Indices remain under pressure in late morning deals

Domestic equity indices remained under pressure and were trading lower by around half a percent in late morning trade due to selling by funds and retail investors. Rising crude oil prices dampened domestic market sentiment. Crude oil prices surged after the U.S. launched fresh strikes on Iran in retaliation for Tehran attacking commercial vessels in the Strait of Hormuz.  Meanwhile, the U.S. Treasury Department withdrew a waiver that had allowed Iran to sell its oil. On the BSE sectoral front, buying interest was witnessed in Realty, Telecom, Metal, Utilities and Power, while Oil & Gas, Energy, FMCG, Auto and PSU stocks remained under selling pressure.

On the global front, Asian markets were trading mixed amid renewed conflict in middle east. Meanwhile, traders looked ahead to minutes from the Federal Reserve’s latest policy meeting. Back home, in the stock specific development, PNGS Reva Diamond Jewellery surged as the company opened its exclusive brand store at Hadapsar, Pune. 

The BSE Sensex is currently trading at 77814.58, down by 366.14 points or 0.47% after trading in a range of 77555.52 and 77851.18. There were 8 stocks advancing against 22 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 1.21%, Telecom up by 0.28%, Metal up by 0.21%, Utilities up by 0.17% and Power up by 0.07%, while Oil & Gas down by 1.24%, Energy down by 0.99%, FMCG down by 0.99%, Auto down by 0.44% and PSU down by 0.34% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 1.30%, Adani Ports up by 0.85%, Trent up by 0.31%, Infosys up by 0.28% and Sun Pharma up by 0.20%. On the flip side, Interglobe Aviation down by 2.00%, ITC down by 1.80%, Maruti Suzuki India down by 1.71%, Hindustan Unilever down by 1.56% and Asian Paints down by 1.39% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its latest report has said that outstanding credit extended by non-banking financial companies (NBFCs) against gold jewellery witnessed the fastest growth among all lending segments in May 2026, surging nearly 70 per cent year-on-year. Outstanding gold loans rose to Rs 3.29 lakh crore at the end of May 2026 from Rs 1.94 lakh crore a year earlier, reflecting a growth of 69.9 per cent. 

Within the retail loan portfolio, housing loans, vehicle loans, and loans against gold jewellery recorded healthy growth, driving overall retail credit growth to 19.5 per cent year-on-year in May, compared with 14.9 per cent in the same month last year.  Besides gold loans, outstanding credit extended by NBFCs to the commercial sector registered the second-highest growth, increasing 40.2 per cent year-on-year to Rs 1.19 lakh crore in May from Rs 85,317 crore in May 2025.   

Credit to agriculture and allied activities also remained robust, rising 17.9 per cent year-on-year in May 2026, significantly higher than the 5.0 per cent growth recorded in the corresponding period last year. However, lending to the industrial sector slowed to 7.3 per cent in May from 10.0 per cent a year ago, mainly due to weaker growth in infrastructure financing. Similarly, credit growth to the services sector also moderated, easing to 16.7 per cent year-on-year in May from 23.9 per cent in the corresponding month of 2025.

The CNX Nifty is currently trading at 24286.50, down by 112.20 points or 0.46% after trading in a range of 24207.20 and 24300.00. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Eternal up by 1.31%, Wipro up by 1.09%, Bajaj Auto up by 0.89%, Adani Ports up by 0.73% and Hindalco Industries up by 0.65%. On the flip side, JIO Financial down by 2.27%, Interglobe Aviation down by 2.16%, Shriram Finance down by 1.84%, ITC down by 1.75% and Maruti Suzuki India down by 1.61% were the top losers.

Asian markets were trading mixed; Taiwan Weighted added 255.3 points or 0.56% to 45,734.41, Shanghai Composite strengthened 4.73 points or 0.12% to 3,994.97, Hang Seng advanced 696.11 points or 2.96% to 24,193.00 and Straits Times rose 45.37 points or 0.85% to 5,387.61. However, Nikkei 225 slipped 871.96 points or 1.28% to 67,385.00, Jakarta Composite plunged 66.35 points or 1.12% to 5,920.15 and KOSPI dropped 348.87 points or 4.56% to 7,307.44.