Consumer durables, realty and pharma shares advanced while metal, private bank and IT shares declined.

At 13:25 ST, the barometer index, the S&P BSE Sensex declined 161.08 points or 0.21% to 74,186.37. The Nifty 50 index fell 48.35 points or 0.21% to 23,357.25.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.67% and the BSE 250 SmallCap Index added 0.68%.

The market breadth was positive. On the BSE, 2,134 shares rose and 1,879 shares fell. A total of 203 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.10% to 16.30.

In the commodities market, Brent crude for July 2026 settlement declined 76 cents or 0.78% to $97.05 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.7575 compared with its close of 95.7600 during the previous trading session.

Gainers & Losers:

Eternal (up 2.59%), Titan Company (up 2.21%), Coal India (up 1.84%) and Cipla (up 1.19%) were the major Nifty50 gainers.

Trent (down 2.56%), Infosys (down 1.67%), Reliance Industries (down 1.38%) and JSW Steel (down 1.26%) were the major Nifty50 losers.

Moonsoon Update:

The southwest monsoon reached Kerala on Thursday, three days later than its normal onset date of 1 June. The June-September monsoon is crucial for India's nearly $4 trillion economy, providing about 70% of the rainfall needed for agriculture and water reservoirs. The rains typically spread across the country by mid-July, enabling the sowing of key crops such as rice, corn, cotton, soybeans and sugarcane. However, concerns remain after the India Meteorological Department forecast that an El Nino-affected monsoon in 2026 could result in the weakest rainfall in 11 years, potentially impacting crop output, food inflation and economic growth.

Stocks in Spotlight:

Hero MotoCorp rose 1.19% after the company unveiled its first flex-fuel motorcycles, the Splendor+ Flex Fuel and HF Deluxe Flex Fuel. The HF Deluxe Flex Fuel is priced at Rs 72,792 (ex-showroom Delhi), while the Splendor+ Flex Fuel is priced at Rs 82,710 (ex-showroom Delhi). The company plans to introduce the flex-fuel models in Delhi and select regions of Maharashtra in July 2026, followed by a nationwide rollout.

Rajesh Exports was locked in 5% lower circuit after the Securities and Exchange Board of India (SEBI) barred its promoter Rajesh Mehta from accessing the securities market over allegations of financial misappropriation.

The interim order stems from an investigation initiated following a shareholder complaint concerning the company's financial reporting practices. SEBI appointed an investigating authority in October 2024 and subsequently engaged forensic auditor BDO to conduct an independent review of the company's books and records.

According to SEBI's preliminary observations, overseas subsidiaries, particularly the company's Swiss refining subsidiary Valcambi, accounted for approximately 97'99% of consolidated revenue during the review period. The regulator further stated that it was unable to independently verify the company's reported investment of Rs 1,035 crore in African gold-mining assets.

The proceedings remain ongoing, and Rajesh Exports will have an opportunity to present its response before SEBI reaches a final conclusion.

Indian Energy Exchange (IEX) advanced 1.38% after the company announced that it has achieved monthly electricity volume of 12,983 MUs in May 2026, registering a growth of 18.6% YoY.

PhysicsWallah surged 14.44% after the edtech company revised its student lending strategy. The company said it will partner with multiple regulated non-banking financial companies (NBFCs) to provide education loans to students. The move comes shortly after PhysicsWallah announced an investment of around Rs 120 crore in its wholly owned subsidiary, FinZ Finance.

In an exchange filing, the company said it is moving away from its earlier plan of undertaking lending activities directly. The revised approach is expected to reduce balance-sheet and credit risks.

Vibhor Steel Tubes advanced 2.51% after the company's board approved the incorporation of wholly-owned subsidiary, Viyom Steel Infra in Hisar, Haryana. The proposed wholly owned subsidiary shall carry on the business of specialized manufacturer of high-quality steel products for infrastructure sector.

The company will subscribe to the entire initial paid-up share capital of Rs 10 lakh in the subsidiary, with shares being issued at par value. The company will hold 100% ownership and retain full management control over the subsidiary.

Jain Irrigation Sytems surged 8.50% after the company announced the commissioning of a high-tech industrial-scale biochar facility with an annual production capacity of around 20,000 tonnes in Jalgaon, Maharashtra.

ideaForge Technology hit an upper limit of 5% after the drone manufacturer announced plans to raise up to Rs 500 crore through various capital market instruments.

Global Markets:

European market advanced as a ceasefire was agreed between Israel and Lebanon on Wednesday evening.

Asian market traded lower on Thursday, tracking Wall Street losses, as tensions between Iran and the U.S. keep oil prices elevated, stoking energy and inflation worries.

The Kuwait International Airport was struck by Iran early Wednesday, just a day after the U.S. Central Command said it had defeated multiple Iranian ballistic missiles and drones, as well as launched self-defense strikes' on Qeshm Island in the Persian Gulf. This was in response to attempted attacks' by Tehran, it said.

If necessary, Israel and the U.S. are prepared to strike Iran again, Israeli Prime Minister Benjamin Netanyahu has reportedly said.

Overnight on Wall Street, stocks fell on Wednesday, with the S&P 500 snapping a nine-day win streak, as oil prices and Treasury yields moved higher amid worries the U.S.-Iran conflict could keep lifting inflation.

The 30-stock Dow Jones Industrial Average pulled back 620.72 points, or 1.21%, to end at 50,687.07. The broad market S&P 500 fell 0.74% to end at 7,553.68, while the tech-heavy Nasdaq Composite declined 0.89% to 26,853.98.

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