The key equity benchmarks traded with minor losses in early trade on Tuesday. The Nifty traded below the 24,100 level. Pharma, realty and media shares advanced while metal, IT and PSU bank shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 70.11 points or 0.09% to 77,023.96. The Nifty 50 index fell 4.35 points or 0.03% to 24,096.20.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.43% and the BSE 250 SmallCap Index jumped 0.76%.

The market breadth was strong. On the BSE, 1,794 shares rose and 1,278 shares fell. A total of 198 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 635.91 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,035.72 crore in the Indian equity market on 22 June 2026, provisional data showed.

Stocks in Spotlight:

Hindustan Zinc fell 1.13%. The company signed a memorandum of understanding (MoU) with Advantek Associates LLP and Aero Ragle Automobiles to explore the adoption of green hydrogen and alternative clean energy solutions across its operations. Through this MoU, Hindustan Zinc is set to pioneer the use of hydrogen fuel for underground mining applications, positioning it to become the only company to deploy this technology in such environments.

GHV Projects added 2.87% after it has secured a significant infrastructural sub-contract from GHV India to execute comprehensive engineering and composite works at a major railway coaching complex in West Bengal. Total contract valued at Rs 213 crore.

Economy:

Growth in India's eight core industrial sectors slowed to 0.5% in May 2026, marking the second-lowest level in 21 months, according to official data released by the Ministry of Commerce and Industry on June 22, 2026.

Data from the Index of Eight Core Industries showed that five of the eight sectors recorded contractions during the month.

The crude oil sector contracted by 4.6% in May, worsening from a 3.9% decline in April and a 1.8% decline in May 2025. The natural gas sector also remained under pressure, shrinking by 4.9%, its weakest performance in the last three months.

The fertiliser sector contracted for the third consecutive month, declining by 0.9% in May. However, this was an improvement compared with contractions of 8.6% in April and 24.6% in March.

Among the eight core sectors, only steel, cement and electricity registered growth in May 2026.

The electricity sector recorded the strongest growth, with expansion accelerating to 8.7%, helped by a low base as the sector had contracted by 4.7% in May last year.

The steel sector continued to grow but at a slower pace, with growth easing to 5%, the lowest level in 13 months. Meanwhile, the cement sector saw growth improve slightly to 8.4% in May from 8.2% in April.

Overall, the latest data indicate a broad slowdown in core sector activity, with growth supported mainly by electricity, cement and steel output.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.07% to 6.846 as compared with previous close 6.851.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.6600 compared with its close of 94.6300 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 0.87% to Rs 146,849.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 101.02.

The United States 10-year bond yield fell 0.27% to 4.498.

In the commodities market, Brent crude for August 2026 settlement fell 36 cents or 0.46% to $77.54 a barrel.

Global Markets:

Asian markets traded lower on Tuesday as investor's grappled with rising expectations the Federal Reserve may take more aggressive action to tackle inflation later this year.

Oil prices continued to edge lower as supply concerns eased after U.S. Vice President JD Vance said progress had been made in talks with Iran and that the Strait of Hormuz was open.

Investors ⁠are grappling with expectations of an accelerated schedule of rate hikes by a more aggressive Federal Reserve under the leadership of new Chair Kevin Warsh.

A key test for the market this week will be Thursday's release of May's reading on the personal consumption expenditures price index, the Fed's preferred inflation gauge. Even excluding volatile food and energy prices, core PCE is expected to increase from April, according to economists polled by FactSet.

Fed funds futures are pricing an implied 54% probability of at least two 25-basis-point hikes before the ⁠end of the year, compared with a 15.2% chance a week ago, according to the CME Group's FedWatch tool.

Overnight on Wall Street, the S&P 500 fell on Monday, weighed down by declines in technology stocks. Wall Street also assessed the latest developments in the Iran war negotiations and awaited the release of inflation data closely watched by the Federal Reserve.

The broad market index fell 0.37% to 7,472.79, while the Nasdaq Composite declined 1.32% to end at 26,166.60. The Dow Jones Industrial Average added 148.01 points, or 0.29%.

A key test for the market this week will be Thursday's release of May's reading on the personal consumption expenditures price index, the Fed's preferred inflation gauge. Even excluding volatile food and energy prices, core PCE is expected to increase from April, according to economists polled by FactSet.

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