Indian stocks fall for second day, led by IT sector losses

Source: PTI

Benchmark stock indices Sensex and Nifty declined on Tuesday (June 30, 2026) due to selling in IT, oil & gas and select banking shares amid uncertainty over the next round of U.S.-Iran negotiations in Doha.

Key Market Movements

• BSE Sensex declined 249.70 points, or 0.33%, to settle at 76,478.67, paring its opening gains. During the day, it fell by 398.98 points, or 0.51%, to a low of 76,329.39.
• NSE Nifty dropped 80.50 points, or 0.34%, to end at 23,865.75.

Factors Weighing on Sentiment

Analysts cited the following factors for the market decline:

• Delayed onset and sluggish progress of the southwest monsoon
• Fresh foreign fund outflows
• Decline in blue-chip IT stocks

Major Losers and Gainers

Among Sensex shares, the major laggards included:

• Infosys
• Tata Consultancy Services
• HCL Tech
• Tech Mahindra
• ITC
• Hindustan Unilever

Gainers included:

• Maruti
• Titan
• Bajaj Finance
• Eternal

Foreign Fund Outflows

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,350.10 crore on Monday, according to exchange data.

Global Commodities

Brent crude, the global oil benchmark, rose by 0.23% to $73.32 per barrel.

Analyst Commentary

Vinod Nair, Head of Research, Geojit Investments Limited, said:

"The domestic market remained in a consolidation phase, trading within a narrow range and exhibiting a mixed trend. Although geopolitical concerns have eased, the fragile nature of the U.S.–Iran peace deal continues to weigh on sentiment, preventing any meaningful directional move."

Mr. Nair added that sectoral performance was mixed but tilted to the downside, with IT emerging as the primary drag.

"On the domestic front, the current monsoon trend - pointing to the worst deficit in a decade - raises concerns about agricultural output and allied sectors, further impacting sentiment amid expectations of weak Q1FY27 earnings."

Broader Market Performance

Broader markets advanced:

• BSE SmallCap Select index rose by 0.59%
• MidCap Select index rose by 0.46%

Sectoral Performance

| Sector | Change | |---|---| | BSE Focused IT | -2.62% | | IT | -2.48% | | PSU Bank | -0.68% | | Bankex | -0.25% | | Top 10 Banks | -0.23% | | Metal | -0.18% | | Utilities | -0.12% | | Private Banks index | -0.12% |