After opening the day marginally lower, the benchmark indices dragged as the session progressed and ended the day 0.3% lower.

Indian equity markets traded lower on Tuesday, as investors turned cautious after US President Donald Trump issued a warning against Iran over the ongoing conflict while stating that Tehran should have pursued a nuclear deal with the United States.

At the closing bell, the BSE Sensex closed lower by 213 points (down 0.3%).

Meanwhile, the NSE Nifty closed 93 points lower (down 0.4%).

Tech Mahindra, Infosys, and TCS are among the top gainers today

Adani Enterprises, Sun Pharma, and ONGC, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,873, lower by 121 points at the time of writing.

The BSE MidCap index ended 0.6% Lower and the BSE SmallCap index ended 0.% lower.

Barring the It sector and the media sector, all other sectoral indices were trading in red, stocks in the healthcare sector and the metal sector witnessing the most selling pressure.

The rupee is trading at Rs 86.3 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 99,248 per 10 grams.

Meanwhile, silver prices were trading 0.9% higher at Rs 107,583 per 1 kg.
 

Hindustan Zinc To Set Up Integrated Zinc Metal Complex

In news from the mining sector, Hindustan Zinc share price dropped 4% after Vedanta group firm on Tuesday announced setting up integrated zinc metal complex at Rajasthan with capex of Rs 120 bn.

The stock fell as the company announced that as part of doubling the capacity of zinc, lead and silver, the board of directors approved the initial plans for capacity expansion.

The project is targeted to be completed in a period of 36 months.

The company aims to align this capacity ramp-up with the rising demand for base metals and India's broader push toward self-reliance in critical resources.

Defence Stocks Rally for 5th Day

Moving on to news from the defence sector, defence stocks extended their winning streak for the fifth consecutive session, buoyed by expectations of increased order inflows following recent military developments.

The rally was sparked after India carried out targeted strikes on terrorist camps in Pakistan under 'Operation Sindoor' in May. While tensions between India and Pakistan have since cooled, ongoing conflicts like the Russia-Ukraine war and rising hostilities between Israel and Iran continue to lend support to the sector.

However, analysts remain divided on the outlook, with some cautioning that valuations in the defence space are becoming stretched.

Among the top gainers, Mazagon Dock Shipbuilders surged nearly 5% to Rs 3,322, rebounding after four sessions of profit-taking. Data Patterns rose over 2.5% to Rs 3,035, while GRSE and Bharat Dynamics climbed more than 2% each. Cochin Shipyard also edged higher by around 1.7%.

DCX India, Paras Defence, and BEML posted gains of over 1%, while HAL, Solar Industries, Cyient DLM, BEL, and Astra Microwave traded slightly in the green. Meanwhile, Zen Technologies and a few other defence names saw marginal declines despite the sector's broader uptrend.
 

Tanla Platform Rallies 8%. Here's Why

Moving on to news from the IT sector, shares of Tanla Platforms Ltd, a communications firm, soared 8% on Tuesday, June 17, after the company's board approved a share buyback worth Rs 1.8 billion. The move signals continued confidence in the company's financial health and long-term growth prospects.

At its meeting held on June 16, the board cleared a proposal to repurchase 20 lakh shares, representing approximately 1.5% of the total equity, at a price of Rs 875 per share.

The buyback is subject to shareholder approval through a special resolution, with the voting process set to be conducted electronically. E-voting will begin at 9:00 a.m. on June 17, 2025, and conclude at 5:00 p.m. on July 16, 2025.

This is not the company's first buyback initiative. In 2020 and 2022, Tanla Platforms had carried out buybacks worth Rs 154 crore and Rs 170 crore, respectively.
 

Shipping Stocks See Profit Booking

Moving on to news from the shipping sector, shipping stocks slipped into negative territory on Tuesday, June 17, as investors booked profits following a sharp rally over the past month.

At 11 a.m., shares of Shipping Corporation of India (SCI) dropped 5.7% to Rs 221.81 on the NSE. Despite the day's decline, SCI shares have gained nearly 20% over the last month.

The decline in SCI shares triggered weakness across the sector. GE Shipping fell 2.2% to Rs 982.70, while Essar Shipping was down 0.9% at Rs 30.51.

The recent surge in shipping stocks had been fuelled by heightened geopolitical tensions, particularly between Israel and Iran. Investors bet on higher container shipping rates amid rising crude prices and tighter vessel availability.

Concerns were amplified by fears that Iran might block the Strait of Hormuz-a key passage through which around 20% of global oil and LNG shipments flow-forcing ships to take longer alternative routes.

However, analysts now believe the likelihood of such a disruption remains low, leading to some cooling-off in the rally.

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