SENSEX, NIFTY EXTEND LOSING STREAK TO FOURTH DAY AMID US-IRAN TENSIONS

Published on Jun 01, 2026 15:56

The headline equity benchmark ended sharply lower on Monday, extending their losing streak to a fourth consecutive session, as investors remained cautious amid escalating geopolitical tensions in the Middle East. Market sentiment was further dampened by a sharp rise in Brent crude oil prices and the weakening of the rupee, which heightened concerns over inflationary pressures on the domestic economy.

The Nifty settled below the 23,400 level. Among sectoral indices, FMCG, PSU Bank and realty shares declined, while IT, media and metal shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 508.40 points or 0.68% to 74,267.34. The Nifty 50 index fell 165.15 points or 0.70% to 23,382.60. In four consecutive trading sessions, the Sensex tanked 2.90% while the Nifty fell 2.70%.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index tumbled 1.43% and the BSE 250 SmallCap Index slumped 0.87%.

The market breadth was weak. On the BSE, 1,595 shares rose and 2,757 shares fell. A total of 205 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 2.20% to 16.54.

In the commodities market, Brent crude for Aug 2026 settlement jumped $2.81 or 3.08% to $93.93 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.9425 compared with its close of 94.8500 during the previous trading session.

Economy:

India�s manufacturing sector recorded stronger growth in May, with final figures surpassing earlier flash estimates. The HSBC India Manufacturing PMI rose to 55.0, up from 54.7 in April and the flash reading of 54.3, marking the best improvement in three months.

GST Collections rose 3.2% YoY to Rs 1.94 lakh crore in May 2026 compared with Rs 1.88 lakh crore in May 2025. Gross Central GST (CGST) collection from domestic transactions during the reported month stood at Rs 37,397 crore, State GST (SGST) at Rs 45,143 crore and Integrated GST (IGST) at Rs 51,990 crore.

Buzzing Index:

The Nifty FMCG index dropped 2.37% to 48,213.45. The index tumbled 4% in three consecutive trading sessions.

Dabur India (down 4.33%), Colgate-Palmolive (India) (down 3.66%), Hindustan Unilever (down 3.2%), Tata Consumer Products (down 2.99%), United Breweries (down 2.78%), ITC (down 2.65%), Nestle India (down 2.17%), Marico (down 2.04%), Godrej Consumer Products (down 1.99%) and Patanjali Foods (down 1.84%) ddeclined.

Auto sales :

TVS Motor Company shed 0.17%. The company has recorded monthly sales of 566,585 units in May 2026 with a growth of 31% as against 431,275 units in May 2025.

Mahindra & Mahindra declined 2.40%. The company said that its overall auto sales for the month of May 2026 stood at 99,636 vehicles, a growth of 20% as compared with the sales figure of 83,010 units recorded in May 2025.

Meanwhile, M&M�s Farm Equipment Business (FEB) has recorded domestic sales of 47,845 units in May 2026 as against 38,914 units in May 2025, reflecting a 23% year-on-year growth. Exports for the month stood at 1,850 units, up 7% YoY.

Maruti Suzuki India slipped 1.31%. The company reported a 34.76% jump in total sales to 2,42,688 units in May 2026 compared with 1,80,077 units in May 2025.

VST Tillers Tractors added 1.35% after the company reported a 28.28% year-on-year increase in total sales for May 2026, with overall volumes rising to 4,472 units from 3,486 units in May 2025.

Hyundai Motor India lost 2.21%. The company has reported 4.15% increase in total sales for May 2026, selling 61,137 units during the month as against 58,701 units sold in the same period last year.

Escorts Kubota slipped 2.40%. The company reported an 18.9% year-on-year increase in tractor sales for May 2026, with total volumes rising to 12,310 units compared to 10,354 units in May 2026.

Stocks in Spotlight:

Zee Entertainment Enterprises (ZEEL) gained 3.35% after securing exclusive rights to broadcast 39 FIFA events in India through 2034, including the FIFA World Cup 2026, FIFA World Cup 2030 and FIFA Women`s World Cup 2027.

