Indian equities ended lower after giving up morning gains. The Nifty 50 fell 85.30 points, or 0.36%, to 23,329, while the Sensex declined 329.91 points, or 0.44%, to 74,529.08. The market’s four-session Nifty winning streak ended.

Nifty 50

Close: 23,329 | -0.36%

Nifty opened higher as crude oil prices eased and US Treasury yields softened, but selling emerged at higher levels. IT stocks were the major drag, while foreign outflows and geopolitical uncertainty kept sentiment cautious.

Bank Nifty

Bank Nifty also weakened during the session, with financial stocks contributing to the broader market decline. HDFC Bank provided some support, while ICICI Bank and SBI were among the larger index drags.

Sector Performance

Biggest Pressure: IT

Nifty IT was the major weak spot. The sector declined around 0.9% at the close, with HCLTech, Infosys, TCS, and Tech Mahindra under pressure.

Concerns included elevated US Treasury yields, emerging-market fund outflows, cautious IT demand expectations, and continuing debate around AI’s impact on technology spending.

Relative Strength: Metals & Realty

Metal and Realty stocks bucked the broader weakness. Falling crude prices helped the broader inflation/import-cost outlook, while individual company developments also supported some stocks

Stocks up Today :

Transrail Lighting — +14.44%
The immediate catalyst was the company’s 70% increase in conductor manufacturing capacity at its Silvassa facility, with further expansion planned. The move also comes amid strong investor interest in India’s transmission and distribution capex cycle

Meesho — +9.79%
Meesho rallied after UBS raised its target price by 24% to ₹260, citing strong Q1 performance, user growth and expansion of its seller ecosystem. The stock touched around ₹245 during the session

Protean eGov Technologies — +6.51%
Protean gained despite weak Q1 profit numbers; revenue from operations increased 19% YoY to ₹251 crore, while the company was also holding its AGM today. The move therefore appears to reflect buying interest despite the earnings decline rather than a clearly identified fresh positive announcement.

Pace Digitek –  + 9%

Pace Digitek Wins ₹488.46 Crore BESS Order From NTPC GE Power Services

Major Market News Today

1. Oil prices remain a major market trigger

Brent crude fell about 1.5% to $98.9 a barrel after reports suggested possible US-Iran diplomatic engagement and discussion around reopening the Strait of Hormuz. Lower crude is important for India because it can ease import-cost and inflation concerns.

2. US-Russia sanctions remain an India risk

The recently enacted US sanctions legislation gives the Trump administration the ability to impose tariffs of up to 100% on countries buying Russian oil and gas. This remains an important risk for Indian exporters, refiners and the rupee.

3. IT sector under pressure

IT stocks remained the biggest drag as investors assessed weaker discretionary technology demand, high US yields and the potential impact of AI on traditional IT services.

4. Derivatives expiry and closing volatility

Tuesday’s session saw additional volatility around the NSE weekly derivatives expiry. Reuters reported that proposed changes to derivatives settlement are intended to address expiry-day volatility, although market participants have raised implementation concerns.

Global Market Watch

US

US markets remained focused on oil prices, inflation expectations, Treasury yields, and US-Iran developments. The market is also watching US-China discussions and upcoming geopolitical developments around the UN General Assembly.

China

The yuan strengthened to its strongest level since 2023 as investors watched potential Xi Jinping–Trump discussions and broader US-China economic relations.

Iran / Middle East

The possibility of diplomatic engagement between the US and Iran has become an important crude-oil market catalyst. Any development affecting the Strait of Hormuz could have a significant impact on global energy prices.