Stock Market Mid-Day Report, June 23, 2026: Sensex, Nifty Pare Losses; IT and Metal Drag Offsets Iran Optimism as Asian Markets Bleed

Mumbai, June 23: Indian benchmark indices held near the flatline at midday on Tuesday, staging a modest recovery from the day’s opening lows even as information technology and metal stocks continued to weigh on sentiment.  

The BSE Sensex was at 77,086.00, down just 8.07 points or 0.01%, while the NSE Nifty 50 stood at 24,092.05, lower by 10.85 points or 0.05%, as of 11:41 am, a marked improvement from the 0.07% decline recorded on both benchmarks at the 9:25 am open and a sign that buyers were gradually stepping in at lower levels even as the broader global mood remained cautious. 

Gainers & Losers 

Among the top Nifty 50 gainers at midday, Cipla (CIPLA) led with an LTP of Rs 1,456.30, up 2.87% from a previous close of Rs 1,415.70, as the pharma sector attracted strong buying interest. Sun Pharma (SUNPHARMA) gained 1.81% to Rs 1,896.60 from a previous close of Rs 1,862.90; Asian Paints (ASIANPAINT) added 1.37% to Rs 2,687.30 from Rs 2,674.00; Shriram Finance (SHRIRAMFIN) rose 1.30% to Rs 1,005.80 from Rs 992.85; and ICICI Bank (ICICIBANK) was up 1.15% to Rs 1,368.00 from Rs 1,352.40.  

On the losing side, Infosys (INFY) was the sharpest decliner with an LTP of Rs 1,035.90, down 2.77% from a previous close of Rs 1,065.40. TCS slipped 2.55% to Rs 2,073.50 from Rs 2,127.80; Hindalco (HINDALCO) fell 2.10% to Rs 992.90 from Rs 1,014.20; Tech Mahindra (TECHM) declined 2.03% to Rs 1,406.00 from Rs 1,435.20; and Wipro lost 1.93%, trading at Rs 176.71 against a previous close of Rs 180.18. 

Broad Market and Sectoral Performance 

The broader market was showing a mixed picture at midday, with large-cap indices broadly flat to marginally lower while the small-cap space held up better. Among broad indices in the green, the Nifty Smallcap 100 advanced 0.22% to 18,938.75, while the Nifty 100 eased just 0.03% to 25,201.55 and the Nifty 200 slipped 0.04% to 13,970.15.  

On the losing side, the Nifty Midcap Select fell 0.16% to 14,607.80, the Nifty Midcap 100 edged down 0.05% to 62,695.40, and the Nifty 500 was marginally lower at 23,262.10. On the sectoral front, Nifty Pharma outperformed with a 1.73% gain to 25,191.55 and Nifty Healthcare Index rose 1.49% to 16,068.30, while Nifty FMCG turned positive, adding 0.07% to 49,388.80. The drags were led by Nifty IT, which fell 1.87% to 27,112.95, Nifty Metal which dropped 1.68% to 12,870.85, and Nifty Media which slipped 0.39% to 1,530.90. 

Iran War 

The United States 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 in the first concrete economic concession under the interim peace deal, while US Vice President JD Vance said the Switzerland talks had laid a very good foundation for a permanent agreement. A sustained lull in fighting in Lebanon since Saturday night offered a fragile but welcome signal of de-escalation, even as Iran denied that nuclear issues had been formally discussed and technical talks continued through the week in Buergenstock. 

Asian & US Markets 

Asian markets were sharply weaker on Tuesday, with Japan’s Nikkei 225 plunging 2.95% to 70,217.74, Hong Kong’s Hang Seng falling 1.51% to 23,409.45, Shanghai Composite shedding 0.78% to 4,130.80, and Indonesia’s JSX Composite down 0.98% to 6,116.69, as the region reacted to the sharp fall in crude oil prices and mixed geopolitical signals from the Iran talks.  

On Wall Street, Monday’s session was split, with the Dow Jones Industrial Average adding 0.29% to 51,712.71 and the NYSE Composite rising 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. 

Oil Prices 

Oil prices edged higher on Tuesday after the previous session’s steep 3%-plus fall, 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, as markets waited for clearer signs of progress in restoring crude flows through the Strait of Hormuz. Monday’s sharp decline had been driven by the US granting Iran a 60-day sanctions waiver, which raised expectations of a gradual return of Iranian crude to global markets.  

Indian Markets at Tuesday Morning 

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. The mood on Dalal Street was one of watchful consolidation, with buyers selectively accumulating pharma and healthcare names while keeping technology and metal positions light pending fresh cues from the Middle East and overnight Wall Street trade. 

Sources

• bseindia.com
• nseindia.com