Market Commentary Mid Session News Details

Market trades with deep cuts; realty shares decline

(03-Jun-26   11:37)

The headline equity benchmarks witnessed major losses during mid-morning trade, as rising uncertainty surrounding the Iran'US conflict, persistent foreign institutional investor (FII) selling, and other market headwinds weighed on investor sentiment. The Nifty slipped below the 23,250 mark. Realty stocks advanced, extending gains from the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, tumbled 949.24 points or 1.27% to 73,700.60. The Nifty 50 index tanked 264.85 points or 1.14% to 23,213.30.

In the broader market, the BSE 150 MidCap Index fell 1.11% and the BSE 250 SmallCap Index slipped 0.71%.

The market breadth was negative. On the BSE, 1,330 shares rose and 2,518 shares fell. A total of 221 shares were unchanged.

Buzzing Index:

The Nifty Realty index dropped 2.11% to 757. The index rose 0.67% in the past trading session.

Prestige Estates Projects (down 3.24%), Lodha Developers (down 2.97%), Oberoi Realty (down 2.64%), DLF (down 2.40%), Godrej Properties (down 2.33%), Anant Raj (down 1.49%), Sobha (down 1.40%), Aditya Birla Real Estate (down 0.73%), Phoenix Mills (down 0.56%) and Brigade Enterprises (down 0.45%) declined.

Stocks in Spotlight:

Zydus Lifesciences slipped 1.94% after the company said that it has received a warning letter from the United States Food and Drug Administration (USFDA) relating to its formulation manufacturing facility located at Baddi, Himachal Pradesh

AJAX Engineering rose 0.33%. The company announced the appointment of Ketan Pendse as its chief financial officer (CFO) and key managerial personnel, effective June 2, 2026.

Bajel Projects added 1.14% after it has bagged an order from a Datacenter Client (Mumbai) for design, engineering, procurement, supply, erection, commissioning & performance testing of a 400/220/33 KV GIS Substation for a Data Center project.

Global Markets:

Asian markets traded broadly higher on Wednesday as investors appeared to look past uncertainty over U.S.-Iran negotiations aimed at ending the Middle East conflict.

Tensions have escalated between Washington and Tehran, with Secretary of State Marco Rubio saying on Tuesday that Iran has mined large segments' of the Strait of Hormuz.

A White House official was quoted by the media saying that the Pentagon has destroyed numerous mines and over 40 minelaying vessels.

The Strait of Hormuz is a critical waterway, particularly for the energy market globally ' around 20% of the world's oil supplies passed through the strait before the war.

Overnight on Wall Street, the S&P 500 ticked up to a record close after reaching a new all-time high on Tuesday as traders monitored the latest U.S.-Iran developments as well as moves in major tech names.

The broad-based index advanced 0.13% to end at 7,609.78 for its first close above the 7,600 threshold, while the Dow Jones Industrial Average gained 228.91 points, or 0.45%, to 51,307.79. The latter also rose to a new all-time intraday high earlier in the session. The Nasdaq Composite eked out a gain of 0.03% to end at 27,093.90.

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