SENSEX SINKS 1,000 PTS, NIFTY SLIPS BELOW 23,900 AS OIL SURGE RATTLES MARKETS

Domestic equity benchmarks ended sharply lower on Friday, extending their losing streak to a third straight session as global uncertainty kept investors on edge. Sentiment remained fragile amid stalled US-Iran negotiations and lingering concerns over the Strait of Hormuz, pushing crude oil prices above the $107-per-barrel mark and sustaining pressure on the rupee and institutional flows.

The S&P BSE Sensex plunged 999.79 points or 1.29% to close at 76,664.21, while the Nifty 50 fell 275.10 points or 1.14% to settle at 23,897.95, slipping below the crucial 23,900 level. Over the three straight sessions, the Sensex and Nifty have declined 3.29% and 2.76%, respectively.

Through the day, the Nifty showed a clear downward bias, opening at 24,100.55 and briefly touching a high of 24,206 before sliding to an intraday low of 23,813.65, with selling pressure persisting across most of the session. The decline was led by heavy selling in IT stocks, while all sectoral indices on the NSE ended in the red, reflecting a broad-based risk-off sentiment rather than any specific domestic trigger.

Market participants are now closely tracking Q4 earnings for directional cues, even as global developments around crude oil and geopolitics continue to dictate near-term market trends.

In the broader market, the BSE 150 MidCap Index slipped 0.94% and the BSE 250 SmallCap Index dropped 1.17%.

The market breadth was weak. On the BSE, 1,326 shares rose and 2,905 shares fell. A total of 165 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, surged 6.03% to 19.71.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.33% to 6.974 compared with the previous session`s close of 6.951.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.2300 compared with its close of 94.0150 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement shed 0.20% to Rs 151,450.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.12% to 98.71.

The United States 10-year bond yield advanced 0.21% to 4.334.

In the commodities market, Brent crude for June 2026 settlement jumped $2 or 1.90% to $107.07 a barrel.

Global Markets:

US Dow Jones futures are down 145 points, indicating a negative opening for Wall Street later today.

European shares also traded lower on Friday as investors stayed on the sidelines ahead of another wave of corporate earnings, with companies like Eni, Orange and Volvo set to report their financial performance. In the UK, retail sales offered a positive surprise, rising 0.7% in March, according to data from the Office for National Statistics.

Across Asia, most indices ended in the red as hopes of a near-term resolution to the Iran conflict faded, keeping concerns around potential oil supply disruptions alive.

On the geopolitical front, Israel and Lebanon agreed to extend their ceasefire by three weeks following discussions at the White House with senior US officials, President Donald Trump said on Thursday. The truce, initially set for 10 days, has been prolonged to allow more time for diplomatic negotiations, with the US also committing support to bolster Lebanon�s defenses against Hezbollah.

In Japan, core inflation picked up pace for the first time in five months, rising to 1.8% in March from 1.6% in February, largely driven by energy-related pressures linked to the Iran conflict. The reading was in line with market expectations.

Overnight in the US, equities ended lower as rising oil prices and uncertainty around the Iran situation weighed on sentiment. The S&P 500 slipped 0.41% to close at 7,108.40 after hitting a record intraday high earlier in the session. The Nasdaq Composite fell 0.89% to 24,438.50, while the Dow Jones Industrial Average declined 179.71 points, or 0.36%, to settle at 49,310.32.

Stocks in Spotlight:

IT stocks came under sharp selling pressure after Infosys issued a muted revenue outlook for FY27, signalling a slower demand environment and weakening deal momentum.

The Nifty IT index declined 5.29% to 28,530.60, sliding 10.08% in three consecutive sessions.

Infosys (down 6.92%), Persistent Systems (down 6.34%), Coforge (down 5.66%), Tata Consultancy Services (down 4.79%), Mphasis (down 4.39%), Tech Mahindra (down 4.20%), HCL Technologies (down 4.08%) and Wipro (down 1.63%) plunged.

Infosys dropped 6.92%. The company reported a 27.75% increase in consolidated net profit to Rs 8,501 crore on a 2.02% rise in revenue from operations to Rs 46,402 crore in Q4 FY26 compared with Q3 FY26.

Infosys guided for revenue growth of 1.5%-3.5% in constant currency terms for FY27, lower than its earlier guidance of 3.0%-3.5%, while maintaining its operating margin outlook at 20%-22%. Adding to the concerns, the total contract value (TCV) of large deal wins fell to $3.2 billion in Q4 FY26 from $4.8 billion in Q3 FY26, indicating softer deal conversion and pipeline visibility.

LTM (formerly LTIMindtree) declined 5.06%. The company reported a 44.57% surge in consolidated net profit to Rs 1,387.3 crore despite a 4.74% jump in revenue from operations to Rs 11,291.7 crore in Q4 FY26 over Q3 FY26.

Cyient slipped 7.04% after the company reported a 32.61% fall in consolidated net profit to Rs 65.5 crore despite a 3.94% rise in total income to Rs 1,953.5 crore in Q4 FY26 over Q3 FY26.

Tata Capital declined 1.59%. The company has reported 42.8% rise in consolidated net profit to Rs 1,502 crore on an 8.7% increase in total income to Rs 8,163.29 crore in Q4 FY26 as compared with Q4 FY25.

CIE Automotive India declined 2.57%. The company reported a 20.82% rise in consolidated net profit to Rs 249.37 crore on a 14.93% increase in revenue from operations to Rs 2,611.95 crore in Q1 CY26 compared with Q1 CY25.

Indian Energy Exchange (IEX) fell 3.07%. The company has reported 10.8% rise in consolidated net profit to Rs 129.77 crore on a 22.5% increase in net sales to Rs 174.30 crore in Q4 FY26 as compared with Q4 FY25.

Lux Industries declined 7.48% to Rs 1625 after the company disclosed a restructuring plan following a family settlement among its promoters. Members of the Todi family promoter group entered into a Family Settlement Agreement on 22 April 2026 to realign ownership, management and business interests. The company clarified it is not a party to the agreement, though the changes will shape its future structure. The agreement involves three promoter branches - Ashok Kumar Todi (AKT), Pradip Kumar Todi (PKT) and Navin Kumar Todi (KKT) families.

Himadri Speciality Chemical zoomed 5.17% after the company reported a 29.05% year-on-year rise in consolidated net profit at Rs 200.79 crore for Q4 FY26, compared with Rs 155.58 crore in the corresponding quarter last year.

Aditya Birla Sun Life AMC added 2%. The company�s consolidated net profit declined 17.96% to Rs 187.11 crore in Q4 FY26 as against Rs 228.08 crore in Q4 FY25. However, revenue from operations jumped 6.85% year on year to Rs 458.23 crore in Q4 FY26.

UTI Asset Management Company (UTI AMC) tumbled 7.91% after the AMC reported a consolidated net loss of Rs 67 crore in Q4 FY26 as against a net profit of Rs 87 crore in Q4 FY25. Total revenue from operations rose by 4% YoY to Rs 390 crore in the March 2026 quarter.

Atul Auto gained 3.93% after the company entered into a memorandum of understanding (MoU) with Exponent Energy to manufacture and supply 15,000 electric three-wheelers integrated with the latter`s battery system and powertrain.