Market Midday, 29 June 2026: Sensex, Nifty Under Pressure

Benchmark equity indices were under pressure during afternoon trade as investors closely tracked renewed geopolitical tensions in West Asia. Traders refrained from taking aggressive positions. They monitored developments in the region. At 12:49 pm, the:

• Sensex was down 0.46%

• Nifty 50 was down 0.42%

Weakness was there in the border markets as well. At 12:50 pm, the Nifty Midcap 100 index was down 0.87%, while the Nifty Smallcap 100 index was down 0.91% at the same time.

Top Stocks On Nifty 50

The following stocks emerged as the top five performers on the Nifty 50 index at 12:50 pm:

• Cipla Ltd.

• Dr. Reddy's Laboratories Ltd.

• Max Healthcare Institute Ltd.

• Hindalco Industries Ltd.

• Eternal Ltd.

Stock-Specific Action

• Persistent Systems shares tumbled 7% in early trade after the company offered to buy German entity Nagarro for 1 billion euros.

• Astral Ltd shares were down 6% in early trade in intraday deals after the company announced a major restructuring of its business.

• Power Finance Corporation Ltd (PFC) and REC shares declined 1.83% and 0.32% in early deals after state-run lenders approved their merger with a combined loan book of over ₹11 lakh crore.

• Kotak Mahindra Bank shares fell over 3% in early trade after its manager and chief executive officer (CEO), Ashok Vaswani, decided against seeking reappointment after the expiry of his current tenure.

IPO Corner

In the primary markets:

• Aastha Spintex's initial public offering (IPO) opened for subscription today. Through its IPO, the company is planning to raise ₹170 crore.

• Adon Agro Commodities and Twinkle Papers IPOs also opened for bidding today. Through the IPOs, the companies are planning to raise ₹44.03 crore and ₹27.52 crore, respectively.

Also Read- Torrent Gas, Sathya Agencies, Kanohar Electricals IPOs Get SEBI Approval; Public Issues Move a Step Closer

Afternoon Trade Outlook

Markets are likely to remain rangebound through the rest of the session as investors continue to track developments in West Asia. Any escalation in geopolitical tensions could keep risk appetite subdued and lead to increased volatility.

Sources:

Business Standard

The Economic Times

CNBC TV18