Market Open, June 23, 2026: Sensex, Nifty Open Marginally Lower on Tuesday as IT and Metal Stocks Weigh; Iran Optimism Limits Downside

Mumbai, June 23: Indian benchmark indices opened Tuesday’s session on a subdued note, weighed down by continued selling pressure in technology and metal stocks against a backdrop of mixed global cues, even as fresh optimism around the US-Iran peace process helped contain the losses.  

The BSE Sensex was trading at 77,038.72, down 55.35 points or 0.07%, while the NSE Nifty 50 stood at 24,087.00, lower by 15.90 points or 0.07%, as of 9:25 am, a restrained start that reflected caution rather than conviction on either side, with market participants digesting a 60-day Iran sanctions waiver announced overnight and awaiting clearer signals on global trade and the trajectory of crude oil prices. 

Gainers & Losers 

Among the early Nifty 50 gainers, Dr Reddy’s Laboratories (DRREDDY) led with an LTP of ₹1,310.10, up 1.50% from a previous close of ₹1,290.70, as pharma stocks found buying interest on the Iran diplomacy narrative. Trent (TRENT) gained 1.23%, trading at ₹3,219.70 against a prior close of ₹3,180.60; Adani Enterprises (ADANIENT) added 0.86% to ₹3,086.00 from ₹3,059.60; Eternal (ETERNAL) was up 0.63% to ₹265.30 from ₹263.65; and Adani Ports (ADANIPORTS) rose 0.62% to ₹1,838.50 from ₹1,827.20.  

On the losing side, Infosys (INFY) was the steepest decliner, falling 2.17% to an LTP of ₹1,042.30 from a previous close of ₹1,065.40, as IT stocks extended their recent slide. Hindalco (HINDALCO) dropped 2.15% to ₹992.40 from ₹1,014.20; TCS shed 1.27% to ₹2,100.80 from ₹2,127.80; HCL Technologies (HCLTECH) fell 1.21% to ₹1,116.80 from ₹1,130.50; and Tata Steel (TATASTEEL) declined 1.11% to ₹196.76 from ₹198.97. 

Broader Markets & Sectoral Indices   

In the broader market, the picture was somewhat more resilient than the large-cap indices suggested. The Nifty Midcap Select gained 0.18% to 14,656.95, the Nifty Smallcap 100 advanced 0.24% to 18,942.95, and the Nifty Midcap 100 edged up 0.14% to 62,815.75, indicating that mid- and small-cap stocks were seeing selective buying even as the headline indices dipped. Among the broader large-cap benchmarks, the Nifty 100 fell 0.11% to 25,180.70, the Nifty 200 eased 0.06% to 13,966.25, and the Nifty 500 slipped marginally 0.01% to 23,259.50.  

On the sectoral front, Nifty Pharma was the top gainer, rising 0.90% to 24,986.00, followed by Nifty Healthcare Index up 0.81% to 15,960.55 and Nifty Media adding 0.35% to 1,542.35. The drag came from Nifty IT, which fell 1.32% to 27,263.10 as IT heavyweights continued to bleed, Nifty Metal which declined 1.22% to 12,931.15 on weaker commodity sentiment, and Nifty FMCG which eased 0.21% to 49,249.15. 

Iran War 

The US on Monday announced a 60-day waiver on Iran sanctions, allowing Tehran to sell oil and petrochemical products and receive payment through at least August 21, which was the first concrete economic relief measure under the nascent interim peace deal struck last week. US Vice President JD Vance said the Buergenstock talks had laid “a very good foundation” for a final agreement, with Tehran agreeing in principle to nuclear inspections and the establishment of mechanisms to manage frozen assets abroad, though Iran’s Foreign Ministry denied that nuclear issues had been formally discussed. A sustained lull in fighting in Lebanon was reported since Saturday night, offering markets a fragile but welcome sign of de-escalation, even as technical talks continued through the week and Israel-Lebanon negotiations were separately scheduled to begin in Washington on Tuesday. 

Asian & US Markets 

Asian markets were largely in the red on Tuesday morning, with Japan’s Nikkei 225 falling 0.91% to 71,693.41, Hong Kong’s Hang Seng declining 0.44% to 23,664.34, Malaysia’s FTSE Bursa KLCI slipping 1.06% to 1,693.95, and Indonesia’s JSX Composite dropping 0.98% to 6,116.69, as the region digested the sharp slide in crude oil prices following the Iran sanctions waiver.  

On Wall Street, Monday’s session was split. The Dow Jones Industrial Average added 0.29% to 51,712.71 and the NYSE Composite gained 0.41% to 23,596.22, while the Nasdaq Composite fell 1.32% to 26,166.60 and the S&P 500 declined 0.37% to 7,472.79, as technology stocks came under pressure even as rate-sensitive and defensive names found buyers. 

Oil Prices 

Oil prices posted a modest recovery on Tuesday after the previous session’s sharp 3%-plus decline, with Brent crude gaining 0.38% to $78.15 a barrel and US West Texas Intermediate rising 0.46% to $74.19 a barrel in early Asian trade, according to Reuters. Monday’s steep fall was triggered by the US granting Iran a 60-day sanctions waiver, which markets read as a step toward restoring Iranian crude exports to global markets and easing the supply squeeze centred on the Strait of Hormuz. Analysts cautioned that residual scepticism over the durability of the Washington-Tehran accord meant that any full normalisation of Hormuz flows was likely to be protracted, keeping oil price volatility elevated in the near term. 

Sensex & Nifty on Monday  

Indian benchmark indices had ended Monday’s session in positive territory, with the BSE Sensex rising 291.17 points, or 0.38%, to close at 77,094.07, while the NSE Nifty 50 gained 89.80 points, or 0.37%, to settle at 24,102.90, reclaiming the psychologically important 24,100 mark. The recovery was broad-based, driven by buying in pharmaceutical, media, information technology, energy, and other sectors, with heavyweights such as Reliance Industries lending meaningful support to the benchmarks. Market breadth was comfortably positive, with approximately 2,500 stocks advancing, 1,688 declining, and 179 remaining unchanged on the NSE. 

Sources

• NSE India, BSE India,