The domestic equity benchmarks traded with decent cuts in the mid- afternoon trade as investors monitored escalating geopolitical and political tensions in the Middle East.

The Nifty traded below the 23,750 mark. Consumer Durables shares advanced after declining for previous trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, tanked 378.56 points or 0.50% to 75,489.08. The Nifty 50 index fell 162 points or 0.68% to 23,745.15.

In the broader market, the BSE 150 MidCap Index fell 0.72% and the BSE 250 SmallCap Index jumped 0.05%.

The market breadth was negative. On the BSE, 1,787 shares rose and 2,401 shares fell. A total of 234 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.72% to 15.99.

IMD Forecast:

The forecast by the India Meteorological Department that India may receive about 90% of the long-period average rainfall this monsoon suggests a slightly below-normal season, but not a severe shortfall. This level of rainfall is likely to have a moderate impact on the economy, particularly in agriculture, where rain-fed crop output could be affected in some regions. Any uneven distribution of rainfall may lead to localized stress on farm production, which in turn could push up prices of food items such as vegetables, pulses, and cereals. Rural demand may also see some moderation if farm incomes are impacted. However, since the deviation from normal is not very large, the overall effect on GDP growth is expected to remain limited, with the economy continuing to be supported by stable services and industrial activity.

Buzzing Index:

The Nifty Consumer Durables index fell 1.20% to 35,092.90. The index jumped 0.63% in the previous trading session.

Blue Star (down 3.74%), Bata India (down 3.57%), Whirlpool of India (down 3.48%), Havells India (down 1.98%), Titan Company (down 1.2%), Dixon Technologies (India) (down 1%), Voltas (down 0.97%), Crompton Greaves Consumer Electricals (down 0.8%), LG Electronics India (down 0.48%) and Kajaria Ceramics (down 0.45%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.10% to 6.989 compared with previous session close of 6.996.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.2225 compared with its close of 95.5800 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement fell 0.47% to Rs 156,180.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 99.12.

The United States 10-year bond yield rose 0.16% to 4.459.

In the commodities market, Brent crude for July 2026 settlement rose 2 cents or 0.02% to $93.73 a barrel.

Stocks in Spotlight:

Innovision shed 0.60%. The company's consolidated net profit jumped 8.33% to Rs 11.87 crore on a 6.42% increase in total income to Rs 268.78 crore in Q4 FY26 over Q4 FY25.

GMR Airports rose 4.20% after the company reported a consolidated net profit of Rs 302.35 crore in Q4 FY26, compared with a net loss of Rs 237.59 crore in Q4 FY25. Revenue from operations increased 37.54% year-on-year to Rs 3,938.16 crore for the quarter ended 31 March 2026.

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