Market Midday, 11 June 2026: Benchmarks Erase Early Losses

Equity benchmarks erased losses in mid-session on Thursday. Escalating tensions between the United States and Iran affected investor sentiment in morning trade, resulting in a risk-off mood across the market. At 12:24 pm:

• The Sensex was up 0.40%

• The Nifty 50 was up 0.32%

Investor caution increased in early trade after US President Donald Trump signalled a tougher stance against Tehran. Speaking on Wednesday, Trump said Iran had ample time to negotiate a deal with Washington and that such an agreement would have been beneficial for the country.

Broader Markets Under Pressure

However, the broader market appeared to be under pressure. At 12:25 pm, the:

• Nifty Midcap 100 index was down 0.40%

• Nifty Smallcap 100 index was down 0.25%

Top Stocks On Nifty 50

At 12:27 pm, the top five stocks on the Nifty 50 index were:

• ICICI Bank Ltd.

• Kotak Mahindra Bank Ltd.

• Mahindra & Mahindra Ltd.

• Axis Bank Ltd.

• Reliance Industries Ltd.

Stock-Specific Action

• Honasa Consumer shares jumped 6% in early trade after the company outlined the revenue target of ₹5,500 crore by FY31.

• Zee Entertainment shares jumped nearly 4% in early trade after its board approved a fundraising plan worth ₹2,300 crore.

• Dwarikesh Sugar Industries, Dhampur Sugar Mills, Mawana Sugars, Balrampur Chini Mills, and Dalmia Bharat Sugar & Industries shares rose in the range of 3% to 4% in intraday trade after the Finance Ministry exempted ethanol-blended petrol variants from excise duty.

Other Notable Developments

Some other notable developments include:

• Debt mutual funds accounted for outflows amounting to ₹96,949 crore in May and emerged as the industry's biggest reason for overall outflows for the month.

• Gold exchange-traded funds witnessed outflows amounting to ₹725 crore in May and broke the 13-month streak of positive inflows.

• The ₹15,000-crore share buyback programme of Wipro will open today, on Thursday, and will remain open till 17 June.

• City Union Bank has set 12 June as the record date for its bonus issue available in the ratio 1:3.

Also Read - Urea Import Bids Fall Over 50% As China Opens Up Exports; Relief For India's Fertiliser Subsidy Bill

Afternoon Trade Outlook

Markets are likely to remain sensitive to headlines related to the US-Iran situation through the rest of the trading session. Traders will watch for any further statements from US and Iranian officials, which could influence sentiment and market direction during the remaining trading session.

Sources:

Business Standard

The Economic Times