The Nifty traded below the 23,200 level. Barring the pharma index, all other shares declined on the NSE.

At 13:28 IST, the barometer index, the S&P BSE Sensex declined 529.60 points or 0.72% to 73,710.48. The Nifty 50 index fell 169 points or 0.72% to 23,197.10.

In the broader market, the BSE 150 MidCap Index dropped 0.77% and the BSE 250 SmallCap Index slumped 0.84%.

The market breadth was weak. On the BSE, 1,475 shares rose and 2,732 shares fell. A total of 219 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.25% to 16.93.

In the commodities market, Brent crude for August 2026 settlement rose $4.19 or 4.50% to $97.28 a barrel after Israel launched fresh attacks on Lebanon over the weekend despite a ceasefire, raising concerns over regional stability and the smooth flow of oil shipments through the strategically important Strait of Hormuz.

Gainers & Losers:

Max Healthcare Institute (up 2.89%), Power Grid Corporation of India (up The 2.03%), Apollo Hospitals Enterprise (up 1.64%), Nestle India (up 1.52%) and Tech Mahindra (up 1.39%) were the major Nifty50 gainers.

Wipro (down 6.91%), Eternal (down 2.50%), InterGlobe Aviation (down 2.44%), Shriram Finance (down 2.22%) and Bajaj Finance (down 2.05%) were the major Nifty50 losers.

Stocks in Spotlight:

Innovision rose 0.35%. The company has received a LoA worth Rs 25.70 crore from the National Highways Authority of India (NHAI) for toll collection at the Belon Fee Plaza on the Aligarh'Moradabad section of NH-93 (NH-509), Uttar Pradesh.

Cupid Breweries and Distilleries hit an upper limit at 5% after signing pact with United Spirits to buy an operational manufacturing unit in Gopalpur, Odisha, for Rs 22.50 crore. The agreement covers the acquisition of land, building, plant and machinery, along with premium excise licenses required for production at the facility.

Creative Newtech hit an upper circuit of 20% after the company along with its consortium partner has received an advance work order (AWO) from Bharat Sanchar Nigam (BSNL), acting on behalf of Digital Bharat Nidhi, Government of India.

Global Markets:

European stock markets opened lower on Monday, while oil prices climbed, following a resumption of attacks between Iran and Israel that threatened to derail talks to end a fragile U.S.-backed ceasefire in the Middle East.

Asian markets traded lower, as escalating tensions in the Middle East weighed on investor sentiment. The decline came after Israel launched retaliatory strikes on targets in western and central Iran, raising fears of a broader regional conflict and prompting a risk-off mood across global markets.

On Friday, the Nasdaq Composite fell 4.18% to 25,709.43'its biggest drop since April 2025. The S&P 500 sank 2.64% to close at 7,383.74, and the Dow lost 695 points to end the week at 50,866.78, a day after hitting a new high.

The decline on Friday came after a stronger-than-anticipated U.S. jobs report for May pushed Treasury yields higher, fueling concerns that elevated borrowing costs could pressure companies making substantial investments in artificial intelligence infrastructure.

In the coming week, market participants will closely track inflation data and the highly anticipated public debut of Elon Musk's SpaceX on Friday.

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