PTC Industries surged 14.87% after the company�s consolidated net profit surged 143.83% to Rs 59.91 crore in Q4 FY26 from Rs 24.57 crore in Q4 FY25. Revenue from operations jumped 84.95% YoY to Rs 225.47 crore in the quarter ended 31st March 2026.

NMDC Steel soared 12.94% after the company reported a sharp turnaround in its March quarter earnings, aided by higher sales. On a standalone basis, the company posted a net profit of Rs 391.91 crore in Q4 FY26 compared with a net loss of Rs 473.39 crore in Q4 FY25. It also returned to profitability on a sequential basis from a net loss of Rs 243.97 crore in Q3 FY26. Revenue from operations jumped 36.67% YoY and 28.97% QoQ to Rs 3,879 crore in the March 2026 quarter.

Indo Count Industries jumped 7.73% after the company�s consolidated net profit jumped 15.02% to Rs 24.20 crore on 3.43% rise in revenue from operations to Rs 1,057.67 crore in Q4 FY26 compared with Q4 FY25. Further, the finance ministry on Saturday said all customs duties on cotton imports will be waived from 1 June 2026 to 30 October 2026. The move is aimed at boosting cotton supplies for textile exporters amid strong global demand for yarn.

Rubicon Research climbed 19.28% after the company�s consolidated net profit soared 100% to Rs 76.78 crore on 43.49% increase in revenue from operations to Rs 513.91 crore in Q4 FY26 over Q4 FY25.

Indo Count Industries gained 7.24% after the company�s consolidated net profit jumped 15.02% to Rs 24.20 crore on 3.43% rise in revenue from operations to Rs 1,057.67 crore in Q4 FY26 compared with Q4 FY25.

Puravankara slipped 2.40%. The company said it has signed a joint development agreement (JDA) for an 11.23-acre land parcel in Doddagubbi, North Bengaluru.

Godrej Properties (GPL) declined 2.73%. The company said it has won the bid for a 23.2-acre residential land parcel in the DMIC Integrated Township in Greater Noida through an e-auction conducted by DMIC Integrated Industrial Township Greater Noida.

Antony Waste Handling Cell lost 1.03% after the company reported 18.73% decline in consolidated net profit to Rs 32.51 crore in Q4 FY26 compared with Rs 40 crore posted in Q4 FY25. Revenue from operations increased 17.76% YoY to Rs 285.76 crore in Q4 FY26.

Olectra Greentech rallied 4.61% after the company reported a strong performance for the quarter ended 31 March 2026. The company�s consolidated net profit surged 164.38% to Rs 55.52 crore on 43.62% jump in revenue from operations to Rs 644.72 crore in Q4 FY26 over Q4 FY25.

Global Markets:

Most European markets traded higher despite escalating geopolitical tensions after Israel ordered its troops to push deeper into Lebanon on Sunday, while the United States and Iran exchanged strikes overnight.

Asian markets ended mostly higher on Monday, with South Korean stocks hitting a fresh record high and outperforming the broader Asia-Pacific region. Investor sentiment remained cautious amid lingering uncertainty over U.S.-Iran negotiations after President Donald Trump said he was in �no hurry� to reach a deal aimed at ending the conflict.

The U.S. and Iran have still not finalized an agreement to end the conflict, Trump said in an interview with his daughter-in-law, Lara Trump, on media channel Saturday. He added that he is pressing for a deal that would ensure Iran never acquires a nuclear weapon.

While he said he would prefer a swift resolution, he stressed that he was not rushing negotiations and warned that military action could resume if talks collapse.

Meanwhile, in China, manufacturing activity expanded faster than expected in May, according to a private survey released Monday, although growth slowed from the previous month and contrasted with softer official data pointing to weaker momentum in the sector.

The RatingDog China General Manufacturing Purchasing Managers� Index, compiled by S&P Global, came in at 51.8, a touch above the expected 51.6 figure that was widely reported in the media.

Last Friday on Wall Street, U.S. equities closed at record highs while crude prices slipped, helping the major averages score a winning month, boosted by technology.

The Nasdaq Composite settled up 0.2% at 26,972.62, while the S&P 500 climbed 0.22% to 7,580.06. The Dow Jones Industrial Average finished up 363.49 points, or 0.72%, at 51,032.46. All three indexes hit fresh all-time intraday highs earlier as well.