Post Session: Quick Review

Indian equity benchmarks ended lower on Monday amid renewed geopolitical tensions in the Middle East. After making a cautious start, soon indices slipped into the red and remained under pressure throughout the session, weighed down by heavy selling in IT, auto, and banking stocks. Traders remained on sidelines ahead of the release of India's Index of Industrial Production (IIP) data for May later in the day.

Some of the important factors in trade:

Crisil sees limited profitability hit for India Inc as West Asia tensions ease: Traders took note of the Crisil Ratings in its latest report has said that the profitability impact of the recent West Asia conflict on India Inc is expected to be far lower than initially projected if the US-Iran ceasefire remains intact and energy supplies continue to normalise.

India’s forex reserves rise to $672.59 billion: Traders overlooked report that India's forex reserves increased by $963 million to $672.59 billion during the week ended June 19.

Indian CV industry to grow 4-6% in FY27: Credit rating agency ICRA said that the Indian commercial vehicles industry is expected to register a moderate YoY growth of 4-6 per cent in wholesale volumes in FY27 with the broadened base of last fiscal likely to have some bearing on the growth momentum of this year.

On the global front: European markets were trading mostly in the red as traders focus shifts to upcoming high-level U.S.-Iran talks in Qatar. Asian markets closed mostly higher despite the broadly negative cues from Wall Street on Friday. 

The BSE Sensex ended at 76728.37, down by 372.10 points or 0.48% after trading in a range of 76621.75 and 77252.78. There were 14 stocks advancing against 16 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were Healthcare up by 0.95%, Power up by 0.57%, Metal up by 0.52%, Utilities up by 0.08% and Capital Goods up by 0.04%, while Auto down by 2.11%, Oil & Gas down by 1.40%, IT down by 1.04%, Consumer Disc down by 0.91% and Energy down by 0.82% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Bharat Electronics up by 1.59%, Eternal up by 1.39%, Trent up by 1.28%, Power Grid Corporation. up by 1.04% and NTPC up by 0.78%. On the flip side, Kotak Mahindra Bank down by 2.91%, Mahindra & Mahindra down by 2.36%, Maruti Suzuki India down by 2.12%, Interglobe Aviation down by 2.05% and Ultratech Cement down by 1.46% were the top losers. (Provisional)

Meanwhile, with an aim of expanding bilateral trade, investment flows and strategic economic collaboration, the Union Minister of Commerce and Industry Piyush Goyal is leading a business delegation to Greece. The engagement reflects the Government of India's continued commitment to strengthening global economic partnerships, fostering innovation-led growth, and advancing India's trade and investment diplomacy in key international markets.

The delegation will participate in presentations and startup pitches at ‘The Athens Startup Business Incubator’ (THEA), providing a platform to showcase next-generation enterprises and promote cross-border innovation partnerships. Further, it will hold discussions with Indian and Greek industry leaders, to identify new avenues for collaboration and strengthening private-sector partnerships in key sectors including infrastructure, digitalisation and defence, and food and agriculture.

The programme will include a high-level business interaction bringing together leading stakeholders from both countries to explore opportunities for enhanced investment and commercial partnerships across priority sectors. Besides, the delegation will visit leading Greek enterprises to explore collaboration in advanced manufacturing and technology-driven sectors, strengthening industrial synergies between the two countries.

The CNX Nifty ended at 23946.25, down by 109.75 points or 0.46% after trading in a range of 23924.55 and 24120.00. There were 27 stocks advancing against 23 stocks declining on the index. (Provisional)

The top gainers on Nifty were Max Healthcare Inst. up by 2.37%, Dr. Reddy's Labs. up by 2.18%, Coal India up by 1.72%, Eternal up by 1.59% and Bharat Electronics up by 1.55%. On the flip side, Kotak Mahindra Bank down by 2.93%, Mahindra & Mahindra down by 2.80%, Interglobe Aviation down by 2.47%, Adani Enterprises down by 2.24% and Maruti Suzuki India down by 2.22% were the top losers. (Provisional)

European markets were trading mostly in red; France’s CAC fell 32.07 points or 0.38% to 8,352.80 and UK’s FTSE 100 decreased 30.56 points or 0.29% to 10,477.46, while Germany’s DAX gained 40.08 points or 0.16% to 24,711.30.

Asian markets ended mostly higher on Monday as investors kept a close watch on developments in the Middle East. After exchanging fire near the Strait of Hormuz over the weekend, United States and Iran have agreed to suspend further attacks ahead of peace talks scheduled for this week in Doha, Qatar. Chinese and Hong Kong shares surged following fresh liquidity support measures from the People's Bank of China (PBoC). The central bank introduced overnight reverse repo operations, offering 300 billion Chinese Yuan to financial institutions to improve short-term liquidity management and stabilize funding conditions in the interbank market. Separately, the PBoC injected 157.5 billion Chinese Yuan through seven-day reverse repos while keeping the borrowing cost unchanged at a record-low 1.4%. The measures underscored Beijing's commitment to an accommodative monetary stance and reinforced expectations of continued policy support for the economy. Meanwhile, investors remained cautious ahead of the US nonfarm payrolls report and the annual central banker confab in Sintra, Portugal, due this week. Besides, traders took profits on high-flying semiconductor and artificial intelligence-related stocks due to worries about potentially higher interest rates by the end of the year.