Stock Market Close, June 29, 2026: Sensex, Nifty Drop After Two-session Run as Middle East and Oil Shake Sentiment

Mumbai, June 29: Indian benchmark indices snapped their two-session winning streak on Monday, with the Nifty closing below the 24,000 mark as selling in auto, banking and IT stocks outweighed gains in pharmaceutical and metal counters. 

The Sensex fell 372.10 points, or 0.48%, to settle at 76,728.37, while the Nifty 50 declined 109.75 points, or 0.46%, to end at 23,946.25. Market breadth remained weak, with 2,471 stocks declining, 1,681 advancing and 202 remaining unchanged on the NSE. 

The subdued close came amid cautious global sentiment as investors assessed renewed geopolitical tensions in the Middle East and as crude oil prices climbed, while booking profits after the market’s recent gains. 

Auto leads the decline 

Auto stocks bore the brunt of the selling, with the Nifty Auto index falling 2%. Heavyweights including Mahindra & Mahindra and Maruti Suzuki featured among the top losers on the benchmark index. 

Sensex declined as oil climbed and the Middle East looked iffy after fresh hostilities shook the region. Source: BSE 

Financial stocks also remained under pressure, dragging the broader market lower. Kotak Mahindra Bank emerged as the biggest Nifty loser after the lender announced that Managing Director and CEO Ashok Vaswani would not seek reappointment after his current term ends in December 2026. 

The Nifty PSU Bank, Media, IT and Oil & Gas indices each declined around 1%, reflecting broad-based selling across rate-sensitive and cyclical sectors. 

Pharma, metal stocks outperform 

Pharmaceutical and metal stocks bucked the broader weakness, providing some support to the benchmarks. 

Dr Reddy’s Laboratories was among the top Nifty gainers after investors welcomed the outcome of a recent inspection by the US Food and Drug Administration (USFDA) at its biologics manufacturing facility in Hyderabad. Max Healthcare, Coal India, Eternal and Trent also finished among the day’s top gainers. 

The Nifty Pharma, Healthcare and Metal indices each advanced about 1%, aided by stock-specific buying and defensive positioning amid uncertainty in global markets. 

Broader markets also end lower 

The weakness extended beyond the benchmark indices, with the Nifty Midcap 100 falling 0.4% and the Nifty Smallcap 100 declining 0.6% as investors trimmed exposure to broader market stocks after their recent outperformance. 

Nifty 50 ended lower as auto stocks revved down together with IT and financials. Source: NSE 

Among individual stocks, Hexaware Technologies rallied after announcing a strategic partnership with AI startup Anthropic, while Vikran Engineering surged after securing a Rs 3,518-crore EPC contract for a solar power project in Maharashtra. Yes Bank gained following positive brokerage commentary, whereas Vodafone Idea snapped its losing streak with a jump after unveiling a customer engagement partnership with Spotify. 

Investors are now expected to continue monitoring crude oil prices, foreign institutional investor (FII) flows and global geopolitical developments. 

With the Nifty slipping back below the psychologically important 24,000 level, traders are likely to remain cautious in the near term, particularly as climbing oil prices and global uncertainties continue to cloud market sentiment. 

Source

•  NSE, BSE