Sensex Today Tanks 719 Points; Nifty Below 23,150

Although the benchmark indices opened lower, they traded negatively throughout the session and ultimately closed red.

Indian equity benchmarks, Sensex and Nifty50, ended lower due to heightened tension in West Asia.

At the closing bell, the BSE Sensex  closed 719 points lower (down 0.9%)

Meanwhile, the NSE Nifty closed 244 points lower (down 1%)

Bharti Airtel, Bharat Elec, and Tech Mahindra were the top gainers today.

Eternal, Tata Steel, and Trent, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,131, with 34 points higher at the time of writing.

The BSE 150 Midcap index is trading 1.7% lower, and the BSE 250 SmallCap index is trading 1.8% lower.

Barring the hospital sector, all other sectoral indices were trading negatively today, with the metal sector and the telecommunication sector witnessed selling pressure.

The rupee is trading at Rs 95.6 against the US$.

Gold prices for the latest contract on MCX are trading 1.3% lower at Rs 1,53,535 per 10 grams.

Meanwhile, silver prices were trading 2.5% lower at 2,42,200 per 1 kg.

5 reasons why Indian share markets are falling:

#1 Geopolitical Tensions Rise in West Asia

Tensions between Israel and Iran intensified after both sides reportedly carried out fresh military actions. Explosions were reported in several Iranian cities, raising fears of a wider regional conflict.

#2 Global Markets Come Under Pressure

Global stock markets declined sharply on Monday, with technology stocks leading the losses. Asian indices fell after a weak session on Wall Street, reflecting growing investor caution.

#3 Crude Oil Prices Move Higher

Oil prices surged as investors worried about possible disruptions to energy supplies from the Middle East. Concerns remain focused on the Strait of Hormuz, a key route for global oil shipments.

#4 Strong US jobs Data Sparks Rate Concerns

The US economy added 172,000 jobs in May, significantly above market expectations. The strong data has increased concerns that interest rates could remain higher for longer.

#5 Rupee Weakens Against the Dollar

The rupee slipped 17 paise to 95.35 against the US dollar in early trade. The decline came amid a stronger dollar and rising global uncertainty despite recent RBI measures to support liquidity.

HG Infra Receives Key Project Approval

Shares of HG Infra Engineering came into focus after the company received the provisional completion certificate for a key package of the Ganga Expressway project in Uttar Pradesh.

HG Infra Engineering has received a provisional completion certificate for its Greenfield Expressway project connecting the Meerut-Prayagraj Ganga Expressway. The project was executed on an EPC (Engineering, Procurement and Construction) basis and is valued at Rs 49.7 billion.

The certificate was issued by Adani Road Transport, which has declared the project ready for commercial operations.

Separately, the company's wholly-owned subsidiary, HG Varanasi-Kolkata PKG-10 Highway, recently received a project from the National Highways Authority of India (NHAI) to build a six-lane section of the Varanasi-Ranchi-Kolkata Greenfield Highway in Jharkhand under the Bharatmala programme. The project is worth Rs 13.0 billion and is expected to be completed within 730 days.

Ixigo Rises on Brevistay Stake Acquisition

Ixigo's board has approved the acquisition of a 54.66% stake in Brevistay Hospitality for Rs 656.9 million through a combination of buying existing shares and investing fresh capital. Once the deal is completed, Brevistay will become a subsidiary of Ixigo.

Founded in 2016, Brevistay operates a platform that allows customers to book hotel rooms for flexible durations, including hourly stays. The acquisition is expected to be completed by 31 July 2026 and will help Ixigo strengthen its hotel booking business and expand its accommodation offerings.

In addition, Ixigo has announced investments of Rs 75 million in AI startup Proactai and Rs 45 million in AI startup Vestra.AI. These investments are aimed at enhancing the company's artificial intelligence capabilities and accelerating the development of AI-powered solutions across its platforms.