Sensex dips 573 pts, Nifty settles below 24,750 mark; VIX zooms 7.59%
The domestic equity benchmarks ended with significant losses today, mirroring a sell-off across Asian markets, after Israel launched military strikes on Iran, heightening geopolitical tensions in the oil-rich Middle East. All the sectoral indices on the NSE were ended in red with PSU Bank, FMCG and metal shares declining the most. The Nifty settled below the 24,750 mark.
As per provisional closing data, the barometer index, the S&P BSE Sensex, slumped 573.38 points or 0.70% to 81,118.60. The Nifty 50 index fell 169.60 points or 0.68% to 24,718.60.
The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index slipped 0.32% and the S&P BSE Small-Cap index dropped 0.30%.
The market breadth was weak. On the BSE, 1,524 shares rose and 2,465 shares fell. A total of 134 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, soared 7.59% to 15.08.
Economy:
India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%.
IPO Update:
The initial public offer (IPO) of Oswal Pumps received bids for 55,36,464 shares as against 1,62,12,980 shares on offer, according to stock exchange data at 15:30 IST on Friday (13 June 2025). The issue was subscribed 0.34 times.
The issue opened for bidding on Friday (13 June 2025) and it will close on Tuesday (17 June 2025). The price band of the IPO is fixed between Rs 584 and 614 per share. An investor can bid for a minimum of 24 equity shares and in multiples thereof.
Buzzing Index:
The Nifty PSU Bank index declined 1.18% to 6,934.85. The index dropped 4.05% for the four consecutive trading sessions.
Canara Bank (down 3.55%), Indian Overseas Bank (down 2.72%), Union Bank of India (down 2.7%), State Bank of India (down 1.7%) Punjab & Sind Bank (down 1.44%), Punjab National Bank (down 1.21%), UCO Bank (down 1.17%), Bank of India (down 1.16%), Central Bank of India (down 0.94%) and Bank of Baroda (down 0.51%) tanked.
Canara Bank slipped 3.55%. The bank said its board has approved a capital raising plan of up to Rs 9,500 crore for FY25-26 through the issuance of Basel III-compliant debt instruments.
Stocks in Spotlight:
RPP Infra Projects hit an upper limit of 2% after the company announced that it has received letter of acceptance worth Rs 282.88 crore from the principal general manager UPSIDA Complex Kanpur.
Kernex Microsystems (India) hit an upper limit of 5% after the company said it secured two contracts from Southern Railways in a joint venture with VRRC, under the KERNEX-VRRC consortium.
Sigachi Industries added 1.85% after the firm informed that it has secured the Terms of Reference (ToR) approval from the State Environment Impact Assessment Authority (SEIAA), Andhra Pradesh.
TANFAC Industries rallied 3.35% after the company announced that it has has successfully commissioned its 5,000 tonnes per annum (TPA) Solar Grade Dilute Hydrofluoric Acid (DHF) plant.
CSB Bank fell 1.14%. The bank announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director (MD) & CEO of the bank for a period of three years with effect from 15 September 2025.
Yes Bank shed 0.88%. The bank said that the Reserve Bank of India (RBI) has granted its approval for the extension of the tenure of appointment of Prashant Kumar as managing director & CEO of the bank.
Crompton Greaves Consumer Electricals rose 0.58%. The company has secured a letter of award (LoA) worth Rs 100.68 crore from the Maharashtra Energy Development Agency (MEDA) for supplying and installing 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS).
NBCC (India) added 0.17%. The company announced that it has secured a new work from Navodaya Vidyalaya Samiti in four states worth Rs 518.49 crore.
Global Markets:
US stock futures nosedived early Friday, with Dow Jones futures plunging 520 points, after media outlets reported that Israel had launched military strikes on Iran, specifically targeting its nuclear facilities. The reports emphasized that the US was not involved in the operation.
Israels Defense Minister declared a nationwide state of emergency, saying, "Following the State of Israels preemptive strike against Iran, a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future."
European markets opened lower on Friday as Israel-Iran conflict weighs on global sentiment.
Asian marked tumbled as Israel conducted a military strike on Iran, targeting its nuclear program, while Iran vowed to retaliate.
Despite the looming volatility, US indices closed higher on Thursday. The S&P 500 rose 0.38%, while the Nasdaq Composite gained 0.24% and the Dow Jones Industrial Average added 0.24%.
In economic data, the Producer Price Index (PPI) for final demand rose 0.1% in May, recovering from a revised 0.2% drop in April, according to the Bureau of Labor Statistics.
Oracle soared to record highs after the company raised its full-year revenue growth outlook, citing strong AI-related demand.
Boeing tumbled after a tragic Air India 787-8 Dreamliner crash during takeoff in Ahmedabad. The aircraft was carrying 242 passengers. GE Aerospace, which supplies the jet's GEnx-1B engines, also saw its shares slide sharply.
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