Market Midday, 8 June 2026: Nifty, Sensex Decline As Iran Missile Strike On Israel Hits Sentiment

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Summary

Stock markets traded lower on renewed West Asia tensions after reports of Iranian missile strikes on Israel. Broader markets also saw a decline. Read more.

Equity benchmarks traded sharply lower in late morning deals on Monday after renewed tensions in West Asia dented investor sentiment and triggered broad-based selling across sectors.

The decline came after reports that Iran fired missiles at Israel, hurting hopes of a possible peace agreement between Washington and Tehran and raising fresh concerns over the durability of the ceasefire in the region.

At 12:33 pm:

Broader market indices also remained under pressure, indicating cautious sentiment among investors. At 12:33 pm, the Nifty Midcap 100 index was trading 0.45% lower, while the Nifty Smallcap 100 index was down 0.95%.

Top Stocks On Nifty 50

At 12:35 pm, the top five stocks on the Nifty 50 index were:

Stock-Specific Action

  • Tata Steel shares fell over 2% in early trade amid reports of significant delays in its low-carbon steel project in the UK.

  • Lenskart Solutions' shares declined more than 2% intraday after Copthall Mauritius Investment sold a stake in the company through a ₹96 crore block deal.

  • Wipro shares fell more than 5% in intraday trade, thus extending their losses for the second consecutive session.

Dividend Stocks To Watch

Several companies have upcoming record dates for dividend payments this week (see table):

IPO Corner

Three initial public offerings (IPOs) in the SME segments will hit D-street this week (see table):

Also, Zepto is likely to file its updated draft red-herring prospectus with the Securities and Exchange Board of India (SEBI) early next week. It is also preparing to conduct roadshows soon after the filing. The Zepto IPO is likely to hit the market either this month or in July.

Also Read - SEBI Examines Broker Capital Norms, IPO Auction Mechanism Amid Market Growth

Afternoon Trade Outlook

Market direction during the second half of the session is likely to remain linked to developments in West Asia. Traders are likely to closely track any fresh headlines related to Iran and Israel, as geopolitical news flow continues to influence global risk sentiment.

Sources:

Business Standard

NDTV Profit

Moneycontrol

This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, visit https://www.kotakneo.com/disclaimer/

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