Stock Market Mid-Day Report, June 8, 2026: Markets Extend Morning Losses; Sensex Down 480 points, Nifty Dips 155 points

Mumbai, June 8: Domestic equity benchmarks extended their morning losses into midday trade on Monday as fresh Israeli strikes on Beirut and retaliatory Iranian missile fire kept global risk sentiment under severe pressure.  

The BSE Sensex was trading at 73,760.61, down 482.73 points or 0.65%, while the NSE Nifty 50 quoted at 23,212.00, lower by 154.70 points or 0.66%, as of 11:49 am — marking a second successive session of broad-based losses on persistent Middle East anxieties. The India VIX volatility gauge remained elevated at 16.94, up over 7%, underscoring the heightened investor nervousness gripping markets ahead of any clarity on a US-Iran ceasefire. 

Gainers 

Defensive and healthcare counters led the buying side in an otherwise battered market. Max Healthcare (LTP: ₹1,001.00; prev. close: ₹977.25) surged 2.43%, the day’s top Nifty gainer, followed by Power Grid (LTP: ₹290.95; prev. close: ₹285.65), which advanced 1.86%. Apollo Hospitals (LTP: ₹8,443.00; prev. close: ₹8,304.50) climbed 1.67% as investors rotated into pharma and healthcare, while Nestlé India (LTP: ₹1,408.60; prev. close: ₹1,386.20) gained 1.62%, and Tech Mahindra (LTP: ₹1,501.00; prev. close: ₹1,483.50) rose 1.18%, benefiting from a partial recovery in IT after Friday’s steep selloff. 

Losers 

Wipro bore the sharpest brunt of selling, collapsing 6.37% to an LTP of ₹185.73 against a previous close of ₹198.37 after the IT major’s quarterly results disappointed the Street. Among the other prominent decliners, Shriram Finance (LTP: ₹900.05; prev. close: ₹923.30) fell 2.52%, Mahindra & Mahindra (LTP: ₹2,968.10; prev. close: ₹3,040.50) dropped 2.38%, Bajaj Finance (LTP: ₹868.50; prev. close: ₹889.40) shed 2.35%, and IndiGo (LTP: ₹4,376.90; prev. close: ₹4,481.30) declined 2.33% as auto, NBFC and aviation stocks faced the combined drag of elevated crude oil prices and risk-off global flows. 

Broad Markets & Sectoral Indices 

Across the broader market, the Nifty 100 was down 0.70% at 24,227.10, the Nifty 200 fell 0.65% to 13,438.70, and the Nifty 500 slipped 0.68% to 22,313.05, reflecting a uniform wave of selling from large-caps through to mid- and small-caps. On the sectoral front, pharma, FMCG and healthcare were the islands of green: the Nifty Pharma index gained 0.42% to 24,350.95, Nifty FMCG rose 0.28% to 48,435.50, and the Nifty Healthcare index was up 0.85% at 15,540.10, as investors sought refuge in defensives. Conversely, rate-sensitive and commodity-linked sectors took the worst hits — the Nifty Metal index tumbled 1.43% to 13,032.70, Nifty Auto fell 1.18% to 25,858.20 amid crude-driven cost fears, and Nifty Realty shed 1.06% to 760.75 on valuation concerns and rising risk premiums. 

Middle East: Israel-Iran Escalation 

Israel on Sunday launched renewed strikes on Beirut — the first since a US-brokered truce plan was announced last week — breaching the fragile ceasefire and reigniting fears of a wider regional conflagration. Iran retaliated swiftly, firing a salvo of missiles at Israeli targets including the Ramat David air base near Nazareth, which the Israeli military said were largely intercepted by its defence systems. US President Donald Trump, speaking from Bedminster, insisted the strikes would not derail his administration’s peace talks with Tehran, declaring “I call all the shots,” and urged Netanyahu to stand down from any further retaliation against Iran. The latest flare-up erases much of the de-escalation optimism that had built through the prior week, keeping the Strait of Hormuz threat alive as a dominant macro risk for global markets. 

Asian Markets 

Asian markets plunged sharply on Monday morning as the renewed Middle East hostilities sent shockwaves across the region. Japan’s Nikkei 225 led declines, crashing 4.44% to 63,628.98, while Hong Kong’s Hang Seng slid 1.81% to 24,510.86 and China’s Shanghai Composite fell 2.01% to 3,946.81, reflecting broad risk-off selling across the continent. 

US Markets 

US markets closed sharply lower on Friday as mounting fears of an expanded US-Iran conflict rattled Wall Street. The Nasdaq Composite plunged 4.18% to 25,709.43 and the S&P 500 tumbled 2.64% to 7,383.74, while the Dow Jones Industrial Average shed 1.35% to close at 50,866.78. 

Oil Prices 

Crude oil prices surged over $2 a barrel on Monday morning after Israel’s renewed Beirut strikes eroded hopes for an imminent ceasefire and the reopening of the Strait of Hormuz. Brent crude futures climbed $2.33, or 2.5%, to $95.42 a barrel, while US WTI crude rose $2.10, or 2.32%, to $92.64 a barrel as of early trading, effectively erasing Friday’s losses that had come on hopes of US-Iran de-escalation. Iran has made a ceasefire in Lebanon a precondition for any peace deal with Washington, meaning the latest Israeli strikes now pose a direct barrier to any resumption of normal oil flows through the critical Persian Gulf choke-point. 

Markets at Open 

Indian equity benchmarks opened the week on a deeply cautious note, dragged lower by the reignition of Middle East hostilities overnight. The BSE Sensex plunged 737.25 points, or 0.99%, to trade at 73,506.09, while the NSE Nifty 50 shed 231.65 points, or 0.99%, to quote at 23,135.05 around 9:24 am, mirroring the broad carnage seen in Asian markets. The India VIX spiked sharply by 8.07% to 17.06 at the open, signalling a sharp surge in investor anxiety even as domestic positives — including robust 7.7% GDP growth in FY26 and the RBI’s foreign-capital-friendly measures — offered only a modest cushion against the overwhelming global headwinds. 

Source:

• nseindia.com, bseindia.com
• https://www.nseindia.com/market-data/live-market-indices
• https://www.nseindia.com/market-data/top-gainers-losers