The key equity barometers ended with significant losses on Tuesday as geopolitical concerns resurfaced following fresh US strikes on Iran dampened hopes of a peace deal. Investors turned cautious and indulged in profit booking following the strong rally seen in the previous two trading sessions. Market participants also remained focused on the movement in crude oil and gold prices. The Nifty closed below the 23,950 mark.

Consumer durables, private bank and realty shares witnessed selling pressure while metal, FMCG and auto stocks advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 479.25 points or 0.63% to 76,009.70. The Nifty 50 index fell 118 points or 0.49% to 23,913.70. In the past two trading sessions, the Sensex and Nifty increased 1.74% and 0.91%, respectively.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.33% and the BSE 250 SmallCap Index jumped 0.21%.

The market breadth was positive. On the BSE, 2,157 shares rose and 2,046 shares fell. A total of 192 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.41% to 16.13.

In the commodities market, Brent crude for July 2026 settlement dropped $4.66 or 4.50% to $98.88 a barrel.

Buzzing Index:

The Nifty Consumer Durables index declined 1.05% to 35,294.95. The index rose 1.91% in the past three trading sessions.

Amber Enterprises India (down 2%), Crompton Greaves Consumer Electricals (down 1.52%), Titan Company (down 1.28%), Dixon Technologies (India) (down 1.28%), LG Electronics India (down 1.11%), Voltas (down 0.98%), PG Electroplast (down 0.91%), Blue Star (down 0.69%), Kalyan Jewellers India (down 0.67%) and Kajaria Ceramics (down 0.38%) tumbled.

Stocks in Spotlight:

Rail Vikas Nigam (RVNL) declined 4.64% after the company's consolidated net profit fell 58.92% to Rs 187.07 crore on a 4.18% increase in revenue from operations to Rs 6,695.91 crore in Q4 FY26 over Q4 FY25.

Suprajit Engineering surged 5.86% after the company reported a 161.04% jump in consolidated net profit to Rs 71.11 crore in Q4 FY26, compared with Rs 27.24 crore posted in the same quarter last year.

Pine Labs fell 4.72%. The company reported a net profit of Rs 59 crore in Q4 FY26 as against a net loss of Rs 29 crore recorded in Q4 FY25. Revenue rose by 17% year-on-year (YoY) to Rs 701 crore during the period under review.

Man Industries (India) shed 1.38%. The company reported a 25.39% decline in consolidated net profit to Rs 50.85 crore on a 5.02% drop in revenue from operations to Rs 1,157.30 crore in Q4 FY26 over Q4 FY25.

One Mobikwik Systems rallied 3.56% after the company received in-principle authorisation from the Reserve Bank of India to operate as a payment aggregator-physical, will enable the company to expand its offline merchant payments business.

Techno Electric & Engineering Company dropped 12.35% after the company reported a decline in quarterly profitability despite decent revenue growth. On a consolidated basis, the company reported a net profit of Rs 114.51 crore in Q4 FY26, down 14.96% YoY and 3.97% QoQ. Revenue from operations rose 23.81% YoY to Rs 1,010.04 crore in Q4 FY26, while increasing 15.80% QoQ from Rs 872.2 crore.

Campus Activewear rallied 5.60% after the company's net profit jumped 26.01% to Rs 44.14 crore on a 12.3% increase in revenue from operations to Rs 455.63 crore in Q4 FY26 over Q4 FY25.

Orchid Pharma rose 0.19%. The company reported a 6.68% increase in consolidated net profit to Rs 23.78 crore for the fourth quarter ended March 2026, compared with Rs 22.29 crore in the corresponding quarter last year.

Global Markets:

The US Dow Jones index Futures were up 227 points, signalling a strong opening for Wall Street later today.

European market declined on Tuesday, as traders monitored developments in the Middle East and Ukraine amid renewed volatility in oil markets.

Asian markets ended mixed even as investor sentiment remained supported by hopes for a breakthrough in the U.S.-Iran peace talks.

President Donald Trump said Monday negotiations with Iran were 'proceeding nicely,' though he warned that the U.S. could resume attacks if the talks failed.

In a sign of how tenuous the negotiations were, the U.S. Central Command said that it conducted 'self-defense strikes' targeting Iranian missile launch sites and boats attempting to lay mines in the south of the Islamic Republic.

Markets in the U.S. were closed on Monday on account of the holiday for Memorial Day.

Last week, stocks rose on Friday as Treasury yields eased, resulting in a winning week for Wall Street despite heightened volatility.

The Dow Jones Industrial Average gained 294.04 points, or 0.58%, to end at 50,579.70. The 30-stock index hit an intraday all-time high and posted another record close. The S&P 500 rose 0.37% to settle at 7,473.47. The Nasdaq Composite climbed 0.19%, ending at 26,343.97.

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