Market Wrap, 29 June 2026: Sensex And Nifty 50 Tumble Sharply

Equity benchmarks ended the day sharply lower as traders remained focused on renewed geopolitical tensions in West Asia. This weighed on overall market sentiment. At the closing bell, the:

• Nifty 50 stood at 23,946.25, down 0.46%.

• Sensex stood at 76,728.37, down 0.48%.

Broader markets also declined. The Nifty Midcap 100 index fell 0.37%, while the Nifty Smallcap 100 index declined 0.62%.

Sector Performance

The Nifty IT index emerged as a significant loser among sectoral gauges as investors trimmed exposure to technology stocks. Auto and banking shares also remained under pressure. However, the Nifty Pharma, Nifty Metal and Nifty Healthcare indices traded in positive territory (see table). They outperformed the broader market even as most sectors remained weak.

Why Markets Declined Today?

Several factors contributed to the market decline today, including:

• Profit booking as the recent rally left little room for clocking fresh gains.

• Eruption of fresh tension in the Middle East over the weekend.

• Fall in heavyweight auto and information technology (IT) shares in early trade, including Eicher Motors, Mahindra & Mahindra, Tata Motors Passenger Vehicles, Bajaj Auto, Tata Consultancy Services and Infosys.

Other Important Headlines

Some other essential news headlines of the day are as follows:

• Tata Motors aims to sell over 1 million units of commercial vehicles in the coming days as it gears up to integrate the Iveco Group of Italy.

• Hindustan Aeronautics Ltd (HAL) announced a final dividend of ₹10 per equity share for FY 25-26 and has fixed 14 August 2026 as its record date.

• Electric car sales in India are likely to cross the 3 lakh annual sales mark in 2026 for the first time, as per a report.

Also Read- India To Launch First High-Frequency Index For Informal Economy

Gold And Silver Watch

Gold and silver prices dropped on the Multi-Commodity Exchange (MCX) after renewed military strikes between the US and Iran over the weekend. At 15:37, gold August futures on the MCX stood at ₹1,42,628 per 10 grams, down 1.06%. July silver futures during the same time stood at ₹2,18,500 per kg, down 1.31%.

Market participants are likely to keep a close watch on developments in West Asia. Any fresh escalation or signs of easing could influence investor sentiment in the upcoming trading sessions.

Sources:

Business Standard

The Economic Times

Moneycontrol