Equity

The Nifty slipped below the 23,950 mark. Pharma, IT and FNCG shares advanced while all the sectoral indices on the NSE traded in the red.

At 13:28 IST, the barometer index, the S&P BSE Sensex tumbled 847.22 points or 1.10% to 76,480.97. The Nifty 50 index declined 238.870 points or 0.99% to 23,937.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index dropped 0.93% and the BSE 250 SmallCap Index fell 0.75%.

The market breadth was weak. On the BSE, 1,482 shares rose and 2,723 shares fell. A total of 220 shares were unchanged.

In the commodities market, Brent crude for July 2026 settlement added $3.61 or 3.56% to $104.90 a barrel.

In the foreign exchange market, the rupee weakened against the US dollar. The partially convertible rupee was hovering at 95.1900 against the dollar, compared with its previous close of 93.5100 in the last trading session, reflecting continued pressure on the domestic currency.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 8.40% to 18.26.

Gainers & Losers:

Tata Consumer Products (up 7.20%), Max Healthcare Institute (up 1.88%), Coal India (up 1.68%), PSun Pharmaceutical Industries (up 1.34%) and Grasim Industries (up 1.03%) were the major Nifty50 gainers.

Titan Company (down 6.09%), InterGlobe Aviation (down 4.70%), State Bank of India (down 3.93%), Bharti Airtel (down 3.84%) and Eternal (down 3.64%) were the major Nifty50 losers.

Tata Consumer Products surged 7.20% after the company reported a 21.53% jump in consolidated net profit to Rs 419.08 crore on 17.91% increase in revenue from operations to Rs 5,433.62 crore in Q4 March 2026 over Q4 March 2025.

Stocks in Spotlight:

Multi Commodity Exchange of India (MCX) added 3.08% after it has reported 291% year-on-year (YoY) surge in consolidated net profit to Rs 530 crore in Q4 FY26, compared with Rs 135 crore in Q4 FY25. Revenue from operations jumped 205% YoY to Rs 889 crore for the quarter ended 31 March 2026.

Northern Arc Capital jumped 7.66% after the company's consolidated net profit surged 250.9% to Rs 132.50 crore on 23.09% increase in revenue from operations to Rs 741.65 crore in Q4 FY26 over Q4 FY25.

Shipping Corporation of India rose 0.66%. The company reported a 118.5% YoY rise in consolidated net profit to Rs 404.60 crore in Q4 FY26, compared with Rs 185.14 crore in Q4 FY25. Revenue from operations increased 14.2% year-on-year to Rs 1,513.21 crore for the quarter ended 31 March 2026.

Aarti Surfactants dropped 9.40% after the company's consolidated net profit tumbled 56.89% to Rs 4.19 crore in Q4 FY26 from Rs 9.72 crore in Q4 FY25. Revenue from operations jumped 26.83% YoY to Rs 256.28 crore in the quarter ended 31 March 2026.

Rain Industries surged 6.01% after the company reported a consolidated net profit of Rs 157.86 crore in Q1 2026 as against a net loss of Rs 115.10 crore recorded in Q1 2025. Revenue from operations increased by 20% YoY to Rs 4,520.73 crore during the quarter.

Global Markets:

European stocks traded mixed on Monday as investors digest the latest impasse in peace negotiations between the U.S. and Iran.

Asian markets traded mixed as rising oil prices and escalating tensions between the U.S. and Iran weighed on investor sentiment.

China's annual inflation rose to 1.2% in April 2026 from 1% in March, surpassing market estimates of 0.8%, driven by higher transport, healthcare and education costs amid elevated energy prices and Middle East-led supply chain disruptions. Food prices declined 1.6%, weighed by weak pork, vegetable and fruit prices. On a monthly basis, CPI rose 0.3% in April, reversing a 0.7% decline in March.

President Donald Trump's rejection of Tehran's latest proposal to end the war, however, stoked worries over an elongated Middle East conflict.

Iran submitted a new proposal to U.S. negotiators focused on ending the Middle East conflict. Iran's semi-official media agency said that the counteroffer called for an end to the war on all fronts and the lifting of sanctions on Tehran, citing an informed source.

However, Trump said he did not like Iran's response and called it 'TOTALLY UNACCEPTABLE!' in a social media post.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu reportedly said on Sunday that the war with Iran was 'not over,' as the U.S. and Israel still aim to curb Tehran's nuclear ambitions.

Netanyahu's comments come ahead of Trump's trip to China later this week, where he's expected to meet with Chinese President Xi Jinping. The war and the subsequent closure of the Strait of Hormuz by Iran have spiked global energy costs and sharply raised gas prices in the U.S.

Last week, U.S. equities rose on Friday following a better-than-expected April's jobs report and as traders eyed developments between the U.S. and Iran.

The S&P 500 advanced 0.84% to end at 7,398.93, while the Nasdaq Composite climbed 1.71% to 26,247.08. Both indexes hit new all-time intraday highs in the session and closed at records. The Dow Jones Industrial Average inched up 12.19 points, or 0.02%, to settle at 49,609.16.

Sentiment was bolstered by the Bureau of Labor Statistics reporting that nonfarm payrolls rose by 115,000 last month, more than the 55,000 that media reports had suggested. The U.S. jobless rate also held steady at 4.3%, in line with widely reported numbers.

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