Market Wrap, 8 June 2026: Nifty, Sensex Slide Amid West Asia Tensions

Equity benchmarks ended the day in the negative territory. This as escalating tensions in West Asia kept investors on edge. At the closing bell:

• Nifty 50 stood at 23,123.00, down 1.04%

• Sensex stood at 73,524.26, down 0.97%

Broader markets also saw selling pressure. The Nifty Midcap 100 index fell 1.40%. The Nifty Smallcap 100 index dropped 1.92%.

Realty And Metal Stocks Decline

Sectoral performance remained largely negative. Real estate and metal stocks emerged as the biggest laggards.

The Nifty Realty index recorded the sharpest decline among sectoral indices. It declined 2.56%. The Nifty Metal index, which declined 2.33%, came under pressure as investors reduced exposure to economically sensitive sectors.

Why Markets Fell Today?

While the flare-up in tensions in the Middle East was the primary factor behind the market fall today, some other contributing factors were:

• Crashing of global indices such as Kospi (South Korea), Nikkei (Japan), Hang Seng (Hong Kong) and Shanghai Composite (China) in today’s trade, especially in the morning. The Kospi plunge led to a 20-minute trading halt.

• Worries and concerns that the Federal Reserve is unlikely to reduce rates anytime soon.

• Persistent selling from foreign institutional investors (FIIs), who sold equities worth ₹8,776 crore on Friday as per provisional data on the National Stock Exchange (NSE).

• Surge in oil prices with Brent Oil Futures hovering around the USD 100 per barrel mark.

Other Major Headlines

Some of the other major news that made headlines today are:

• The Indian government is looking for private sector investment, including assured power purchase agreements, to boost its nuclear energy expansion plans.

• SpiceJet finalised a lease agreement that would see the airline induct three Airbus A320 aircraft into its fleet on a damp lease basis.

• The automobile retail sales in India rose 9.6% year-on-year (YoY) in May, with vehicle registrations across categories climbing to 25.31 lakh units last month.

• Petroleum Minister Hardeep Singh Puri said that India currently has fuel reserves equivalent to 76 to 80 days of consumption.

• Hardwyn India has announced a bonus issue in the ratio of 2:5 for its shareholders.

• Reliance Industries’ share declined over 1.5% to its 52-week low in intraday trade deals.

• HCL Technologies, LTI Mindtree and TCS shares have slumped 36% down from their February peak. Infosys, Wipro and Persistent Systems stocks have crashed in the 25-32% range on the National Stock Exchange.

Also Read- Adani Ports Wins ₹666 Crore Contract For Argentina's First LNG Export Project

Gold And Silver Watch

Gold and silver prices came under pressure on the Multi-Commodity Exchange of India (MCX) amid escalating tensions between the US and Iran in the Middle East. A rise in crude oil prices also did not help matters.

At 15:37, Gold June futures on the MCX stood at ₹1,53,430 per 10 grams, down 1.39%. July silver futures during the same time stood at ₹2,42,200 per kg, down 2.55%.

Investors are expected to closely track developments in West Asia for fresh market cues. Any escalation in tensions could keep volatility elevated, while signs of stability may help improve risk appetite.

Sources:

Moneycontrol

CNBC TV18

Business Standard

The Economic Times