Indian equity benchmarks extended losses in afternoon trade on Thursday as global sentiment remained fragile and domestic volatility rose ahead of the weekly expiry of Nifty 50 F&O contracts. Markets are also digesting the limited clarity around the partial U.S.–China trade deal, which keeps tariff tensions unresolved.
At 2:14 PM IST, the S&P BSE Sensex had fallen 917.86 points, or 1.11 per cent, to 81,597.28, while the Nifty 50 dropped 302.60 points, or 1.20 per cent, to 24,838.80. Broader market indices witnessed sharper cuts. The S&P BSE MidCap index was down 710.92 points, or 1.53 per cent, at 45,821.30, and the SmallCap index shed 836.55 points, or 1.54 per cent, to 53,444.72.
Market breadth remained firmly negative, with 1,581 stocks advancing, 2,297 declining, and 164 remaining unchanged on the BSE.
Top Nifty 50 gainers and losers
Gainers:
Bajaj Finserv: up 1.99%
Wipro: up 1.13%
Apollo Hospitals: up 1.07%
Tech Mahindra: up 1.06%
ONGC: up 0.98%
Losers:
Tata Motors: down 1.85%
Tata Steel: down 1.71%
Shriram Finance: down 1.57%
Coal India: down 1.48%
Hindustan Unilever: down 1.40%
Stocks in focus
1) Canara Bank slipped 0.26% after reducing its Repo Linked Lending Rate (RLLR) by 50 basis points, bringing it to 8.25%, in response to the RBI’s latest policy decision.
2) Shakti Pumps India rose 3.60% after receiving a ₹114.58 crore order from the Maharashtra Energy Department Agency (MEDA).
3) Sterlite Technologies (STL) rallied 14.27% after bagging a ₹2,631 crore BharatNet contract from BSNL to deploy and maintain middle-mile infrastructure in Jammu & Kashmir and Ladakh.
4) H.G. Infra Engineering fell 0.31%, despite being selected as the lowest bidder for a transmission system project in Odisha.
5) NIBE added 1.25% after receiving a ₹23.33 crore order for supplying military-grade armour plates.
6) Tanla Platforms surged 9.58% ahead of its board meeting on June 16, where a share buyback proposal will be considered.
Global market update
Global cues stayed weak. U.S. Dow Jones futures were down 127 points, hinting at a subdued Wall Street open. European markets opened lower after the UK economy contracted by 0.3% in April, marking its steepest monthly decline since October 2023. Exports from the UK to the U.S. also plunged by £2 billion, the sharpest monthly fall since 1997, largely attributed to new U.S. tariffs.
