside the scheme. He added that the government is also conducting outreach programmes across the country so that maximum benefit can be provided.
The CNX Nifty is currently trading at 23340.45, down by 42.15 points or 0.18% after trading in a range of 23229.15 and 23375.95. There were 19 stocks advancing against 31 stocks declining on the index.
The top gainers on Nifty were TCS up by 6.34%, Infosys up by 5.86%, HCL Technologies up by 4.14%, Tech Mahindra up by 2.45% and Hindalco up by 1.18%. On the flip side, NTPC down by 3.56%, Bajaj Finserv down by 1.97%, Bajaj Finance down by 1.96%, Eicher Motors down by 1.86% and Power Grid down by 1.63% were the top losers.
Asian markets were trading mostly in green; Taiwan Weighted added 219.4 points or 0.48% to 45,557.31, Jakarta Composite gained 91.48 points or 1.47% to 6,218.86, Shanghai Composite strengthened 22.69 points or 0.56% to 4,080.43, Hang Seng advanced 462.82 points or 1.82% to 25,861.00 and Straits Times rose 31.01 points or 0.62% to 5,068.87. However, Nikkei 225 slipped 329.33 points or 0.49% to 66,605.00 and KOSPI dropped 1.94 points or 0.02% to 8,786.44.
