The BSE Sensex closed 150.63 points or 0.20% lower at 73,832.55, while the Nifty 50 index ended 53.35 points or 0.23% down at 23,161.60. According to Business Standard, equity benchmarks ended on a subdued note on Thursday, erasing intraday gains as renewed military exchanges between the US and Iran reignited concerns over the durability of the fragile ceasefire. The market witnessed a brief recovery during the session amid easing crude oil prices, but the gains proved short-lived as the recovery proved fleeting, weighed down by an increasingly fragile global backdrop. The broader market remained under pressure, with both midcap and smallcap indices ending lower. The BSE 150 MidCap Index fell 0.83% and the BSE 250 SmallCap Index shed 0.72%, reflecting widespread selling pressure across market segments.
Innovana Thinklabs Ltd fell 3.77% today to trade at ₹320.4, underperforming the broader market. According to reports from Business Standard, the stock's decline contributed to weakness in the technology sector. The BSE Information Technology index declined 1.62% to close at 27,821, extending its losing streak to seven consecutive trading sessions with a total decline of 10.59% during this period. Among Nifty 50 constituents, Mahindra & Mahindra, ICICI Bank and Kotak Mahindra Bank were the top gainers, while Infosys, HCLTech, Adani Ports, Eternal and Bajaj Finance emerged as the biggest losers. The IT sector's underperformance was particularly pronounced as escalating West Asia tensions and geopolitical uncertainties weighed on investor sentiment. During the session, TCS, Wipro, HCLTech and LTM touched fresh 52-week lows, mirroring the overnight decline in global tech shares. Major IT stocks including LTIMindtree (down 2.59%), Infosys (down 2.25%), Oracle Financial Services Software (down 1.87%), HCL Technologies (down 1.61%), Persistent Systems (down 0.87%), TCS and Tech Mahindra (both down 0.80%), Wipro (down 0.80%), Mphasis (down 0.61%) and Coforge (down 0.48%) all ended in the red.
Foreign portfolio investors (FPIs) sold shares worth ₹2,124.98 crore on June 10, 2026, while domestic institutional investors (DIIs) were net buyers to the tune of ₹3,123.95 crore in the Indian equity market, as per provisional data. This institutional activity occurred during the broader market decline, with DIIs providing support to offset foreign selling pressure. The contrasting flows highlight the divergent sentiment between foreign and domestic investors amid the geopolitical developments, with persisting foreign fund outflows contributing to the muted trading sentiment. According to Gaurav Garg, Research Analyst at Lemonn Markets Desk, weakness in the rupee, uncertainty over global interest rates following stronger-than-expected US inflation data, and cautious foreign investor activity further weighed on sentiment.
Most sectoral indices ended in negative territory, with defence and IT stocks witnessing the sharpest declines. Media emerged as the top-performing sector, while pharma and private banks posted modest gains. The weakness in technology stocks mirrored the overnight decline in global tech shares. According to Vinod Nair, Head of Research, Geojit Investments Limited, IT stocks remained under pressure amid concerns that stronger US inflation could delay interest rate cuts and keep global financial conditions tight. The sector's weakness was amplified by the broader market decline triggered by geopolitical uncertainties. Global cues remained mixed, with major central banks continuing to signal a hawkish stance, with the expected ECB rate hike further heightening concerns around liquidity tightening and its potential impact on emerging market flows.
Market breadth remained firmly negative with of the 4,389 stocks traded on the BSE, 1,384 advanced, 2,807 declined and 198 remained unchanged. A total of 214 shares were unchanged. In the midcap segment, Paytm, SRF, Tube Investments and UPL fell 3-4%, while Vodafone Idea, MCX, IRCTC, Lupin and 360 ONE WAM gained 1-3%. Among smallcaps, Aegis Logistics outperformed, while MRPL, Amber Enterprises, Afcons Infrastructure and Ola Electric declined 4-5%. Global brokerage Citi lowered its Nifty valuation multiple to 18 times from 19 times and trimmed its Nifty target to 26,000 from 27,000, citing geopolitical uncertainties and concerns around artificial intelligence as key risks to foreign investor sentiment.
