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SENSEX DROPS 573 PTS; METAL SHARES LOSE SHEEN

Published on Jun 08, 2026 11:34

The key equity barometers traded with major losses in mid-morning trade, mirroring a broad selloff across Asian markets amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Nifty traded below the 23,200 level. Metal shares extended losses for the fourth consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 573.14 points or 0.77% to 73,665.99. The Nifty 50 index fell 177.30 points or 0.76% to 23,189.40.

In the broader market, the BSE 150 MidCap Index declined 0.75% and the BSE 250 SmallCap Index shed 0.86%.

The market breadth was weak. On the BSE, 1,528 shares rose and 2,505 shares fell. A total of 203 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, jumped 7.58% to 16.99.

In the commodities market, Brent crude for August 2026 settlement rose $4.54 or 4.88% to $97.63 a barrel after Israel launched fresh attacks on Lebanon over the weekend despite a ceasefire, raising concerns over regional stability and the smooth flow of oil shipments through the strategically important Strait of Hormuz.

Buzzing Index:

The Nifty Metal index fell 1.41% to 13,035.65. The index declined 3.85% over four consecutive trading sessions.

National Aluminium Company (down 3.02%), Steel Authority of India (down 3%), NMDC (down 2.17%), Jindal Stainless (down 2.07%), Hindalco Industries (down 2.03%), Vedanta (down 1.98%), Welspun Corp (down 1.94%), Hindustan Copper (down 1.77%), Lloyds Metals & Energy (down 1.35%) and JSW Steel (down 1.26%) fell.

Stocks in Spotlight:

Career Point Edutech added 0.49%. The company secured a contract worth Rs 1.51 crore from the Vasantrao Naik Research and Training Institute (VANARTI), a Maharashtra government undertaking.

Admach Systems rose 0.02%. The company announced that it has received a purchase order worth Rs 1.65 crore for a main system & automatic calibration station from a domestic customer in the steel industry.

Global Markets:

Asian markets traded lower on Monday, as escalating tensions in the Middle East weighed on investor sentiment. The decline came after Israel launched retaliatory strikes on targets in western and central Iran, raising fears of a broader regional conflict and prompting a risk-off mood across global markets.

On Friday, the Nasdaq Composite fell 4.18% to 25,709.43�its biggest drop since April 2025. The S&P 500 sank 2.64% to close at 7,383.74, and the Dow lost 695 points to end the week at 50,866.78, a day after hitting a new high.

The decline on Friday came after a stronger-than-anticipated U.S. jobs report for May pushed Treasury yields higher, fueling concerns that elevated borrowing costs could pressure companies making substantial investments in artificial intelligence infrastructure.

In the coming week, market participants will closely track inflation data and the highly anticipated public debut of Elon Musk�s SpaceX on Friday.

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